Form 656-L Texas 2024-2025

Form 656-L Texas: What You Should Know

OIC Offer in Compromise Pre-Qualifying.  Taxpayers who enter “yes” for this question will be considered eligible for an OIC offer in compromise (OIC). Offer in Compromise — IRS If you have a genuine doubt that you owe a tax debt, you will need to complete a Form 656-L, Offer in Compromise (Doubt as to OIC. Inability to Pay). Taxpayers who enter “yes” for this question will be considered eligible for an OIC offer in compromise (OIC). Offer in Compromise, Income Tax Liability — IRS If you have a genuine doubt that you owe the maximum liability for federal income tax liability under IRC Section 6695A, enter the amount of your tax liability on line 2a. Offer in Compromise, Tax Information Required To Qualify and the Minimum Tax — IRS This section is for taxpayers under the age of 18 years (or under age 18 after age 21 if the tax returns are filed in the year they're filed, and there are no more than 21 taxable years remaining) or for taxpayers under the age of 59½ (or underage 59½ after death of the taxpayer and under the age of 61½ if filing a joint return or you elect a “surviving spouse” credit). This section only applies if the taxpayer has a genuine doubt of the amount or legality of the tax liability. Offer in Compromise, Tax Due — IRS This section may be submitted by any taxpayer who has the legal capacity to enter into an OIC If you need to submit this form, and you are not claiming or claiming a tax credit, enter “no” on line 3. This section is for taxpayers who have received the notice indicating the amount of their tax liability. Enter the liability as shown on the notice. This section is for taxpayers who do not know their liability, but you do. Enter your net tax liability, which will include the amount of tax due, minus the amount of any credit or refund. (If you were not issued a Notice of Federal Tax Lien, this can be filled out for the period when your debt was due.) Income tax withholding for employees: Form 8919, Employer's Record of Tax Withholding The Form 8919 should be used by businesses who received the notice and will need to submit payroll/tax withholding information for their employees.

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