In the Following Independent Situations, Is It Better to Make

question 46

Essay

In the following independent situations, is it better to make an installment agreement with the IRS, an offer in compromise with the IRS, or ask for an extension of time to pay any taxes owed?
a. A taxpayer is unlikely to pay the tax amount they owe.
b. Using monthly payments, a taxpayer can afford to pay off the tax owed within 2 years.
c. A taxpayer can pay off their tax owed when they sell their boat which is up for sale.

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Definitions:

Business Friendship

refers to a relationship between professionals that, while based on mutual business interests, includes elements of personal connection and trust.

Acquaintances

People one knows slightly, but who are not close friends, often playing roles in professional networking or casual social interactions.

Customer Service

The support and assistance provided by a company to those people who buy or use its products or services.

Relationship Satisfying

A business approach focused on building and maintaining positive relationships with customers to encourage loyalty and repeat business.