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Form 656-L for South Carolina: What You Should Know

Note: This is not an offer in compromise in the sense that you are not making an offer, but it may be a good first step if you are unsure about your liability. IRS Form 656-L (Offer in Compromise Doubt as to Liability) For individuals this section describes some tax consequences in general terms and what you can expect to receive. IRS Form 656-L (Offer in Compromise and Tax Consequences) For businesses or partnerships, the information that you may find helpful in determining the likelihood of payment and the amount you can pay, and any other options available to you. IRS Form 656-L Booklet This booklet will tell you what types of offers are available for your type of tax situation. It will also tell you how to fill out the Form 656 Offer In Compromise (Form 656-L). It is also very helpful to you if your tax situation involves a trust, partnership, or corporation, which is a separate legal entity and must also be dealt with separately by you.

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