Get the free CT-656, Offer of Compromise. Offer of Compromise

Department of Revenue Services Collections & Enforcement 25 Sigourney Street Hartford CT 06106 Form CT656 Offer of Compromise Rev. 03/08 Name, DBA, and Address of Taxpayer(s) Date of Birth Number

How to fill out ct-656 offer of compromise

1. To fill out the CT-656 offer of compromise, you will need to gather all the necessary information and documents. This includes your personal details, such as your name, address, and social security number, as well as any supporting financial documents that demonstrate your inability to pay the full amount owed.
2. Start by carefully reading the instructions provided on the CT-656 form. This will give you a clear understanding of what information is required and how to complete each section properly.
3. Begin filling out the form by providing your personal information in the designated fields. Double-check for accuracy and make sure to include any necessary attachments or supporting documentation as requested.
4. The CT-656 form will also require you to provide details about your financial situation. This includes disclosing your income, assets, expenses, and liabilities. Make sure to gather all relevant documents, such as tax returns, bank statements, and proof of any outstanding debts.
5. Fill out the section that explains the reason for your offer of compromise. Provide a detailed explanation of your financial hardship and why you are unable to pay the full amount owed. Supporting documentation, such as medical bills, unemployment records, or other relevant proof, can strengthen your case.
6. Before submitting the form, carefully review all the information provided to ensure accuracy and completeness. Any errors or missing information could delay the processing of your offer.

Who needs the CT-656 offer of compromise?

The CT-656 offer of compromise is typically needed by individuals and businesses facing financial hardships and are unable to pay their tax liability in full. It is designed for taxpayers who genuinely cannot meet their tax obligations due to financial constraints.

This form is commonly used by taxpayers in Connecticut who wish to negotiate a settlement with the Connecticut Department of Revenue Services (DRS). By submitting the CT-656 offer of compromise, individuals or businesses can propose a reduced payment amount that they can reasonably afford.

It is worth noting that not everyone is eligible for an offer of compromise. The DRS will carefully review each case to determine if the taxpayer meets the necessary criteria and if the proposed offer is reasonable based on their financial situation.

Overall, the CT-656 offer of compromise is a valuable tool for taxpayers who are struggling financially and need assistance in resolving their tax liabilities. It provides a potential opportunity to settle the debt for less than the full amount owed, helping to alleviate the burden of overwhelming tax obligations.

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