MI Form 656 2024-2025

MI Form 656: What You Should Know

You can't file form 656 directly with the IRS, because to do so would involve a form 765. Instead, you will file Form 656 in the U.S. Treasury with the U.S. Tax Court.  Step 7 — Make an Offer — IRS To make the offer (which does include the “in compromise” information), you will use form 6106, the “offer in compromise.” Make sure you fill out the entire form correctly and include the required information. You'll send the Form 6106 to U.S. Tax Court with the following cover sheet: Form 6106 Offer in Compromise Request for Payment In the form of: 1. Tax liability due to the tax years or types of tax you choose, 2. Amount of initial offer in compromise amount, 3. Number of taxable years or types of tax to be paid in full on initial offer in compromise, 4. Payment in full of initial offer in compromise, 5. Accepted Federal Offer in Compromise, 6. Notice of acceptance of the Form 6106, 7. IRS Form 656 Booklet, and 8. Certification of your request for payment in full. You'll sign the form in the presence of a notary public. You may be asked to sign another document if your state allows the notary public to make the declaration. Note: In some states, you will be called for in person. If that's the case, sign the form right away (before you get to the notary public) to avoid delays in the process. Form 6106: Form of Payment in Compromise — In Payment due by 5p.m. on the 15th day of the tax year the first year of compromise is to begin, or the latter of September 15th and 60 days after the deadline if no agreement is in effect. See Notice 2007-34, Ex., “Notice of Tax Liability in Compromise.” What If You Don't Make an Offer? If you don't make an offer to pay the tax liability in full by the deadline, then (and only if you don't negotiate a lower settlement and the IRS rejects your offer in compromise): You can't file an amended return and get a refund (Form 1040X) If You Make an Offer The offer, if accepted, makes a payment in full to the IRS and does not reduce your tax liability.

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