Utah state offer in compromise instructions form 2025

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  1. Click ‘Get Form’ to open the Utah State Offer in Compromise Request form in our editor.
  2. Begin with Section A, Taxpayer Information. Fill in your name, Social Security Number, and contact details. If applicable, include information for your spouse and any personal representative.
  3. In Section B, Offer, specify the amount you are offering to pay and describe the source of funds. Clearly articulate your reasons for the offer request; attach additional pages if necessary.
  4. Proceed to Section C for Signatures. Ensure that all required signatures are provided along with daytime phone numbers and dates. This confirms your agreement to comply with the terms outlined.
  5. Review all sections for completeness before submitting. Use our platform’s features to save or print your completed form as needed.

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How long does it take to do an offer in compromise with the IRS? The IRS typically takes between 6 to 12 months to process an Offer in Compromise, though complex cases can take longer.
More In Forms and Instructions Use Form 656 when applying for an offer in compromise (OIC), which is an agreement between you and the IRS that settles your tax liabilities for less than the full amount that you owe.
First, the IRS can accept a compromise if there is doubt as to liability. A compromise meets this criterion only when theres a genuine dispute as to the existence or amount of the correct tax debt under the law. Second, the IRS can accept a compromise if there is doubt that the amount owed is fully collectible.
An offer in compromise is an offer to pay a tax liability for less than full value and may be an alternative for resolving your tax debt. The Tax Commission may consider an Offer in Compromise if: There is a doubt you owe the liability; or. The liability cannot be collected in full and your offer is reasonable.
The resulting amount is your monthly disposable income. Take that number and multiply by 12 (which is equal to one year worth of disposable income). This is the bare minimum you can offer to the IRS. They will almost never accept less than this amount.
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How do you apply? You must complete an OIC Application (form CDTFA-490 for individuals or form CDTFA-490-C for all other entities) and submit it with the supporting documentation listed on the second page of the application to the California Department of Tax and Fee Administration collector assigned to your account.
The Offer in Compromise (OIC) process also has some negative aspects. The key negative features of the program are: The taxpayer must make a full financial disclosure to the government (this mainly pertains to OIC based on doubt to collectibility);
You can use your Individual Online Account to check if youre eligible to file an offer in compromise (OIC), make payments, and file your OIC online.

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