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richosasimohan · Joined: 18 Jul 2007 Posts: 38 23.61 Dollars($)

I am unable to pay my delinquent taxes. Will an Offer be accepted in Compromise?

karthikeyamurugesan · Joined: 18 Jul 2007 Posts: 9 4.70 Dollars($)

I don think so...to get more info about taxes kindly look on to this site : http://www.ustreas.gov/ I hope you will get an idea..dude

sara

Hi Richo,

If you are unable to pay delinquent taxes, then you may get the chance to file an Offer in Compromise (OIC). But the IRS will verify if you are at all unable to pay the tax in a lump sum payment or through installments.
The Offer in Compromise helps to taxpayers settle their liabilities towards taxes for less than what they have to pay.

However, delinquent taxpayers need to check in OIC form (form 656) as to whether they qualify for the offer.

Take Care

richosasimohan · Joined: 18 Jul 2007 Posts: 38 23.61 Dollars($)

Where to get this OIC form (form 656) and is there any procedure behind this.

adonis · Posted: Fri Jul 20, 2007 12:06 am Post subject:

Richo,

Nice to see you here.

You can get the OIC form from IRS website at http://www.irs.gov/pub/irs-pdf/f656.pdf .

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