59-1-1004 - Installment payments.
59-1-1004. Installment payments.
(1) The commission may enter into agreements with taxpayers on installment paymentsof taxes, penalties, and interest. The commission may revise, accelerate, or cancel the installmentagreement if any of the following occurs:
(a) the commission determines that the financial condition of the taxpayer hassubstantially changed;
(b) the commission determines that the taxpayer provided inaccurate informationconcerning his financial condition; or
(c) the taxpayer fails to make timely payments pursuant to the terms of the installmentagreement.
(2) The commission shall give the taxpayer reasonable notice of its intent to revise orcancel an installment agreement entered into under this section.
Enacted by Chapter 35, 1991 General Session