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What is the purpose of irs form 2297. by signing this form,

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What is the purpose...

What is the purpose of irs form 2297. by signing this form , am i giving up my right to my past refund?

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I have recently been audited for tax year ended 12/31/2009. I am due a refund for money that i paid to the irs because their audit showed that i owed money which i should not have paid, because the last audit performed showed that i was in fact i should get a refund instead of owing for year ending 12/31/2009.I paid interest and penalty in the amount in excess of $50,000.00. Would i forfeit my refund if i sign the form 2297?

Submitted: 8 months ago.Category: Tax
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9/23/2017
Tax Professional: Tax.appeal.168, Tax Accountant replied 8 months ago
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Hello. Thank you for choosing this Q&A service for assistance. My name is Angela. I will be assisting you.

Q: what is the purpose of irs form 2297. by signing this form , am i giving up my right to my past refund?

A: Based on the following information, by signing the Form 2297, you would be agreeing to the claim disallowance, in essence agreeing to forfeit any refund that may be due to you relating to this matter. SEE BELOW FOR EXPLANATION:

8.7.7.6 (06-02-2015)c
Form 2297, Waiver of Statutory Notification of Claim Disallowance

REFERENCE SOURCE:

https://www.irs.gov/irm/part8/irm_08-007-007.html#d0e933

---------------------------------------------

Laymens terms:

The taxpayer may waive the mailing requirement by signing Form 2297, Waiver of Statutory Notification of Claim Disallowance. ... The 2-year period begins on the date of mailing of the legal notice of claim disallowance (sent by certified or registered mail) or the date that the Service received Form 2297

Let me know if the information provided clarifies matters for you. If so, I ask that you be so kind as to scroll to the top of the page and select 3 or more stars to positively rate my response so that I can receive credit for assisting you. A 5 star rating is most appreciated. Thank you in advance.

  1. In cases where a claim for refund is disallowed in whole or in part, you may request that the taxpayer execute Form 2297, Waiver of Statutory Notification of Claim Disallowance.

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Tax Professional: Tax.appeal.168, Tax Accountant replied 8 months ago

Additional Information:

My understanding of the previous information was not correct. Researching further, I came across the following info.

IRS Form 2297, also known as a Waiver of Statutory Notification of Claim Disallowance, is completed either by a tax examiner in Tax Court, a taxpayer's attorney or by the taxpayer himself when a taxpayer's claim that has been made for a refund is disallowed (or refused) in part or in whole. The Appeals Officer involved with the case may ask the taxpayer to file a Form 2297 if he would like to appeal the decision.

REFERENCE SOURCE:

https://irstaxatttorney.blogspot.com/2014/01/instructions-for-irs-form-2297.html

Based on the above information, it sounds as if the Form 2297 would be in your favor.

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Tax Professional: Tax.appeal.168, Tax Accountant replied 8 months ago

5. IRS action on the claim

a. The taxpayer can ask that the IRS immediately disallow the refund claim. IR New Release IR-1600. The taxpayer can contact its examining agents and ask for immediate disallowance.

b. The IRS will send the taxpayer a notice of proposed disallowance of the refund claim. The taxpayer may protest the proposed disallowance to IRS Appeals.

(i) The IRS will enclose a Form 2297, asking the taxpayer to waive its right to receive a formal notice of disallowance. These forms pose danger, because they start the limitations period for filing suit, usually at an ill-defined date.

c. The IRS will send a formal notice of claim disallowance. The notice must be sent by certified or registered mail.

6. The statute of limitations for filing the refund litigation.

a. The refund suit must be filed within two years of the date of the formal notice of claim disallowance.

b. If the taxpayer executed Form 2297, suit must be filed within two years of the date on which the IRS accepts that form.

c. The statute of limitations for filing suit can be extended using Form 907, if the IRS agrees to execute that form.

REFERENCE SOURCE:

http://www.mondaq.com/unitedstates/x/26535/Corporate+Tax/Tax+Procedure+Outline+Audit+to+Litigation

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