×
tax forms found in
Tax Form Code
Tax Form Name

Hawaii Free Printable Form CM-1, Rev 2022, Offer in Compromise for 2024 Hawaii Offer in Compromise

There are only 28 days left until tax day on April 16th! eFile your return online here , or request a six-month extension here .

It appears you don't have a PDF plugin for this browser. Please use the link below to download 2023-hawaii-form-cm-1.pdf, and you can print it directly from your computer.

Offer in Compromise
Form CM-1, Rev 2022, Offer in Compromise

Clear Form FORM CM-1 (REV. 2022) STATE OF HAWAII — DEPARTMENT OF TAXATION OFFER IN COMPROMISE CM1_I 2022A 01 VID01 Attach your check or money order payable to the "Hawaii State Tax Collector" here. Section 1 Your Contact Information Your first name, middle initial, last name Your social security number If this is a joint offer, spouse’s first name, middle initial, last name Your spouse’s social security number Your mailing address (number and street) City or town, state, and postal/ZIP code Your telephone number Business name Federal employer identification number Your business mailing address (number and street) City or town, state, and postal/ZIP code Business telephone number Name of your representative (attach Form N-848) Your representative's telephone number Section 2 Proposed Tax Amounts To: Director of Taxation In the following agreement, the pronoun “we” may be assumed in place of “I” when there are joint liabilities and both parties have signed this agreement. I submit this offer to compromise the tax liabilities including interest, penalties, additions to tax, and additional amounts required by law for the tax type(s) and period(s) listed below: Type of Tax Period Amount of Tax Amount of Penalty Amount of Interest Total Amount If you need more space, attach another sheet of paper titled “Attachment to Form CM-1 dated_____.” Section 3 Reason for Offer (Select one reason)  Doubt as to Collectability - I have insufficient assets and income to pay the full amount.  Doubt as to Liability - I have a legitimate reason that I do not owe part or all of the tax debt. I am submitting a written narrative with this offer to explain my circumstances.  Exceptional Circumstances (Effective Tax Administration) - I owe this amount and have sufficient assets to pay the full amount, but due to my exceptional circumstances, requiring full payment would cause an economic hardship or would be unfair and inequitable. I am submitting a written narrative with this offer to explain my circumstances. ID NO 01 FORM CM-1 FORM CM-1 (REV. 2022) PAGE 2 Section 3 (Continued) Reason for Offer Explanation of Circumstances (Attach additional pages, if needed) The Department of Taxation understands that there are unplanned events or special circumstances, such as serious illness, where paying the full amount or the minimum offer amount might impair your ability to provide for yourself and your family. If this is the case and you can provide documentation to prove your situation, then your offer may be accepted despite your financial profile. Describe your situation below and attach your supporting documentation to this form. Section 4 Low-Income Certification (Individuals Only) Do you qualify for low-income certification? You qualify if your gross monthly household income is less than or equal to the low-income certification guidelines published by the Internal Revenue Service (IRS) at the time your offer is submitted to the Department of Taxation.  Check here if you qualify for low-income certification based on the monthly income guidelines printed on federal Form 656. Then enter your information in the spaces below. Size of your family unit State you live in Section 5 Your monthly income IRS monthly income guideline Offer Amount and Payment Terms Select option A (lump-sum offer in compromise) or option B (periodic payment offer in compromise) and complete the section for your offer type. Your offer must be accompanied with a minimum initial payment as indicated below. If you do not submit the minimum initial payment with your offer, then your offer will be rejected. The minimum initial payment will be waived for individuals who apply for and meet the low-income certification requirements in section 4.  Option A. Lump-Sum Offer in Compromise - I am offering to pay in five or fewer monthly installments. Your offer must include a minimum initial payment of at least 20% of your total offer amount unless you meet the low-income certification requirements. Installment #1 must be made no later than 30 days after the date of acceptance. Total Offer Amount $ – = Remaining Balance Installment #1 Installment #2 Installment #3 Installment #4 Installment #5 Installment Amount Installment Amount Installment Amount Installment Amount Installment Amount  $ $ $ $ Option B. Periodic Payment Offer in Compromise - I am offering to pay in six or more monthly installments. Your offer must include a minimum initial payment of one monthly installment unless you meet the low-income certification requirements. Your offer must be fully paid within 24 months from the date your offer is accepted. Total Offer Amount $ Initial Payment Submitted with Offer Monthly Installment Amount – x Initial Payment Submitted with Offer Number of Payments = = Remaining Balance Total I agree to pay monthly installments by the _____ day of each month beginning on ___________ (mm/dd/yy) until the total amount of the offer is paid in full. FORM CM-1 FORM CM-1 (REV. 2022) PAGE 3 Section 6 Offer Terms By submitting this offer, I/we have read, understand and agree to the following terms and conditions: 1. I request that the Department of Taxation (Department) accept the offer amount listed in this offer application as payment of my outstanding tax debt (including interest, penalties, and additions to tax) as of the date listed on this form. I authorize the Department to amend Section 2 on page 1 in the event that I failed to list or incorrectly listed any of my assessed tax debt. 2. I voluntarily submit the payments made on this offer and understand that they are not refundable even if I withdraw the offer or the Department rejects or returns the offer. The Department will keep all payments and other credits it has collected prior to this offer and any payments that I make relating to this offer. 3. I understand that the Department will keep all payments, credits, refunds, including interest, that I might be due for tax periods extending through the calendar year in which the Department accepts my offer. I cannot designate that these amounts be applied to estimated tax payments for the following year or the accepted offer amount. If I receive a refund after I submit this offer for any tax period extending through the calendar year in which the Department accepts my offer, I will return the refund immediately to the Director of Taxation (Director). 4. The payments and all other amounts kept by the Department shall be applied to my tax debt in the best interest of the State and in a manner consistent with section 231-27, Hawaii Revised Statutes. 5. If I fail to meet any of the terms of this offer, the Department may take collection actions against me without further notice. These actions may include, but are not limited to levying my property, filing a civil suit against me, garnishing my wages, and referral to a private collection agency. The Department will attempt to collect any amount ranging from the unpaid balance of the offer to the original amount of the tax debt, interest on the unpaid balance at the rate of 8 percent per year, and cost recovery fees. If I fail to meet any terms of this offer, I waive the right to contest, in court or otherwise, the amount of the tax debt. 6. I understand that my offer does not relieve me of the tax liabilities (including interest, penalties, and additions to tax) listed in this offer unless and until it is actually accepted in writing by the Director or the Director's authorized representative, approved by the Governor (where applicable), and the terms of the offer have been satisfied. Once the Department accepts my offer in writing, I waive all rights to contest, in court or otherwise, the amount of the tax debt. Section 7 ADDITIONAL REQUIREMENTS Failure to provide required documents will result in summary rejection of the offer in compromise. Complete and submit the following: … Form CM-1 Offer in Compromise … Form CM-2 (Individual) or CM-2B (Corporation) Statement of Financial Condition (Federal forms are acceptable) … Copies of all bank statements, bank checks, check register for last three months If applicable, provide copies of the following: … Statements showing premium amounts for all insurance (auto, home, health, renters, etc.). Coverage page of homeowners and renters insurance policies and the first page of all insurance policies … Federal Income tax returns for the last 3 tax years … Any and all contracts and notes receivables … All judgments, including divorces … Real property: Name and address of encumbrance/lien holder and proof of remaining balance. Your interest in all deeds to real property. Realtor's valuation and current year's county assessor's valuation. If renting, provide rent or lease agreement … Vehicles: Registration certificate(s) issued by the Department of Licensing, verification encumbrances against all vehicles and current statements. Verification on the determined values, including cars, boats, trucks, motor homes, airplanes, etc. … Pre or ante nuptial agreement, affidavits from parties under penalty of perjury adherence to said agreements … Trust that you are the beneficiary or have an interest … Pay check statement last six months FORM CM-1 PAGE 4 FORM CM-1 (REV. 2022) … Court ordered payments (child/spousal support, fines, etc.) … Monthly expenses not already covered (utility bills, transportation, etc.) … Doctors papers if claiming ill health or disabled … Source of funds for offer … Federal Offer in Compromise and letter of acceptance Section 8 Signature of Taxpayer(s) If this is a joint offer, then both spouses must sign the form. If signed by a corporate officer, partner, limited liability company member, guardian, tax matters partner/person, executor, receiver, administrator, or trustee on behalf of the taxpayer, I certify that I have the authority to execute this form on behalf of the taxpayer. I declare that this offer (including any accompanying schedules or statements) has been examined by me and, to the best of my knowledge and belief, it is true, correct, and complete. † † Signature Title Date Print name Print taxpayer's name if the taxpayer is not an individual Signature Title Date Print name Section 9 Preparer's signature Print preparer's name Firm's name (or yours if self-employed), address and ZIP Code Paid Preparer Use Only Date Preparer's identification no. Check if self-employed  Federal employer identification number
Extracted from PDF file 2023-hawaii-form-cm-1.pdf, last modified March 2014

