Offer in Compromise Item 8
IRS Form 656 Section 8
It is important to prepare your Offer In Compromise application carefully. More than half of the applications are flawed and this could delay the process up to 6 months.
Contacting an attorney and getting the best legal advice possible is the best way to ensure sucess. An Offer In Compromise Attorney can help you navigate the complex Offer In Compromise process.
According to IRS Form 656 Offer In Compromise, by signing the form, you are agreeing to the seventeen conditions the Internal Revenue Service lists for Item 8.
- Item 8 - "By submitting this offer, I/we have read, understand and agree to the following conditions..."
Among the 17 clauses, one of the critical ones is item (p) which states:
- I/We understand that the IRS employees may contact third parties in order to respond to this request and I/we authorize the IRS to make such contacts. Further, by authorizing the Internal Revenue Service to contact third parties, I/we understand that I will not receive notice, pursuant to section 7602(c) of the Internal Revenue Code, of third parties contacted in connection with this request.
The Taxpayers' Bill of Rights has provisions prohibiting notification of third parties when a taxpayer is targeted by the IRS. Getting the best legal advice possible is your best defense.
If you have outstanding tax debt and are looking for Tax Relief, consult with an experienced tax attorney to see if you qualify for an Offer In Compromise.