Rev. Proc. 62-19

SEC. 1. PURPOSE.

The purpose of this Revenue Procedure is to make known the extension of authority to District Directors and Regional Counsel with respect to the acceptance of certain offers to compromise tax liabilities under $50,000 and specific penalties.

SEC. 2. BACKGROUND.

Revenue Procedure 60-22, C.B. 1960-2, 992, sets forth the jurisdictional alignment pertaining to the investigation and consideration of offers in compromise and outlines procedures established to implement Delegation Order No. 11 (Revised), C.B. 1960-2, 919, authorizing District Directors to accept certain offers to compromise tax liabilities under $25,000 and specific penalties.

SEC. 3. EXTENSION OF DELEGATED AUTHORITY--SCOPE AND LIMITATIONS.

Under Delegation Order No. 11 (Rev. 2), C.B. 1962-1, 396, issued December 29, 1961, District Directors, subject to the limitations contained in applicable regulations and procedures, are delegated authority, under section 7122 of the Internal Revenue Code of 1954, to accept offers to compromise tax liabilities under $50,000 and specific penalties. By direction of the Chief Counsel, ordered December 29, 1961, the Regional Counsel is also authorized to perform his prescribed legal functions in connection with the consideration and processing of accepted offers to compromise tax liabilities under $50,000 and specific penalties. Except for the extension of authority delegated to District Directors and Regional Counsel, the procedures, jurisdictional alignment and limitations set forth in Revenue Procedure 60-22 remain unchanged.

SEC. 4. EFFECT ON OTHER DOCUMENTS.

Revenue Procedure 60-22 is amended to reflect the extension of authority delegated to District Directors and Regional Counsel with respect to the acceptance of offers to compromise liabilities from under $25,000 to under $50,000.

SEC. 5. EFFECTIVE DATE.

This Revenue Procedure is effective January 1, 1962.