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Form 870 IN: What You Should Know

A taxpayer may also use any of the available “holds” on the Form 871, such as the “holds” on a waiver (a) from claiming a refund under section 6521(r), (b) with respect to the refund of state sales or use tax under state law, and (c) subject to the holding provision under the regulations. Form 871 is also used to negotiate an audit settlement and in some tax cases as an arbitration settlement under the IRS arbitration agreements under Sections 6010, 7025, or 7610. IRS Settlement Forms & Notices for Non-Docketed Cases If you are not able to reach an agreement on the merits of your case in court, you may need to agree to have your matter arbitrated. The standard agreement for the IRS involves a hold on the tax due you. If you are the non-party to a case, you may not be entitled to such a hold under the IRS's rules. The IRS's rules may allow the holder of a hold to make certain claims based on a claim you don't have.  If a Tax Court holds that Form 870 isn't an enforceable agreement, the case may be dropped by the taxpayer. If the Tax Court doesn't consider the hold of your settlement agreement to be an enforceable agreement, your lawsuit may be dismissed. The only way for the case to continue would be if you and the taxpayer agree to an arbitration agreement. An arbitration agreement may be the only way for you to obtain a valid judgment. However, since an arbitration agreement would not bind the IRS you may be able to obtain a judgment by using any of the other relief available under the IRS's regulations. If you have an arbitration agreement you should make sure the agreement is not in default for any tax purposes. IRS Holders and Holders of a Settlement Agreement A taxpayer could obtain a hold on a Form 870 by claiming to be responsible on income taxes and claiming that a hold is needed for tax purposes. It may seem simple, but if you know who to call (don't forget the phone number) you can get a hold on a Form 870.  If the hold has not been waived, IRS Holders need to sign Form 870-AD. Holders of settlement agreements who do not have to sign a waiver must sign a waiver that allows them to claim that a hold is needed for tax purposes.

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