Business, Legal & Accounting Glossary
An agreement made between the IRS and a taxpayer for the purpose of settling an outstanding tax liability if it determined that there is no benefit to the IRS for pursuing further payment. The agreement is usually specific to one type of tax liability and it does not preclude the IRS from attempting collection on an unrelated liability.
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This glossary post was last updated: 20th November, 2021 | 0 Views.