Form 656-B, Offer in Compromise Booklet - Internal Revenue Service

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Section 2Business Asset InformationPage 2 of 6Gather the most current statement from banks, lenders on loans, mortgages (including second mortgages), monthly payments, loan balances, andaccountant's depreciation schedules, if applicable. Also, include make/model/year/mileage of vehicles and current value of business assets. Toestimate the current value, you may consult resources like Kelley Blue Book (www.kbb.com), NADA (www.nada.com), local real estate postings ofproperties similar to yours, and any other websites or publications that show what the business assets would be worth if you were to sell them. Assetvalue is subject to adjustment by IRS. Enter the total amount available for each of the following (if additional space is needed, please include attachments).Round to the nearest dollar. Do not enter a negative number. If any line item is a negative number, enter "0".Cash Checking Savings Money Market Online Account Stored Value CardBank NameAccount NumberChecking Savings Money Market Online Account Stored Value Card(1a) $Bank NameAccount Number(1b) $Checking Savings Money Market Online Account Stored Value CardBank NameAccount Number(1c) $Total value of bank accounts from attachment (1d) $Add lines (1a) through (1d) = (1) $Investment Account: Stocks Bonds OtherName of Financial InstitutionAccount NumberCurrent Market Value$ X .8 = $Investment Account: Stocks Bonds OtherLess Loan Balance– $ = (2a) $Name of Financial InstitutionAccount NumberCurrent Market Value$ X .8 = $Less Loan Balance– $ = (2b) $Total of investment accounts from attachment. [current market value X.8 less loan balance(s)] (2c) $Add lines (2a) through (2c) = (2) $Notes ReceivableDo you have notes receivable? Yes NoIf yes, attach current listing which includes name, age, and amount of note(s) receivable.Accounts ReceivableDo you have accounts receivable, including e-payment, factoringcompanies, and any bartering or online auction accounts?YesNoIf yes, you may be asked to provide a list of name, age, and amount of the account(s) receivable.Catalog Number 55897B www.irs.gov Form 433-B (OIC) (Rev. 1-2014)
Page 3 of 6Section 2 (Continued)Business Asset InformationIf the business owns more properties, vehicles, or equipment than shown in this form, please list on an attachment.Real Estate (Buildings, Lots, Commercial Property, etc.)Property Address (Street Address, City, State, ZIP Property DescriptionCode)Name of CreditorDate PurchasedDate of Final PaymentCounty and CountryCurrent Market Value$ X .8 = $Less Loan Balance (Mortgages, etc.)– $ Total Value of Real Estate = (3a) $Property Address (Street Address, City, State, ZIPCode)Property DescriptionDate PurchasedName of CreditorDate of Final PaymentCounty and CountryCurrent Market Value$ X .8 = $Less Loan Balance (Mortgages, etc.)– $ Total Value of Real Estate = (3b) $Total value of property(s) listed from attachment [current market value X .8 less any loan balance(s)] (3c) $Add lines (3a) through (3c) = (3) $Business Vehicles (cars, boats, motorcycles, trailers, etc.). If additional space is needed, list on an attachment.Vehicle Make & Model Year Date Purchased Mileage or Use HoursLease Monthly Lease/Loan AmountLoan $Current Market Value$ X .8 = $Name of Creditor– $Less Loan BalanceDate of Final PaymentTotal value of vehicle (if the vehicleis leased, enter 0 as the total value) = (4a) $Vehicle Make & Model Year Date Purchased Mileage or Use HoursLeaseMonthly Lease/Loan AmountName of CreditorDate of Final PaymentLoan$Current Market Value$ X .8 = $Less Loan Balance– $Total value of vehicle (if the vehicleis leased, enter 0 as the total value) = (4b) $Vehicle Make & Model Year Date Purchased Mileage or Use HoursLeaseMonthly Lease/Loan AmountName of CreditorDate of Final PaymentLoan$Current Market Value$ X .8 = $Less Loan Balance– $Total value of vehicle (if the vehicleis leased, enter 0 as the total value) = (4c) $Total value of vehicles listed from attachment [current market value X .8 less any loan balance(s)] (4d) $Add lines (4a) through (4d) = (4) $Catalog Number 55897B www.irs.gov Form 433-B (OIC) (Rev. 1-2014)
Page 1: Form 656 BookletOffer inCompromiseC
Page 4 and 5: You cannot submit an offer if the I
Page 6 and 7: COMPLETING THE APPLICATION PACKAGES
Page 9 and 10: Form 433-A (OIC)(Rev. January 2014)
Page 11 and 12: Page 3 of 8Section 3 (Continued)Per
Page 13 and 14: Page 5 of 8Section 5 (Continued)Des
Page 15 and 16: Page 7 of 8Section 7Monthly Househo
Page 17: Form 433-B (OIC)(Rev. January 2014)
Page 21: Section 5Calculate Your Minimum Off
Page 24 and 25: Section 3Reason for OfferPage 2 of
Page 26 and 27: Page 4 of 6Section 7Source of Funds
Page 28 and 29: Section 10Paid Preparer Use OnlyPag
Page 32: Form 656-B (Rev. 1-2014) Catalog Nu

Form 656-B, Offer in Compromise Booklet - Internal Revenue Service

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