6 Simple Steps to an Offer-in-Compromise: Completing Form 656

Table of Contents

  1. Understanding the “Offers”
    • Doubt as to Liability
    • Effective Tax Administration
    • Doubt as to Collectability
  2. Influence/optimize the outcome
  3. Strategies for Offers
  4. Presenting the Offer
  5. Setting Expectations
  6. Plan for Appeals
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  • List of Resources available for 6 Simple Steps to an Offer-in-Compromise

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6 Simple Steps to an Offer-in-Compromise – Resources

Collections Financial Standards Tables
http://www.irs.gov/individuals/article/0,,id=96543,00.html

IRS e-Services System
http://www.irs.gov/taxpros/article/0,,id=109646,00.html

IRS TaxToolKit
http://www.taxtoolkit.irs.gov/

Pitbull Collections Software

http://snurl.com/pitbulltax
(Disclosure – we receive a commission. You can, too, for referring them to clients.)

Need help  – Consult  Tom Buck, CPA and Sonya Wilt, EA
http://www.buckcpataxsolutions.com/

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6 Simple Steps to an Offer-in-Compromise: Completing Form 656 - Powerpoint Course

Links to www.irs.gov PDFs

Form 656-B – IRS Offer in Compromise Booklet
http://www.irs.gov/pub/irs-pdf/f656b.pdf

Form 656-L – Doubt as to Liability
http://www.irs.gov/pub/irs-pdf/f656l.pdf

433A – Collection Information Statement for Wage Earners and Self-Employed Individuals
http://www.irs.gov/pub/irs-pdf/f433a.pdf 

433B – Collection Information Statement for Businesses
 http://www.irs.gov/pub/irs-pdf/f433b.pdf 

433F – Collection Information Statement

http://www.irs.gov/pub/irs-pdf/f433f.pdf 

Form 2848 – Power of Attorney

http://www.irs.gov/pub/irs-pdf/f2848.pdf

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