Get the free Form 656 (Rev. January 2000). Offer in Compromise

WWW.IRS.gov Form 656 (Rev. 1-2000) Catalog Number 16728 N Form 656 Offer in Compromise The following pages contain: s Information you need to know before submitting an offer in compromise s Instructions

How to fill out form 656 rev january

How to fill out form 656 rev january?

1. Gather all necessary information and documents required to complete the form, such as your personal information, tax information, and any supporting documentation.
2. Carefully read and follow the instructions provided in the form's instruction booklet to ensure accurate completion.
3. Start by filling out your personal information, such as your name, address, and social security number, in the designated fields.
4. Provide accurate and detailed information regarding your tax liabilities, including any outstanding balances, penalties, or interest owed.
5. If you are proposing an offer in compromise, carefully complete the section related to this option, providing relevant financial information to support your offer.
6. Attach any required supporting documentation, such as bank statements, pay stubs, or tax returns, as instructed in the form.
7. Review the completed form and ensure all information is accurate and legible. Make any necessary corrections or additions before submitting.
8. Sign and date the form to certify the accuracy of the information provided.
9. Keep a copy of the completed form for your records.

Who needs form 656 rev january?

1. Individuals or businesses who have tax debts they are unable to pay in full may need to use form 656 rev january.
2. It is primarily used by taxpayers who are proposing an offer in compromise as a means to settle their tax liabilities for less than the total amount owed.
3. The form is also commonly used by taxpayers who are seeking to establish a payment plan or negotiate a settlement with the Internal Revenue Service (IRS).

For pdfFiller’s FAQs

What is form 656 rev january?

Form 656 Rev January is the Offer in Compromise (OIC) package provided by the Internal Revenue Service (IRS) to taxpayers who are unable to pay their tax liability in full. It allows eligible taxpayers to settle their tax debt for less than the total amount owed.

Who is required to file form 656 rev january?

Individuals, businesses, and other entities who are unable to pay their tax debt in full and meet certain eligibility requirements can file Form 656 Rev January to request an Offer in Compromise (OIC) from the IRS.

How to fill out form 656 rev january?

To fill out Form 656 Rev January, you need to provide your personal and contact information, details about your tax liabilities, financial information, and an explanation of your inability to pay. It is highly recommended to consult the instructions provided by the IRS or seek professional assistance while completing the form.

What is the purpose of form 656 rev january?

The purpose of Form 656 Rev January is to request an Offer in Compromise (OIC) from the IRS in order to settle a taxpayer's tax debt for an amount less than the total owed. It provides an opportunity for taxpayers who are experiencing financial hardship to resolve their tax liabilities.

What information must be reported on form 656 rev january?

Form 656 Rev January requires taxpayers to report their personal and contact information, details about their tax liabilities, financial information, and provide an explanation of their inability to pay the full tax debt. Specific instructions and requirements are provided by the IRS in the form's instructions.

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