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You would need to use form 433 Fhttps://www.irs.gov/pub/irs-pdf/f433f.pdfSpecifically in section G - under "Other Income" - include distributions from the S-corporation reported on Schedule K-1.Any questions?
Without going into details - I would expert the IRS to accept such offer.
With large upfront payment - you might want to consider an offer in computerize - so the IRS woudl accept your full payment in exchange for eliminating your remaining tax debt.But there is no guarantee.
What the IRS will be looking - that is the reasonable collection potential (the RCP).
That is the amount what the IRS reasonably and potentially could expect to collect from you from the attachment of your wages and and other income as well as from the seizure of your assets.
If you offer is above that amount - it will likely be accepted.
Calculations might be a little complicated - and they are explained in some detailed in following publication
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