Tax Help Definitions
Friday, January 4th, 2008Abatement A partial or complete cancellation of taxes, penalties or interest owed by a taxpayer.
ACS See Automated Collection System.
Automated collection System (ACS) A computerized collection process for IRS collectors to contact delinquent taxpayers by telephone and mail.
Collateral Agreement An agreement sometimes secured by the IRS prior to acceptance of an Offer in Compromise when the IRS wants to cover a future, reasonably possible event, such as a
