Printable Form 656-L Hayward California 2024-2025

Printable Form 656-L Hayward California: What You Should Know

It is important for you to make your completed Offer in Compromise to settle the debt, which should be at least 3,000. To avoid an IRS penalty, you must make this statement at the time of filing your tax return to the month prior to the month in which you file. The penalty amounts are in U.S. dollars per month. If you fail to offer in compromise, you must pay all accrued interest and penalties. If you do not do so, you will most likely be assessed additional interest and/or penalties. Once you have filed your tax return and offered a Form 656-L if any of the debt has been settled, the IRS will issue a notice, in the manner described in section 703(b) of Pub. 515, to advise you of your payment of all accrued interest and penalties. In addition, any tax owed on the amount you are unwilling to pay is also added to your tax liability. As to the amount of the settlement, this amount will be taken from the amount of any payments of interest or penalties and will be stated either on the tax return or at the end of this notice. The deadline for filing an Offer in Compromise is within 45 days after the IRS's notice has been sent. In some cases, you might want to make a settlement offer while the debt is pending. If you make an offer while the debt is pending, you must complete and sign a copy of the notice to confirm receipt of the offer; it must be received by the IRS no later than 5:00 p.m. on the last day of the filing tax period. To make an offer in compromise, you also must notify the agency (e.g., IRS Service Center) that you made the offer within the 45-day period. The agency may reject your Offer in Compromise if you do not send in the notice and documentation. If you are the holder of the IRS debt and cannot claim a settlement, you cannot make an offer. It is very important that you fully comply with the requirements of the Offer in Compromise. Please check your tax return and ensure that an offer in compromise is included. NOTE: The deadline to file Form 656-L, Offer in Compromise (Doubt As to Liability) is April 25, 2019. Please check the website for further details and resources, including filing instructions and forms. See IRM 4.

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