The Center For Debt Management
Debt Relief

Debt Consultation

Debt Settlement

Debt Consolidation

Debt Management

Credit Counseling

Filing Bankruptcy

Budget Software

Tax Debt Relief

Student Debt

Business Debt

Stop Foreclosure

Credit Report

Legal Resources

Credit and Financing

Financial Resources

Income Resources

US Tax Center

Insurance Center


Financial Library

Financial Bookstore


 

Do You Qualify For An
IRS Offer in Compromise

The objective of the Offer in Compromise (OIC) program is to accept an OIC when it is in the best interest of both the taxpayer and the government and promotes voluntary compliance with all future payment and filing requirements.

If you are unable to pay your tax liability in a lump sum or through an installment agreement and you have exhausted your search for other payment arrangements, you may be a candidate for an offer in compromise.

In order for your offer in compromise to be considered, you must meet the following requirements:

  • You are not a debtor in an open bankruptcy proceeding

  • Include the $150 application fee, or a signed Form 656-A,
    Income Certification for Offer in Compromise Application
    Fee and Payment

  • Submit one of the following payments with the offer:

    • Lump Sum Offer- 20 percent payment or a signed From 656-A, Income Certification for Offer in Compromise Application Fee and Payment

    • Periodic Payment Offer- The first installment or a
      signed Form 656-A, Income Certification for Offer
      in Compromise Application Fee and Payment.

Low Income Exemption and Guidelines

The application fee is waived if an individual (not a corporation, partnership or other entity) taxpayer s income falls at or below IRS Low Income Guidelines. The Form 656, Offer in Compromise, contains a worksheet titled IRS Monthly Low Income Guidelines Worksheet  designed to assist taxpayers in determining whether they are eligible for the low income exemption. Qualifying taxpayers are also exempt from making any OIC payments while the offer is being investigated.

Once you have determined that you are eligible for the low income exemption, you must submit Form 656-A, Offer Certification for Offer in Compromise Application Fee and Payment. The worksheet along with Form 656-A must be attached to the Form 656 application and mailed to the IRS for consideration.


 
Over 2,000 Pages of Content
Center For Debt Management

Center For Debt Management

The Center For Debt Management

Helping Consumers Save Money and Reduce Debt Is Our Only Business!

We invite you to explore the sectors listed below. We promise that you'll find exceptional values, offers and resources to reduce your living expenses and to enjoy life! But First—if you're over-your-head in debt—get a free no-obligation debt consultation right now!
 


Debt Management and Financial Services! The Internet's oldest and most comprehensive debt management agency! Resources for debt management, consumer credit counseling, debt consolidation loans, debt settlements, legal aid, financial aid, credit and financing, credit reports, budget software, insurance, income resources, tax assistance and more. Get out of Debt! Call Now — 1800DEBT.COM

Established In 1989 and Serving The Online Community Since 1992!

Get Out Of Debt: Call 1800Debt.com

Center For Debt Management