Select the applicable "Method of Repossession" and attach any required documentation, if applicable. This completed form must be submitted to a county tax.The Mortgage Forgiveness Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. The Form 656 identifies the tax years and type of tax you would like to compromise. Send repo form via email, link, or fax. You can also download it, export it or print it out. See Form W-8BEN for claiming that you are entitled to a reduced rate of withholding under an income tax treaty. Her experience can help you use the law to retain important property while charting a path to wipe out debts. To ensure the repossession and title transfer process is completed accurately and legally, it's crucial to fill out the VTR-264 form meticulously. She may demand that you fill out an IRS financial statement form.