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    10% penalty

    To avoid the 10% penalty, one of the exceptions is to pay an IRS levy. Do you think that principal payments would meet this exception if TP had a levy, made an installment agreement, and then started paying the IRS?
    JG

    #2
    My understanding of this exception is that the IRS must levy the funds. If you could get them to levy them on a monthly basis it might work. But then why wouldn't they take it all?
    In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.
    Alexis de Tocqueville

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      #3
      Thank you.

      That makes it pretty clear. It was just an idea that didn't make it.
      JG

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