Form 656 North Carolina 2024-2025

Form 656 North Carolina: What You Should Know

Generally, you can submit this form for two basic reasons. First you are claiming that your tax debt is less than you owe. Second, you are claiming a greater income tax benefit by submitting an offer in compromise. (For example, you're claiming to make less on your Social Security disability or survivor benefits.) You can use the following table to help you estimate your tax debt, as well as the income tax benefits you might achieve by submitting an offer in compromise. If you are claiming to pay less, you need to fill out Form 1832 with a full explanation. You will receive Form 656-B with an initial offer in settlement. There are two different versions, but if your tax debt is more than six figures, you need to file Form 656-B, which is only for lower income cases. For individuals and estates, IRS Form 656-B is the only option. Note: If you have two or more incomes and have been paying federal income tax for the last 18 or 24 months, or have an adjusted gross income of 1 million or more, you should file Form 6211.

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