Form Mo-656 - Missouri Department Of Revenue (Page 4 of 6) in pdf

INSTRUCTIONS TO

(b) Exceptional Circumstances -

the reason for your offer, you must

Regardless of your financial circum-

include an explanation of why you

COMPLETE MO-656

stances, exceptional circumstanc-

are unable to pay your balance in

Before completing MO-656, please

es exist such that collection of

full.

make sure you are eligible for the

the full liability will be detrimental

Offer in Compromise based on one

SECTION 3: EMPLOYMENT

to voluntary compliance by the tax-

of the reasons listed below.

INFORMATION

payer.

Such exceptional circum-

stances include, but are not limited

If you require additional pages for

Enter name of employer(s), phone

to:

any information you are providing,

number(s), address, year/months

attach them as needed.

employed, occupation(s), number

(i) Instances where the failure

of allowances claimed on W-4, and

to pay the taxes assessed is

SECTION 1: PERSONAL

how often you are paid.

the result of circumstances

INFORMATION

If you or your spouse are self-

beyond

your

reasonable

employed or own your own business

Print or type your name(s), social

control and is not the result of

also complete sections 6-8.

security number(s), date of birth,

negligence on your part or

dependent information, and address

(ii) Instances in which a reason-

SECTION 4: PERSONAL

in the spaces provided.

able person would not expect

FINANCIAL INFORMATION

A reason this offer is being

the assessment based on

submitted must be indicated by

Bank Accounts:

policy

the

Include IRA’S, other retirement

checking a box.

Department of Revenue or

plans,

certificates

depos-

information provided to you

Doubt as to Liability

it, etc. Attach all pages of the

by the Department of Revenue.

A legitimate doubt exists that the

most

recent

three

months

assessed liability is correct. Possible

If exceptional circumstances is

bank statements for all accounts

reasons to submit a doubt as to

chosen, only Sections 1 and 2 are

of each person in the household.

liability offer include:

required.

If you owe more than $50,000, at-

1. You dispute the existence or

tach the most recent six months of

SECTION 2: PAYOFF

amount of the correct tax liability.

bank statements.

INFORMATION

2. Your evidence was not consid-

Enter the name of the instit-

ered.

ution(s), address, type of account(s),

Tax Type

3. You have new evidence.

(checking, saving, IRA, etc.), date

Indicate each tax type with a balance

the account was opened, account

If doubt as to liability is chosen, only

due by checking the box. Enter

number(s), and the balance of the

Sections 1 and 2 are required.

social security number or business

account.

tax identification number and periods

Doubt as to Collectibility

Personal Property:

for each tax type marked. All

Doubt exists that you could ever

Include boats, automobiles, ATV’s,

Missouri

tax

debt

must

pay the full amount of tax liability

motorcycles, recreational vehicles,

included in the settlement offer.

owed. If the offer in compromise

airplanes, machinery, etc, not used

is made for this reason, you must

The Offer

in your business. Attach additional

complete Sections 1 through 5 for

Enter the amount you can offer.

pages as needed.

an individual or if self-employed or

Offer must be more than zero if the

Enter year, make, model/style,

you own a business complete Sec-

offer is based on doubt as to collect-

license number, lender/lien holder,

tions 1, 2 and 4 through 8.

ibility. Check cash offer if the amount

current market value, current payoff,

is to be paid within 30 days after

Effective Tax Administration

and available equity. Enter zero if

written notice of acceptance of the

equity is less than zero. Attach cop-

(a) Severe Economic Hardship -

offer. Check short-term deferred

ies of loan statements including the

Collection of the full liability will

payment offer if the amount will be

current payoff.

result in severe economic hard-

paid in more than 30 days.

ship to the taxpayer. If the Offer

Real Property:

Indicate if you are borrowing the

in Compromise is made for this

For each property enter descrip-

settlement offer. If so, provide the

reason,

you

must

complete

tion, county, parcel number, mort-

lender’s information in the spaces

gage lender’s name and address,

Sections 1 through 5 for an individ-

provided.

ual or if self-employed or you own

current market value, loan balance,

If you choose doubt as to collectibil-

a business complete Sections 1, 2

and available equity. Include name

ity or severe economic hardship for

of owner as it appears on the deed,

and 4 through 8.

Form Mo-656 - Missouri Department Of Revenue Page 4

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