TTB Form 5640.2 Offer in Compromise for Federal Alcohol Administration Act (FAA Act) Violations

TTB Form 5640.2 Offer in Compromise for Federal Alcohol Administration Act (FAA Act) Violations

What Is TTB Form 5640.2?

This is a legal form that was released by the U.S. Department of the Treasury - Alcohol and Tobacco Tax and Trade Bureau on May 1, 2009 and used country-wide. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is TTB Form 5640.2?
A: TTB Form 5640.2 is a form used for an Offer in Compromise for Federal Alcohol Administration Act (FAA Act) violations.

Q: What is an Offer in Compromise?
A: An Offer in Compromise is a settlement agreement offered by the taxpayer to resolve their tax liability for less than the full amount owed.

Q: What is the Federal Alcohol Administration Act (FAA Act)?
A: The Federal Alcohol Administration Act (FAA Act) is a federal law that regulates the production and distribution of alcohol.

Q: What are violations of the FAA Act?
A: Violations of the FAA Act can include selling alcohol without a license, selling alcohol to minors, or engaging in deceptive labeling or advertising practices.

Q: Why would someone file an Offer in Compromise for FAA Act violations?
A: Someone may file an Offer in Compromise for FAA Act violations if they are unable to pay the full amount of the penalties or fines imposed for their violations.

Q: How can someone file an Offer in Compromise for FAA Act violations?
A: To file an Offer in Compromise for FAA Act violations, the taxpayer must complete and submit TTB Form 5640.2 to the Alcohol and Tobacco Tax and Trade Bureau (TTB).

Q: Is approval guaranteed with an Offer in Compromise?
A: No, approval of an Offer in Compromise is not guaranteed. The TTB will review the offer and determine whether it is appropriate to accept.

Q: What happens if an Offer in Compromise is accepted?
A: If an Offer in Compromise is accepted, the taxpayer will need to comply with the terms of the agreement, which may include making partial payment and adhering to certain restrictions or regulations.

Q: What happens if an Offer in Compromise is rejected?
A: If an Offer in Compromise is rejected, the taxpayer will need to explore other options for resolving their tax liability, such as entering into a payment plan or appealing the decision.

Q: Can legal assistance be sought when filing an Offer in Compromise?
A: Yes, taxpayers may seek legal assistance when filing an Offer in Compromise to ensure they have a thorough understanding of the process and maximize their chances of success.

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Form Details:

  • Released on May 1, 2009;
  • The latest available edition released by the U.S. Department of the Treasury - Alcohol and Tobacco Tax and Trade Bureau;
  • Easy to use and ready to print;
  • Yours to fill out and keep for your records;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of TTB Form 5640.2 by clicking the link below or browse more documents and templates provided by the U.S. Department of the Treasury - Alcohol and Tobacco Tax and Trade Bureau.

Download TTB Form 5640.2 Offer in Compromise for Federal Alcohol Administration Act (FAA Act) Violations

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  • TTB Form 5640.2 Offer in Compromise for Federal Alcohol Administration Act (FAA Act) Violations

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