Under the People First Initiative, which of the following is TRUE about installment agreements and...
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Accounting
Under the People First Initiative, which of the following is TRUE about installment agreements and offers in compromise (OICs)?
Taxpayers may not enter into new installment agreements between April 1, 2020, and July 15, 2020.
Installment agreement payments due between April 1, 2020, and July 30, 2020 may be suspended.
If a taxpayer has submitted an application for an OIC, they must file their 2018 and 2019 returns on or before July 15, 2020.
Taxpayers may not submit a new application for OIC between April 1, 2020, and July 15, 2020.
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