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The Service also may return the offer after it has been accepted for processing if:
For these offers, taxpayers must complete Forms 656, Offer in Compromise; 433-A, Financial Information for Individuals; 433-B, Financial Information for Businesses; and supplemental information.
If the investigation indicates an ability to offer more than the original OIC amount, the person assigned to the case should discuss with the taxpayer or his representative what he considers to be an adequate offer amount.
The preptinted language on Form 656 requires the taxpayer to incorporate into his offer the following provisions.
When preparing an offer for a client, the practitioner should attach a statement to Form 656, Offer in Compromise, describing in detail why he believes the Service cannot collect more than the offer from his client's assets and present and future income.