First obtain a Form 656 (PDF), Offer in Compromise Package (Revised 5/2001. The package includes information and instructions for completing the form, as well as a worksheet that can be used to calculate an amount to offer. Form 433-A (PDF) , Collection Information Statement for Wage Earners and Self-Employed Individuals, and Form 433-B (PDF) , Collection Information Statement for Businesses (Revised 5/2001), are included in the Form 656 package and may need to be completed as well depending upon individual situation. Taxpayers will need to review and include amounts for items such as housing and utilities from the Collection Financial Standards, and Necessary Expenses, to complete their collection information statements (s).

NOTE: For corporations and partnerships, Form 433-A may be requested from corporate officers and individual partners.

References:

• For a listing of Frequently Asked Questions on Offer and Compromise see Offer and Compromise