Form Ttb F 5640.1 - Offer In Compromise - 2011 Page 3
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5TERMS AND CONDITIONS OF THE OFFER
By submitting this offer, I/we understand and agree to the following terms and conditions:
1.
I/we voluntarily submit all payments made on this offer.
2.
I/we understand that if I/we am/are requesting deferred payment on the offer, a portion of the offer amount must be submitted with the
offer form before TTB will consider the offer. The amount submitted must be a sufficiently large percentage of the total offer amount,
given my/our financial condition at the time the offer is submitted.
3.
I/we understand that the terms “tax” and “taxes” refer to any principal tax liability plus any additions to the principal including, but not
limited to, penalties and interest. I/we understand that interest and penalties continue to apply and accrue to any unpaid tax liability
described in item 3 (on page 1 of this form).
4.
It is agreed that payments made under the terms of this offer will be applied first to any tax liability and penalty, in that order, due
for the earliest taxable period, then to tax and penalty, in that order, for each succeeding period with no amount to be allocated to
interest until the liabilities for all taxable periods sought to be compromised have been satisfied. In the event of a defaulted offer, the
application of the payment, as stated above, also will apply.
5.
In making this offer the proponent expressly understands and agrees that the acceptance of the offer will not in any way affect any other
liability (civil, forfeiture, or criminal) which he/she may have incurred by reason of violation of Federal laws other than those specified in
item 3 (on page 1 of this form), or regulation issued pursuant thereto, whether or not connected with the violations herein sought to be
compromised.
6.
I/we will comply with all requirements of the Internal Revenue Code and timely will pay all taxes due and will file all applicable returns
and reports when due for a period of 5 years after acceptance of this offer.
7.
If TTB rejects the offer, TTB will contact me/us and will return any amount paid with the offer. If I/we withdraw the offer, TTB will return
any amount paid with the offer or, if I/we agree in writing, TTB will apply the amount paid with the offer to the amount owed. If I/we agree
to apply the payment, the date the offer is rejected or withdrawn will be considered the date of payment. I/we understand that TTB will
not pay interest on any amount I/we have submitted.
8.
TTB will keep all payments and credits made, received, or applied to the amount being compromised before this offer was submitted.
TTB also will keep any payments made under the terms of an installment agreement while this offer is pending.
9.
If TTB accepts the offer based on my/our inability to pay the full amount of the liability (“doubt as to collectibility”), I/we understand and
agree that TTB will keep any refund, including interest, due to me/us because of an overpayment of any tax or other liability, for a period
of one year from the date TTB accepts this offer. I/we will return to TTB any such refund received from TTB during this one year period.
10. If the offer I/we submit is based on my/our inability to pay the full amount of the liability (“doubt as to collectibility”), I/we understand and
agree to promptly advise TTB of any change in my/our financial condition which occurs prior to TTB taking final action on this offer.
11. I/we understand and agree that TTB may conduct an investigation into the information submitted in connection with this offer and that
I/we will provide additional relevant information, as requested, and will provide authorization to TTB to examine documents and receive
information from banks, companies with which I/we do business, and other businesses and individuals who may be able to provide
relevant information.
12. I/we understand that I/we remain responsible for the full amount of the tax liability unless and until TTB accepts the offer in writing and
I/we have met all the terms and conditions of the offer. TTB will not remove the original amount of the tax liability from its records until
I/we have met all the terms and conditions of the offer. TTB may take action on violations of laws and regulations until and unless the
offer is accepted and all terms and conditions are met.
13. For those offers relating to only principal tax liability (plus any additions to the principal including interest and penalty), the total
amount that TTB can collect under the terms and conditions of this offer cannot be more than the full amount of the tax liability being
compromised.
14. Once TTB accepts the offer in writing, I/we have no right to contest, in court or otherwise, the amount of any tax liability, violations,
or other issues addressed by the offer.
15. The offer is pending starting with the date an authorized TTB official signs this form and accepts my/our waiver of the statutory
period of limitation. The offer remains pending until an authorized TTB official accepts or rejects the offer or I/we withdraw the
offer in writing.
16. I/we waive and agree to the suspension of any statutory periods of limitations (time limits provided by law) for TTB assessment and
collection of the tax liability for the tax periods covered by this offer and for administrative or judicial action under the statutes and
regulations administered by TTB. The waiver and suspension of any statutory periods of limitations for assessment and collection of
the amount of the tax liability and/or violations of the law and regulations described in item 3 (on page 1 of this form) continue to apply:
a. while the offer is pending;
b. during the time I/we have not paid all of the amount offered;
c. during the time I/we have not completed all terms and conditions of the offer;
d. for one additional year beyond the time periods identified in a, b, and c above.
TTB F 5640.1 (02/2008)
Page 3 of 5
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