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Offer In Compromise Checklist

  • Copy of IRS notices, if available
  • Last year’s Form 1040, U.S. Individual Income Tax Return, with all attachments
  • Last three months’ bank statements (including spouse, if applicable)
  • Copy of most recent pay stub (including spouse, if applicable)
  • Copy of year-to-date profit and loss statement, if self-employed
  • Bankruptcy filing documents, including date filed, date dismissed or discharged, petition number and location, and any anticipated increase or decrease of income
  • Lawsuit documents, including filing location, representative and docket/case number, amount of suit, possible completion date and subject of suit
  • Past three months of loan statements showing total liability for all accounts (including spouse’s loan statements, if applicable)
  • Court-ordered payments, such as child support payments, including applicable court-ordered documents showing the amounts ordered to pay and proof of payments
  • Past three months of credit card statements showing total liability for all accounts (including spouse’s credit card statements, if applicable)
  • Eviction, foreclosure and/or utility disconnection notice or other substantiation showing financial hardship
  • Three most recent investment account brokerage statements for all accounts. Types of accounts include 401(k), pension, IRA, etc. Each account statement must show the current fair market value.
  • Property tax records for all property you (or your spouse, if applicable) own. Property owned may include a home, vacation home, car or boat. The records must show the assessed value of the property.
  • All life insurance policy information, showing policy number, policy owner, current cash value and outstanding loan balance, if applicable
  • Documents showing any other asset or liability, including any notes receivable or payable
  • If you are a small business owner and/or partner or shareholder in a partnership or S corporation, include all Schedules K-1 from Form 1120S and Form 1065