656 - Offer in Compromise

What is the form used for? :

• Use Form 656 when applying for an Offer in Compromise (OIC), an agreement between the taxpayer and the IRS that settles tax liabilities for less than the full amount owed.

Is the form Supported in our program? Yes

How to access the form:

• To access the form, you need to open a return on the desktop, go to Add Form/Display and type 656.
• In Online, select the "+" icon on the left, when in a return, and search for 656.

Limits to the form: The business variant of this form can only be accessed from the desktop software. This form cannot be copied.

Solution Articles:

Entering information on Form 656 in Miscellaneous package

IRS Publication: https://www.irs.gov/forms-pubs/about-form-656