Tax Settlement An IRS Offer in Compromise or tax settlement allows you to settle whatever tax debts you might have for less than the full amount owed. This is a legitimate option if you cannot pay your full tax liability or if doing so would create a financial hardship. The IRS considers the following circumstances
irs offer in compromise
Tax Payment Plan Criteria: How to Get Approved
When a taxpayer falls behind in their tax payment obligations, figuring how to get back on track can be a difficult prospect. Between the limitations of a taxpayer’s capability to meet their past due taxes, and the purpose of the IRS to collect as much as possible of those same taxes, it can be a
Hardship
When a taxpayer fails to meet his or her tax obligations, and provided that taxpayer does nothing to remedy the situation, such as request an offer in compromise or an installment agreement, the Internal Revenue Service will eventually initiate collection proceedings. Those collection proceedings include the filing of a Notice of Federal Tax Lien with
Offer in Compromise
In an ideal world, a person will pay their taxes in full, on time, and without breaking the bank. Of course, we don’t live in an ideal world. In reality, many people fall short of this mark, and in such cases there are a range of options available to those that have trouble meeting their