Form Boe-490-C - Offer In Compromise Application Page 12
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13Questions and Answers
Q If the BOe determines that my offer is not
acceptable, will I be contacted?
Q What does the BOe consider a fair offer in
A Yes. In most cases, we will contact you to
relation to the amount due?
discuss your account and to determine the
A Generally, an offer will be accepted when the
most appropriate resolution of your account.
amount offered is more than the BOE can
For example, if we determine that you have
expect to collect within a reasonable period of
the ability to make monthly payments that
time, generally from five to seven years. The
will exceed the amount offered, we will work
BOE will generally give more favorable consid
with you to establish an Installment Payment
eration to those offers that include repayment
Agreement. You will receive a written response
of at least the tax or fee portion of the liability.
concerning your offer.
Q How long will it take to get a decision on my
Q Will state tax liens be released if my offer is
OIC?
accepted?
A Generally, if we accept your offer for process
A Yes. We release state tax liens upon final
ing, we will have a decision to you within 180
approval and funding of your offer. If another
days after receiving your offer. If your account
partner existed on the permit, the other part-
is more complex, it may take longer than 180
ner’s liability will not be cancelled nor will the
days.
other partner’s lien be released.
Q Can I make payments on the offered
Q do I need to have someone represent me?
amount?
A No. Representation is not required. An OIC is
A Yes. Beginning January 1, 2009, both qualified
available to all tax or fee payers, whether or
active businesses and closed out businesses
not they are represented. If you think you need
can make monthly installment payments
representation, there are many tax profession
towards the offered amount as long as the total
als who have experience with the OIC process.
amount of the offer is paid in full within twelve
Q If my offer is rejected, can I choose to apply
months. Or you may choose to pay the offered
the deposit to my liability?
amount in a lump sum payment. If you choose
A Yes. If you choose to do so, the effective date
to make installment payments and the offered
amount is not paid within 12 months, your offer
of the payment is the date the deposit was
will be denied and all funds received through
made.
the offer will be retained.
Q Where can I get a Power of Attorney,
Q Can prior payments be applied to the offered
BOe-392?
amount?
A Many BOE forms and publications, including
A No. Prior payments are not accepted towards
BOE-392, can be downloaded from our website
the offered amount. However, prior payments
If you do not have access to
and the offered amount compared to the total
the Internet or you prefer to speak to some
liability are taken into consideration when
one, you can contact your local district office
evaluating your offer.
or our customer service representatives at
800-400-7115.
Q my IrS/ftB/edd OIC has been accepted.
Will the BOe automatically approve my
Unless you have been otherwise directed, you must
offer?
submit your offer to the representative assigned to
your account. If you do not know the name of the
A No. Your BOE offer will be evaluated separately
representative assigned to your account, please
from your IRS, FTB, or EDD offer.
contact your local district office. For more specific
information on the OIC process, you may contact
the OIC Section at 916-322-7931.
OFFER IN COMPROMISE APPLICATION
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