Unit 2

I'll Pay Ya Tuesday

100

I am the threshold amount for streamlined installment agreement.

$25,000

200

I owe $17k and I can pay $1,000/mo. I am ...?

Streamlined I.A.

300

I am a business owing $9,200. I can pay $500/month. I am what kind of an agreement?

IBTF Express IA

400

I am a business owing $19k and can pay $750/month. I am what kind of agreement?

IBTF I.A.

500

3 of us are monitored.

What are IMF accounts, OOB accounts, and IBTF accounts.

Lien Erythang

100

The amount of time the RO has to make a lien determination AFTER contact.

10 Days

200

I have to make this on all bal-due cases.

A lien determination.

300

I am the event that notifies the public of an outstanding liability.

What is the NFTL?

400

I have 3 choices when it comes to the lien determintion.

What is filed, extend, and defer.

500

I am the elements necessary for a lien. 

Completed assessment, demand for payment, failure to pay the demand

To Close or Not To Close

100

Use me to close little or no tax due.

P-5-133

200

Return Secured, No return Secured, and No Return Secured are Del Ret closure choices. True or False

True

300

Use this button to close a delinquent return for non-operating corporation.

Defunct Corporation

400

Not liable for return, TP due Refund, P-5-133, Not liable for a return, 6020(b) refund, REV Proc 84-85 are instances where no return might be secured. True or False

True

500

Regular payments and IDRS monitored accounts are subject to manual monitoring. True or False

False

Here Comes the Lien

100

The NFTL must be released within 10 days. True or False

False. The answer is 30 days.

200

This is removed when filing the lien on an LLC in ICS.

What is the member name?

300

I am in ICS and I provide reminders for the lien determination.

What is a notification?

400

ALS isn't fast enough for filing. I have to...

What is a manually filing of the lien?

500

I start 9 years and 30 days after the assessment and last for one year.

What is the lien refile period?

You Have a Great Form

100

I am used to commit the account to a DDIA.

Form 433-D

200

I am sent to the employer for an installment agreement.

Form 2159, Payroll Deduction

300

This must be on all DDIAs and all Payroll Deductions.

Taxpayer's signature

400

I am used to file a lien on modules not in inventory yet.

Form 12636

500

I am used to monitor installment agreements on IDRS.

CP-521