Bronx New York online Form 656-B 2024-2025

Bronx New York online Form 656-B: What You Should Know

This form will allow you to negotiate with the IRS and request a tax compromise agreement for your federal tax liability.  How to Complete IRS Form 656 You must first determine your federal income tax obligation. Enter all the facts and figures provided in this form. The IRS forms are designed to allow you to enter information about yourself, your income, the amount of income earned, and the amount of income you think you may owe the IRS. Once you have calculated your tax liability, enter the amount of you claim in that column and the total amount of taxes owed for all individuals or all taxpayers. The total amount that the IRS must agree to under the Offer in Compromise must equal the lowest of: Your tax liability, plus the amount of the tax liability claimed. If the IRS doesn't agree to reduce your tax liability by the amount you claim, you may still negotiate with them, so your federal tax liability remains unchanged, and you can collect your refund. Form 656-B: (Instructions) There are many forms you can use to make your request for an IRS Offer in Compromise. If you don't already have a completed Form 656 already, see If you don't already have an IRS file account, see Preparing to File Your Taxes electronically.

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