What Is Form 656 And How Do I File One?
Form 656 is a notice that's sent to a business or individual who owes back taxes. The notice includes the amount of taxes owed, as well as interest and penalties. If you receive a Form 656, you'll need to take action immediately to avoid further penalties.
You can pay the amount owed in full, or you can work out a payment plan with the IRS. You can also dispute the amount if you think it's incorrect. If you don't take any action, the IRS can take steps to collect the money, which could include garnishing your wages or seizing your property.
If you receive a Form 656, don't ignore it. Take action right away to avoid further penalties from the IRS.
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