Offer in Compromise - Documentation Checklist

OFFER IN COMPROMISE 
Documentation Checklist 

Documents being included when submitting an Offer (Form 656) to the IRS. 

                            TOPIC                

1. Completed and signed Form 433-A and (433-B if applicable).
2. Explanation of Circumstances (see Form 656, Part VI). 
3. Most recent three (3) months bank statements for every checking and savings accounts.
4. Proof of mortgage and monthly payment or rent payment.  (Monthly mortgage statement, cancelled checks, rent receipt, etc.)
5. Proof of any extraordinary expenses, such as: medical expenses, doctor bills, court judgments, etc. 
6. Proof of any mandated child support orders.
7. Appraisal or current market analysis (CMA) for each parcel of real estate. 
8. Every car/truck/boat/RV/trailer/motorcycle/snowmobile/jet ski/ATV, etc. appraisal and copy of registration. (Use Blue Book value, NADA Guides and/or Dealer appraisal letter).
9. Explain source of funds to conclude Offer. (e.g. “Borrow from relatives.”)
10. Copy of most recent three (3) months household bills and proof of payment.  (Utilities, cable, telephone etc.)
11. Must be in current tax filing compliance.  [Necessary to prove taxpayer’s filing compliance for all tax periods due, personal and business (if applicable)]. 
12. Brief statement on taxpayer’s work history and education.
13. Proof of estimated tax payments (if applicable) current year only. 
14. Most recent three weeks pay-stubs.
15. Any other specific items. 

This information is  provided by Stephen B Jordan - EA of Salem, NH USA

Please copy and distribute freely
Offer in Compromise is an option under the law.
It's there for your protection...
If you qualify, why not take it?
Resolve your tax debt on a permanent basis.