Okla. Admin. Code § 710:1-5-83

Current through Vol. 42, No. 1, September 16, 2024

Section 710:1-5-83 - Eligibility requirements for settlement

(a)General requirements. Before a taxpayer becomes eligible for settlement pursuant to this program, the following general requirements must be met:

(1) Tax liability must be final.

(2) All administrative remedies and appeals must have been exhausted.

(3) Taxpayer must be current with all returns filed or required to be filed with the Commission.

(4) Taxpayer must not be currently the subject of an open bankruptcy proceeding.

(5) Taxpayer must not be currently the subject of a State tax-related criminal investigation or criminal prosecution.

(b)Bankruptcy or insolvency. If settlement is sought on the grounds of bankruptcy or insolvency:

(1) Taxpayer must demonstrate that the ability to make payment in full any time in the foreseeable future is unlikely.

(2) Taxpayer must be without sufficient resources or unable to apply present or future resources to paying the outstanding tax liability.

(3) Taxpayer must be reasonably unable to dispose of assets or borrow against assets to pay the tax liability.

(4) Taxpayer must demonstrate that monthly income is insufficient to fully pay the tax liability through reasonable installment payments.

Okla. Admin. Code § 710:1-5-83

Added at 20 Ok Reg 748, eff 3-17-03 (emergency); Added at 20 Ok Reg 2580, eff 7-11-03