Can’t meet April 15 deadline? Settlement program available
DENVER — Taxpayers who are unable to pay come April 15 may qualify for a special settlement program allowing them to pay their debt in installments.
By completing and submitting Form 656, Offer-in-Compromise, those with a tax liability that extends beyond their ability to pay may propose a payment settlement. If the offer is found to be in the best interests of both the government and the taxpayer, it may be recommended for acceptance. The provision does not extend to taxpayers with the ability to pay their debt by borrowing funds, selling assets or by paying through present earnings.
Qualified applicants can obtain additional information about the program through and offer-in-compromise specialist. Any taxpayer who proposes an installment agreement or whose account would be reported as not collectible can discuss offer provisions with the IRS. Call toll-free at 1-800-829-1040.
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DENVER — Taxpayers who are unable to pay come April 15 may qualify for a special settlement program allowing them to pay their debt in installments.
By completing and submitting Form 656, Offer-in-Compromise, those with a tax liability that extends beyond their ability to pay may propose a payment settlement. If the offer is found to be in the best interests of both the government and the taxpayer, it may be recommended for acceptance. The provision does not extend to taxpayers with the ability to pay their debt by borrowing funds, selling assets or by paying through present earnings.
Qualified applicants can…
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