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Information about Form 656, Offer in Compromise, including recent updates, related forms, and instructions on how to file. Use Form 656 when applying for an offer in compromise (OIC), an agreement between you and the IRS that settles your tax liabilities for less than the full amount owed.

IR-2022-33, February 15, 2022 ¡ª The Internal Revenue Service announced today that Form 14457, Voluntary Disclosure Practice Preclearance Request and Application, has been revised, including expanding a section on reporting virtual currency.

We are reviewing your installment agreement and need you to provide updated financial information. Call us by the date on your notice to prevent your installment agreement from being terminated.

CP522 informs you we need financial information from you to determine the correct payment for your current installment agreement.

Tax Tip 2023-71, May 24, 2023 ¡ª After the IRS rejects an offer in compromise, taxpayers have 30 days from the date on the rejection letter to request an appeal of the decision.

Tax Tip 2024-54, May 30, 2024 ¡ª If the IRS rejects an offer in compromise, taxpayers have 30 days from the date on the rejection letter to request an appeal of that decision.

Tax Tip 2023-58, April 27, 2023 ¡ª When a taxpayer can't pay their full tax liability or if paying would cause financial hardship, they may want to consider applying for an Offer in Compromise. This agreement between a taxpayer and the IRS settles a tax debt for less than the full amount owed.

IR-2021-229, November 17, 2021 ¡ª The Internal Revenue Service today unveiled a new how-to video series enabling taxpayers to avoid potential scams by considering and applying for an Offer in Compromise (OIC) themselves and avoid paying excessive fees to companies advertising outlandish claims.

An offer in compromise allows you to settle your tax debt for less than the full amount you owe.

We still haven¡¯t received your Online Payment Agreement (OPA).