Question:
How do I apply for a Colorado offer in compromise if I
owe Colorado income tax?
Under certain circumstances the Department may accept a taxpayer's offer
to settle their tax liability for less than the full amount due.
Taxpayers who meet the following qualifications may initiate the process
by submitting the documentation listed below. The taxpayer bears the
burden of establishing the grounds for a potential settlement and has no
legal entitlement to have any tax liability settled through an Offer in
Compromise. Any submitted offer must reflect the taxpayer's maximum
capacity to pay. The Department reserves the right to conduct an
independent examination of the taxpayer's financial condition in review
of the documentation submitted to determine the veracity of the
information contained therein. Any previously initiated collection
activity will continue while a submitted offer is being considered. The
State may rescind any acceptance of an offer if the taxpayer fails to
comply with the required terms and conditions, if additional information
becomes available or if the information provided by the taxpayer is
found to be false.
For a listing of Qualifications and Required Documentation visit our
Offer in Compromise of
Tax Liability
Webpage.
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