The Massachusetts Offer in Settlement Application is a program offered by the Massachusetts Department of Revenue that allows taxpayers to settle their tax debt at a reduced rate or for a payment plan. By filing an Offer in Settlement (IS) Application, taxpayers can negotiate a reduced tax liability, payment plan, or both. This can result in a substantial savings for taxpayers who are unable to pay their full tax debt. There are two types of Massachusetts Offer in Settlement Application. The first type is a Full Payment Offer in Settlement. This type of application allows taxpayers to offer a lump sum payment to settle their tax debt. The second type is an Installment Payment Offer in Settlement. This type of application allows taxpayers to offer a payment plan to pay their tax debt over a period of time. In addition to filing the Offer in Settlement Application, taxpayers must also submit detailed financial information and supporting documentation to the Department of Revenue. The Department of Revenue will review the taxpayer's financial information and documentation and either accept or reject the offer. Once accepted, the taxpayer will be responsible for making the payments as outlined in the agreement.
Massachusetts Offer in Settlement Application
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How to fill out Massachusetts Offer In Settlement Application?
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