More about the Hawaii Form CM-1 Corporate Income Tax TY 2023

We last updated the Offer in Compromise in February 2024, so this is the latest version of Form CM-1, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form CM-1 directly from TaxFormFinder. You can print other Hawaii tax forms here.


eFile your Hawaii tax return now

eFiling is easier, faster, and safer than filling out paper tax forms. File your Hawaii and Federal tax returns online with TurboTax in minutes. FREE for simple returns, with discounts available for TaxFormFinder users!

File Now with TurboTax

Other Hawaii Corporate Income Tax Forms:

TaxFormFinder has an additional 164 Hawaii income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form N-301 Application for Automatic Extension of Time to File Hawaii Corporation Income Tax Return
Form EFT-1 (Obsolete) Authorization for Electronic Funds Transfer
Form N-318 (Obsolete) High Technology Business Investment Tax Credit
Form N-342 Renewable Energy Technologies Income Tax Credit
Form A-6 Tax Clearance Application

Download all HI tax forms View all 165 Hawaii Income Tax Forms


Form Sources:

Hawaii usually releases forms for the current tax year between January and April. We last updated Hawaii Form CM-1 from the Department of Taxation in February 2024.

Show Sources >

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Hawaii Form CM-1

We have a total of nine past-year versions of Form CM-1 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form CM-1

Form CM-1, Rev 2022, Offer in Compromise

2022 Form CM-1

Form CM-1, Rev 2022, Offer in Compromise

2021 Form CM-1

Form CM-1, Rev 2018, Offer in Compromise

2020 Form CM-1

Form CM-1, Rev 2018, Offer in Compromise

2019 Form CM-1

Form CM-1, Rev 2018, Offer in Compromise

2018 Form CM-1

Form CM-1, Rev 2018, Offer in Compromise

2017 Form CM-1

Form CM-1, Rev 2014, Offer in Compromise

2016 Form CM-1

Form CM-1, Rev 2014, Offer in Compromise

Forms 2014 2015 Form CM-1

Form CM-1, Rev 2014, Offer in Compromise


TaxFormFinder Disclaimer:

While we do our best to keep our list of Hawaii Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.

** This Document Provided By TaxFormFinder.org **
Source: http://www.taxformfinder.org/hawaii/form-cm-1