Offer in Compromise Requirements

In order to be considered for an OFFER IN COMPROMISE, a taxpayer must meet all of the following requirements:

• Used the most current versions of Form 656, "Offer in Compromise," and Forms 433-A and 433-B, "Collection Information Statements" . The most current versions are dated May 2001;
• Submitted the $150 application fee, or Form 656-A, "Income Certification for Offer in Compromise Application Fee," with the Form 656;
• Filed all required federal tax returns;
• Filed and paid any required employment tax returns on time for the two quarters prior to filing the OFFER IN COMPROMISE, and is current with deposits for the quarter in which the offer in compromise was submitted; and
• Is not a debtor in a bankruptcy case.

Taxpayers must comply with all federal tax filing and paying requirements for a period of five years following acceptance of their OFFER IN COMPROMISE, or until the OFFER IN COMPROMISE is paid in full, whichever is longer. This also includes making required estimated tax payments and federal tax deposits.

MyOfferInCompromise is not intended to be used as legal advice and is not intended as a substitute for professional help. We strongly recommend that you consult legal counsel or other professional prior to submitting an offer in compromise. You must review and agree to Terms Of Use prior to using this site or downloading MyOfferInCompromise package. MyOfferInCompromise all rights reserved 2004.