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?
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JG -
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 -
Thank you.
That makes it pretty clear. It was just an idea that didn't make it.JGComment
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