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Settling your tax debt with the Oklahoma Tax Commission (OTC) and moving on sounds like a great idea. However, before you can negotiate a settlement and look forward to being free from tax debt, you need to know if you are eligible for relief.

Determining Eligibility for an Oklahoma Tax Commission Settlement

In order to request a settlement and have your request considered by the OTC, you must make the request on one of the following grounds:

  • Collection of the tax, interest, and penalties would reasonably result in you declaring bankruptcy, and the settlement amount offered reasonably reflects collection potential.
  • The full amount of the tax, interest, and penalties is uncollectible because you are insolvent due to factors beyond your control, and the settlement amount offered reasonably reflects collection potential.
  • The tax liability is attributable to actions by someone other than you, and to hold you liable would be inequitable.
  • If the claim involves the nonpayment of trust fund taxes, you did not collect the taxes from your customer because you had a good faith belief that it wasn’t required.

Additionally:

  • Your tax liability must be final.
  • All administrative remedies and appeals must have been exhausted.
  • You must be current with all tax return filings.
  • You must not have an open bankruptcy case.
  • You must not be the subject of a state tax-related criminal investigation or prosecution.

Of course, meeting these requirements is not the same as having your settlement request approved. You still have to convince the OTC to settle.

Call a Norman Tax Attorney for Help With Your Claim

You do not have to file a settlement offer on your own. Instead, please contact a Norman tax lawyer today at 800-721-7054, and please read our FREE book, The Ultimate Survival Guide for IRS Problems, to learn more.

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