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Form 656-Booklet, Offers in Compromise (Revision 3/2011) Practitioner Organization: FEEDBACK MATRIX 656-B Section/Page Comment Recommendation 1 656-B Section/Page Comment Recommendation 2

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What is form 656-booklet offers in?

Form 656-Booklet Offers in Compromise is a document provided by the IRS that contains instructions and forms for individuals who wish to submit an offer in compromise to settle their tax debt for less than the full amount owed.

Who is required to file form 656-booklet offers in?

Any individual or business entity that wants to propose an offer in compromise to the IRS to settle their tax debt.

How to fill out form 656-booklet offers in?

To fill out Form 656-Booklet Offers in Compromise, you need to follow the instructions provided in the booklet. It will guide you through the process of completing the necessary forms and providing all the required information. It is recommended to consult with a tax professional for assistance.

What is the purpose of form 656-booklet offers in?

The purpose of Form 656-Booklet Offers in Compromise is to provide individuals and businesses with a method to propose settling their tax debt for less than the full amount owed. The IRS will evaluate the offer based on the taxpayer's financial situation and ability to pay.

What information must be reported on form 656-booklet offers in?

Form 656-Booklet Offers in Compromise requires the taxpayer to provide detailed financial information including income, expenses, assets, and liabilities. This information is used by the IRS to determine the taxpayer's ability to pay their tax debt.

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