Get the free Form 656 (Rev. February 1999) - FormSend

Www. irs. ustreas. gov Form 656 Rev. 2-1999 Catalog Number 16728N Form 656 Offer in Compromise The following pages contain s Information you need to know before submitting an offer in compromise s Instructions on the type of offers you can submit s A worksheet you can use to calculate your offer amount s Two copies of Form 656 Note You can get forms and publications by calling 1 800 829 1040 or by visiting your local Internal Revenue Service IRS ...

How to fill out form 656 rev february

How to fill out form 656 rev February:

1. Begin by gathering all the necessary information and documents required to fill out form 656 rev February. This includes personal details, financial information, and any supporting documents related to your tax liability.
2. Carefully read through the instructions provided with the form to ensure you understand the requirements and details of each section.
3. Start filling out the form by entering your personal information, such as your name, address, and social security number.
4. Move on to the financial information section and provide accurate details about your income, assets, and liabilities.
5. If applicable, complete the section related to any proposed terms for the offer in compromise, including the amount you are willing to pay and the payment plan.
6. Ensure you complete all the required sections and double-check for any errors or missing information before submitting the form.
7. Once you have finished filling out the form, review it one final time to make sure everything is accurate and complete. Sign and date the form in the designated spaces.
8. Keep a copy of the filled-out form for your records and submit the original form, along with any supporting documents, to the relevant authority as specified in the instructions.

Who needs form 656 rev February?

1. Individuals or businesses who have an outstanding tax liability and are seeking to settle their debt with the Internal Revenue Service (IRS) may need to fill out form 656 rev February.
2. This form is specifically used to request an offer in compromise, which is a program provided by the IRS to help individuals and businesses settle their tax debt for less than the full amount owed.
3. Individuals who are unable to pay their tax liability in full or experience financial hardship may be eligible to use form 656 rev February to propose an acceptable offer in compromise to the IRS.

For pdfFiller’s FAQs

What is form 656 rev february?

Form 656 rev February is a form used by taxpayers to submit an Offer in Compromise to the Internal Revenue Service (IRS) to settle their tax liabilities for less than the full amount owed.

Who is required to file form 656 rev february?

Taxpayers who are unable to pay their tax liabilities in full and meet certain eligibility criteria may choose to file form 656 rev February to request an Offer in Compromise with the IRS.

How to fill out form 656 rev february?

To fill out form 656 rev February, taxpayers must provide their personal information, tax financial details, reasons for the Offer in Compromise, and substantiating documentation. It is recommended to consult the instructions provided by the IRS or seek assistance from a tax professional.

What is the purpose of form 656 rev february?

The purpose of form 656 rev February is to give taxpayers an opportunity to settle their tax debts with the IRS through a negotiated agreement, resolving their obligations for less than the full amount owed.

What information must be reported on form 656 rev february?

Form 656 rev February requires taxpayers to report their personal details, tax liabilities, income, expenses, assets, and any other relevant financial information that supports their request for an Offer in Compromise.

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