The IRS updated its Offer in Compromise booklet and released new forms for the Offer in Compromise program. The revised forms can be found at https://www.irs.gov/pub/irs-pdf-f656b.pdf.
In March 2019, the IRS updated the IRS Forms 433-A and B (OIC), the Collection Information Statements for Individuals and Businesses. It is critical that all newly submitted Offers include the revised IRS Form 433-A and/or B (OIC) with Offers in Compromise. Failure to utilize the new forms after the revision date may result in the rejection of the Offer.
The IRS also updated the IRS Form 656, Offer in Compromise. The IRS Form 656 sets forth the offer amount and the general terms of the Offer.
Please contact the experienced tax attorneys at Terrence A. Grady & Associates if you owe substantial tax liabilities to the IRS and would like to know whether you qualify for the Offer in Compromise program. Call today at 614-849-0377.