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The booklet describes what happens after submitting an application, the conditions that must be met before an offer can be evaluated, and eligibility boundaries involving unfiled returns, bankruptcy, open audits, innocent spouse claims, and deactivated ITINs. It also clarifies that certain situations prevent IRS acceptance.",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":35,"@type":76,"position":81},"https://docshare.wps.com/document/healthcare/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/offer-in-compromise-form-656-booklet-what-you-need-to-know/203287/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/offer-in-compromise-form-656-booklet-what-you-need-to-know/203287.png","ImageObject",300,407,{"name":92,"@type":93},"Jordan Avery","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-23","2026-09-04",true,{"@type":102,"interactionType":103,"userInteractionCount":39},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"What is an Offer in Compromise under IRS Form 656?","Question",{"text":112,"@type":113},"An Offer in Compromise is an agreement between the taxpayer and the IRS to settle a tax debt for less than the full amount owed. It is intended for eligible taxpayers and depends on the taxpayer’s ability to pay.","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"What steps must be completed before the IRS can consider an Offer in Compromise?",{"text":117,"@type":113},"Before consideration, the taxpayer must file all legally required tax returns, receive a bill for at least one tax debt included in the offer, make required estimated tax payments for the current year, and meet required federal tax deposit obligations for certain business situations.",{"name":119,"@type":110,"acceptedAnswer":120},"When is a taxpayer generally not eligible to apply or when can an offer be rejected?",{"text":121,"@type":113},"The IRS will not consider an offer if the taxpayer has a deactivated ITIN or if unfiled required returns exist, and open bankruptcy generally prevents applying. The IRS also generally will not accept an offer if the taxpayer can pay the debt in full through an installment agreement and/or available equity in assets.","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},203287,1788558871,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":34,"category_name":35,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":39,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":139,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":129,"read_time":144},1099523882367,"https://ap-avatar.wpscdn.com/davatar_9964176cb1d06d4a9deccf72a44ae3dc","Form 656 Booklet  \nOffer in Compromise  \nCONTENTS  \n■ What you need to know………………………………………………………………………………………………………………1  \n■ Paying for your offer………………………………………………………………………………………………………………3  \n■ How to apply …………………………………………………………………………………………………………………………4  \n■ Completing the application package ………………………………………………………………………………5  \n■ Important information……………………………………………………………………………………………………………………6  \n■ Removable Forms - Form 433-A (OIC), Collection Information Statement  \nfor Wage Earners and Self-Employed Individuals; Form 433-B (OIC),  \nCollection Information Statement for Businesses; Form 656, Offer in  \nCompromise ………………………………………………………………………………………………………………………………7  \n■ Application Checklist…………………………………………………  \n……………………………………………………………29  \nDo I Qualify for an Offer in Compromise?  \nTo see if you qualify for an Offer in Compromise before filling out the paperwork, you may use the  \nIndividual Online Account(IOLA) or the Offer in Compromise(OIC) Pre-Qualifier tool to check your  \neligibility and compute a preliminary offer amount. These tools help identify the asset,income, and  \nexpense information that is needed and willprovide instant feedback as to your eligibility based on the  \ninformation you enter. Please note the eligibility determination provided by these tools does not  \nguarantee that your Offer in Compromise will be accepted.  \nSign in or create your Individual Online Account at IRS.gov/OLA or access the OIC Pre-Qualifier tool at  \nIRS.gov/OICtool.You may also scan the “IOLA”or\"OIC Pre-Qualifier”QR code on the right with your  \nsmart device to access either your Individual Online Account or the pre-qualifier tool.  \nTaxpayer resources  \nFind step-by-step information on how to complete an Offer in Compromise by visiting  \n\"Offer in Compromise Form 656 Booklet\" or visit IRS aoy/OIC for more information about the Offer in  \nCompromise process. See Offer in Compromise FAQs for answers to frequently asked questions and  \nwhat to expect when you submit an offer. Find tax forms and publications by visiting IRS.gov/forms or  \ncalling 800-TAX-FORM(800-829-3676). If you have additional questions regarding qualifications for an  \nOffer in Compromise, call our toll-free number at 800-829-1040.  \nAll taxpayers have a set of fundamental rights they should be aware of when interacting with the IRS.  \nFor more information on your rights as a taxpayer, go to IRS.gov/Taxpayer-Bill-of-Rights.  \nThe Taxpayer Advocate Service(TAS) is an independent organization within the Internal Revenue  \nService (IRS) that helps taxpayers and protects taxpayers' rights. TAS can offer you help if your tax  \nproblem is causing a financial difficulty, you've tried and been unable to resolve your issue with the  \nIRS, or you believe an IRS system, process, or procedure just isn't working as it should. If you  \nqualify for TAS assistance, which is always free, TAS will do everything possible to help you. Visit  \nWww taxpaveradyocate irs aoy or call 877-777-4778  \nLow Income Taxpayer Clinics (LITCs) are independent from the IRS and TAS. LITCs represent  \nindividuals whose income is below a certain level and who need to resolve tax problems with the  \nIRS. LITCs can represent taxpayers in audits, appeals, and tax collection disputes before the IRS  \nand in court. In addition, LITCs can provide information about taxpayer rights and responsibilities  \nin different languages for individuals who speak English as a second language. Services are  \noffered for free or a small fee. For more information or to find an LITC near you, see the LITC  \npaae at www.taxpaveradvocate.irs.aov/litc or IRS Publication 4134.Low Income Taxpaver Clinic  \nList. This publication is also available online at IRS.aov/forms-Dubs or bv callina the IRS toll-free at  \n800-TAX-FORM (800-829-3676).  \nIOLA  \nOIC  \nPre-Qualifier  \n# WHAT YOU NEED TO KNOW\n\nAn Offer in Compromise (offer)is an agreement between you (the taxpayer)andthe IRS that settles a tax debt for less than the full amount owed.The ","cbCaikJJb0TrQdzi","https://ap.wps.com/l/cbCaikJJb0TrQdzi","pdf",1027969,32,"English","# What you need to know\n## What is an Offer?\n## Are you Eligible?","[{\"question\":\"What is an Offer in Compromise under IRS Form 656?\",\"answer\":\"An Offer in Compromise is an agreement between the taxpayer and the IRS to settle a tax debt for less than the full amount owed. It is intended for eligible taxpayers and depends on the taxpayer’s ability to pay.\"},{\"question\":\"What steps must be completed before the IRS can consider an Offer in Compromise?\",\"answer\":\"Before consideration, the taxpayer must file all legally required tax returns, receive a bill for at least one tax debt included in the offer, make required estimated tax payments for the current year, and meet required federal tax deposit obligations for certain business situations.\"},{\"question\":\"When is a taxpayer generally not eligible to apply or when can an offer be rejected?\",\"answer\":\"The IRS will not consider an offer if the taxpayer has a deactivated ITIN or if unfiled required returns exist, and open bankruptcy generally prevents applying. The IRS also generally will not accept an offer if the taxpayer can pay the debt in full through an installment agreement and/or available equity in assets.\"}]","Offer in Compromise - Form 656 Booklet - What You Need to Know | PDF",81]