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IRS Department of the Treasury Internal Revenue Service www.irs.gov Form 656-B (03-2009) Catalog Number 52133W Form 656-B Offer in Compromise Booklet IMPORTANT! THIS BOOKLET CONTAINS INFORMATION AND

How to fill out form 656-b 3-2009

How to fill out form 656-b 3-2009:

1. Begin by carefully reviewing the instructions provided with form 656-b 3-2009. These instructions will guide you through the process and explain each section of the form.
2. Ensure that you have all the necessary information and documents required to complete the form accurately. This may include your personal information, financial details, and any supporting documentation requested.
3. Start by filling out your personal information in the designated fields. This typically includes your name, address, social security number, and other identifying details.
4. Proceed to provide information about your financial situation, such as your income, assets, and liabilities. Be sure to complete all sections accurately and honestly, as any false information can result in penalties or legal consequences.
5. If applicable, include any additional documentation or explanations that may support your financial situation. This could include proof of income, bank statements, or statements from creditors.
6. Review the completed form thoroughly to ensure all information is accurate and legible. Make any necessary revisions or corrections before submitting.
7. Sign and date the form as required. If you have a representative assisting you with the filing, they may also need to sign the form.
8. Keep a copy of the completed form and any supporting documentation for your records.
9. Submit the form to the appropriate entity as instructed in the form's instructions. This may be a government agency, such as the Internal Revenue Service (IRS), or another organization.

Who needs form 656-b 3-2009:

1. Individuals who have tax debts and are seeking to negotiate a settlement with the IRS may require form 656-b 3-2009.
2. This form is specifically used for submitting an Offer in Compromise (OIC), which allows taxpayers to settle their tax debt for less than the full amount owed.
3. The form is used by taxpayers who believe they have a legitimate reason for not being able to pay their full tax liability, such as financial hardship or doubts on the validity of the debt.
4. It is important to note that not everyone is eligible for an OIC, and individuals should carefully review the eligibility criteria before completing the form.
5. Seeking professional guidance from tax professionals or attorneys experienced in negotiating with the IRS can be beneficial when filling out form 656-b 3-2009, as they can provide assistance and advice tailored to your specific situation.
6. It is recommended to consult the latest instructions and guidelines provided by the IRS to ensure accurate and up-to-date information is included in the form.

For pdfFiller’s FAQs

What is form 656-b 3?

Form 656-b 3 is a Collection Information Statement for Businesses, used by the IRS to collect financial information from small businesses.

Who is required to file form 656-b 3?

Small businesses or corporations with tax debts are required to file form 656-b 3.

How to fill out form 656-b 3?

Form 656-b 3 must be filled out accurately and completely, providing detailed financial information as requested by the IRS.

What is the purpose of form 656-b 3?

The purpose of form 656-b 3 is to help the IRS assess the financial status of small businesses with tax debts and determine the appropriate collection actions.

What information must be reported on form 656-b 3?

Information such as assets, income, expenses, and liabilities of the business must be reported on form 656-b 3.

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