Get the free OIC Schedule 3 Offer in Compromise Based on Doubt as to Liability

Michigan Department of Treasury 5185 (1114), Page 1 Reset Form OIC Schedule 3 Offer in Compromise Based on Doubt as to Liability Issued under authority of Public Act 122 of 1941 and Public Act 240

How to fill out oic schedule 3 offer

How to Fill Out OIC Schedule 3 Offer:

1. Start by obtaining the OIC Schedule 3 form from the appropriate government agency or website.
2. Carefully read through the instructions provided on the form to understand the requirements and necessary information to complete it accurately.
3. Begin filling out the form by providing your personal details such as your name, address, Social Security number, and contact information.
4. Next, provide information related to the tax liability for which you are seeking an offer in compromise. This includes the type of tax, tax year(s), and the amount you owe.
5. Indicate whether you have filed and paid your taxes for the previous five years. If not, explain the reason for non-filing or non-payment.
6. Next, you may be required to provide supporting documentation to substantiate your financial situation. This may include bank statements, pay stubs, tax returns, or other financial records. Ensure you gather and attach the necessary documents as instructed.
7. Be prepared to disclose your current income, expenses, and assets by completing the relevant sections of the form. Provide accurate information to the best of your knowledge.
8. Furthermore, you may need to explain any extraordinary circumstances that might affect your ability to pay the tax liability in full. It is crucial to provide a detailed and honest explanation in this section.
9. Review the completed form thoroughly to ensure all information is accurate and complete. Make sure you have signed and dated the form, as failure to do so may result in processing delays.

Who Needs OIC Schedule 3 Offer:

1. Individuals who are unable to pay their tax liability in full and seek to settle it through an offer in compromise may need to fill out OIC Schedule 3.
2. This form is typically required when applying for an offer in compromise to the tax authorities, such as the Internal Revenue Service (IRS) in the United States.
3. It is important to consult with a tax professional or seek guidance from the relevant tax agency to determine if you qualify for an offer in compromise and if OIC Schedule 3 is applicable in your situation.

For pdfFiller’s FAQs

What is oic schedule 3 offer?

OIC Schedule 3 offer is a form used by taxpayers to provide detailed information about their Offer in Compromise.

Who is required to file oic schedule 3 offer?

Taxpayers who are submitting an Offer in Compromise to the IRS are required to file OIC Schedule 3 offer.

How to fill out oic schedule 3 offer?

OIC Schedule 3 offer can be filled out by providing detailed information about the taxpayer's financial situation and the proposed offer amount.

What is the purpose of oic schedule 3 offer?

The purpose of OIC Schedule 3 offer is to provide the IRS with a comprehensive overview of the taxpayer's financial situation and the proposed offer amount.

What information must be reported on oic schedule 3 offer?

Information such as income, expenses, assets, liabilities, and the proposed offer amount must be reported on OIC Schedule 3 offer.

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