Form 656-B ND 2024-2025

Form 656-B ND: What You Should Know

Offer in Compromise Booklet The offer in Compromise booklet provides you with a step-by-step guide to completing a tax year Offer in Compromise. If you need help calculating the amount you will be required to pay, we can do that for you. Our team of seasoned IRS professionals can determine the amount you will have to pay each year and provide an estimate based on the information contained in your Offer in Compromise Booklet. We will work closely with you to make our best estimate. You will be contacted within a few days with details of the offer that you will be required to offer to the IRS. IRS Form 656.5 Pre-Qualified Offer in Compromise You will receive and review your Offer in Compromise Booklet. The IRS will determine the total amount you will be required to pay, based on your total income tax owed. If I owe tax to the federal government, how can I resolve my unpaid taxes? If you have unresolved federal tax issues, you should contact a local independent tax professional for assistance. We can offer advice to address any federal tax issues. If I can't pay my taxes, how do I make a payment with alternative payments? If you don't qualify for payment plans, you will need to work with an independent tax accountant to calculate the amount owed. The IRS offers an installment agreement program that enables individuals to make installment payments. In addition, the IRS has a payment assistance program. The IRS also has a self-assessment program under which taxpayers can make voluntary payments each year to resolve their filing problems. I am currently in default on taxes but want to be paid in installments. Does the IRS accept tax payment installment plans? Payment Plan Authorization Agreement (PLEA) Individual taxpayers with delinquent tax returns should request an installment agreement within three (3) years from the date of the delinquency date. The Taxpayer Advocate Service (TAS) encourages taxpayers with delinquent tax returns to use an installment agreement to manage the payment of delinquent tax due. Taxpayers who are delinquent in filing their tax returns on the first day of the fourth calendar month, or on or before the due date of the return for the previous year should submit an Annual Payment Request form PLEA to the address listed on the form. The tax authority may allow a taxpayer to prepay by electronic transfer.

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