Form 656

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Form 656

A form one files with the IRS to request an offer in compromise, which is a program whereby a person or company owing delinquent taxes asks to settle the debt for less than the full amount owed. In order to file Form 656, the taxpayer must state that he/she will never be able to pay his/her taxes in full or show that there are other circumstances, such as age or disability, that will hinder payment. See also: Form 433.