Form OIC-671 Offer in Compromise Agreement - Vermont

What Is Form OIC-671?

This is a legal form that was released by the Vermont Department of Taxes - a government authority operating within Vermont. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form OIC-671?A: Form OIC-671 is the Offer in Compromise Agreement specific to the state of Vermont.

Q: What is an Offer in Compromise Agreement?A: An Offer in Compromise Agreement is a legal agreement between a taxpayer and the government that allows the taxpayer to settle their tax debt for less than the full amount owed.

Q: Who can use Form OIC-671?A: Form OIC-671 can be used by individuals or businesses who owe taxes to the state of Vermont and want to negotiate a settlement.

Q: What information is required on Form OIC-671?A: Form OIC-671 requires the taxpayer's personal information, details about the tax debt owed, and a proposed offer to settle the debt.

Q: Are there any fees associated with submitting Form OIC-671?A: Yes, there may be fees associated with submitting Form OIC-671. It is best to check the instructions or contact the Vermont Department of Taxes for the most up-to-date fee information.

Q: What happens after submitting Form OIC-671?A: After submitting Form OIC-671, the Vermont Department of Taxes will review the offer and determine if it is acceptable. If accepted, a payment plan or other arrangement will be made to settle the tax debt.

Q: Can I submit Form OIC-671 if I have multiple tax debts?A: Yes, you can submit Form OIC-671 for multiple tax debts. However, each debt will require a separate offer and agreement.

Q: What if my offer on Form OIC-671 is rejected?A: If your offer on Form OIC-671 is rejected, you may be able to appeal the decision or negotiate an alternative payment plan with the Vermont Department of Taxes.

Q: Is Form OIC-671 confidential?A: The information provided on Form OIC-671 may be subject to confidentiality rules, but it is best to check with the Vermont Department of Taxes for specific details and requirements.