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Abe and Anna have filed all their tax returns and paid all taxes due except for one year. About seven years ago, before retirement, they
Abe and Anna have filed all their tax returns and paid all taxes due except for one year. About seven years ago, before retirement, they were so busy that they just forgot to file. Last week, they received a notice from the IRS indicating their taxes, interest, and penalties for the year they didn't file totaled $22,000. They are now retired and money is tight. Abe and Anna are in a panic since they can't possibly pay this amount. What is their best course of action? Question 38Select one: a. Submit an offer in compromise for the amount they can pay b. Allow the statutory collection period to expire c. Request a payment plan from the IRS for only the amount they can pay d. Send a letter to the IRS indicating they cannot pay
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