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.
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Therefore, the premium at the lower border of the Zapsibcombank versus the BFL curve forms 656 b.
The OIC process, which may take many months, involves submission of completed IRS forms 656 (Offer in Compromise), 433-A (Collection Information Statement for Wage Earners and Self-Employed Individuals) and/or 433-B (Collection Information Statement for Businesses).
A new matrix to assist in determining the number of Forms 656, $150 application fee(s) and TIPRA payments to submit to the Service, depending on the number of individuals submitting the offer and the types of liabilities being compromised;
You will be required to submit forms 656, 433-A, and 433-B, if applicable.
Specially trained individuals will screen the Forms 656 and supplemental forms for missing information, and contact taxpayers (or their representatives) by telephone, letter or both for this information.
The first change that practitioners will notice is that the Service has adopted a procedure of returning to taxpayers or their representatives all Forms 656 that were in progress on Jan.
The new forms for submitting an offer in compromise are Forms 656 and 433-A for individuals and 433-B for businesses.