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.
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.
Form Details:
Download a printable version of Form OIC-671 by clicking the link below or browse more documents and templates provided by the Vermont Department of Taxes.