ID Form 656-L 2024-2025

ID Form 656-L: What You Should Know

If you qualify, the IRS can accept your offer to waive your taxes in exchange for you signing an acknowledgement of fault and responsibility stating that you were not personally responsible for the tax debt. A copy of the acknowledgement will be attached to your offer in compromise. You do not need to sign this acknowledgement in order to receive a reduced or nonexempt tax liability or a reduced or nonexempt tax deduction because the IRS will not withhold income tax from your wages if your offer of a compromise OIC is accepted. Note: If you do not qualify as a pre-qualified offer in compromise, you will want to check with your own lawyer about whether there is a way to obtain the relief you need without signing an acknowledgement. Checking Off the IRS List If you check off the name of a tax professional as the IRS does in many cases of tax deficiency cases, the IRS may consider you to represent your tax provider as the taxpayer's representative when it does not have actual knowledge that the taxpayer owes tax liability (e.g. if you are representing an attorney, you do not need to personally know the attorney or be a personal representative). Also, if you report more than 200,000 in wages or have nonemployee business interests, you may be required to obtain some of your pay as a representation fee from your tax provider. So, If you don't know your tax provider yet, you may need to verify that your tax provider is not on the list of entities the IRS uses to determine whether your claim is legitimate and not a false statement. The most reliable way to learn your tax provider is to call the toll-free telephone number or . When you make your offer in compromise, the IRS will send you a list of entities that it may consider the taxpayer an assignee of as an assignee of tax debt. This is known in tax law as a person responsible for the tax debt. A check or other communication to this entity can also be an offer in compromise and may include an acknowledgement. It is important for you to verify that your individual tax professional is not on the list of individuals the IRS considers to be an assignee of the tax debt before the offer in compromise is signed. Taxpayers cannot claim that their own individual tax professional is an assignee of the tax debt.

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