An IRS offer in compromise can help you settle tax debt for less than you owe, but it's difficult to qualify for.

Applying for an Offer in Compromise requires substantial paperwork and documentation. You'll need to complete Form 656 (the actual offer) and Form 433-A or 433-B (detailed financial statements).

The offer in compromise is an IRS program designed for some taxpayers to pay their tax debt for less money than the amount they owe.

Qualify for an IRS Offer in Compromise to settle tax debt for less. Meet strict criteria, prove financial hardship, and submit required forms and payments.

Your offer must include the $205 application fee or a completed Form 656-A, Income Certification for Offer in Compromise Application Fee and Payment, if you are requesting an exception of the fee ...

For step-by-step directions and the required OIC forms, review Form 656-B, the Offer in Compromise Booklet. Any payments submitted with your application form are nonrefundable and will be applied ...

On April 24, 2001, he filed Form 656, Offer in Compromise, for tax years 1986, 1987 and 1993 to 1999. On May 7, 2001, the IRS sent Dutton a letter granting partial relief from joint and several ...

If you qualify, submit Form 656 (Offer in Compromise) along with Form 433-A (Collection Information Statement) and the application fee (which may be waived for low-income taxpayers).

If a taxpayer is unable to afford their complete tax debt, they may be able to make a compromise for a lower amount due. A tax expert explains what the compromise process looks like and which ...

Offer in Compromise mills aggressively promote “offers” in misleading ways to people who clearly don’t meet the qualifications, frequently costing taxpayers thousands of dollars.

IRS Offer in Compromise Acceptance and Payment Plan After you submit your application, the IRS will review your offer and assets to decide if your OIC is accepted or rejected.