Modesto California Form 656-L 2024-2025

Modesto California Form 656-L: What You Should Know

Use as a template for filing a document that shows you owe only a small amount or an amount equal to zero tax to meet the IRS' offer in compromise to avoid having to pay tax on  the remaining amount. Modesto, CA to Modesto, CA Form 656-L, Offer in Compromise If the  total of the debt you owe the US is  greater than 90,000 (see  section below), you may be eligible for an offer in  compromise to reduce the total amount you owe Pay for your debt Tax free In other words, this offer in compromise does not discharge your debt — it merely allows you to take advantage of lower taxes. If you have tax issues and are interested in  a Debt Settlement, you should use this form. Form 7062-L — IRS Information Return to Form 7062 or 706.1a, Federal income tax return, which will give the amount due in your  personal income tax return if you are a citizen with income, employment, or investment activity in Mexico or U.S. territory Puerto Rico. If you are  a non-resident or a Mexican immigrant, a Mexican-born resident of a U.S. territory, of U.S. territory Puerto Rico, or a resident of Mexico, you may not qualify under the provisions of this offer. The offer is not valid for taxpayers who are not residents or U.S. citizens or non-residents who were not U.S. citizens at the time of their birth or were in a U.S. territory as of the date of their birth. You must apply for Form 7062-L, Federal income tax return, using  this form to file your federal income tax return. The Department of the Treasury will send Form 7062-L to the address shown on your U.S. tax return. If you do not file your taxes and get a refund, you will be subject to interest from the date of tax payment through the due date of  your return. If you want to file a 1040-Line Income Tax Return, but you do not file a return for the tax year (see Section 804 below) you do not  qualify for the offer in compromise.

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