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5 Catalog Number 16728N Form 656 Offer in Compromise This Offer in Compromise Package Includes I Information You Need to Know Be
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What is the form 656 offer in compromise?
The Form 656 identifies the tax years and type of tax you would like to compromise. It also identifies your offer amount and the payment terms. Your offer amount must be equal to or greater than the amount calculated in Form 433-A(OIC) or 433-B(OIC). -
How much should I offer on my offer in compromise?
An offer in compromise (with doubt as to collectability) to the IRS should be equal to, or greater than what the IRS calculates as the taxpayer's reasonable collection potential. -
What qualifies you for an offer in compromise?
To qualify for an OIC, the taxpayer must have filed all tax returns, have received a bill for at least one tax debt included on the offer, made all required estimated tax payments for the current year, and if the taxpayer is a business owner with employees, the taxpayer must have made all required federal tax deposits ... -
Does an IRS offer in compromise hurt your credit?
Will Filing an Offer in Compromise Affect My Credit? While the IRS may review your credit history as part of their evaluation of your OIC, your credit score will not be impacted by your compromise application.
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