Question: I have built up multiple years of tax debt and have been living in fear of liens and garnishments. Are the television ads true? Is there a way I can make a deal for a lesser amount so I can ...

If you find yourself with an unmanageable amount of tax debt, consider applying for an IRS offer in compromise, a program that allows you to settle your debt for less than the amount you owe. These ...

You have likely heard stories about people settling their tax debts for far less than they owe. Is the Ineternal Revenue Service really in the business of wheeling and dealing with taxpayers? The ...

If you owe the IRS more in taxes than you can comfortably pay, then you may be able to negotiate an offer in compromise. An offer in compromise is pretty much what it sounds like: a compromise on your ...

The IRS has an offer in compromise (OIC) program for certain people with tax debt to reduce the amount they owe. In some cases, it reduces the amount by more than half. The chances of qualifying ...

IRS issued Tax Tip 2024-37, April 24, 2024, to inform taxpayers that can’t pay their full tax debt or if paying would cause financial hardship, that they should consider applying for an offer in ...

During my tenure as a revenue officer at the U.S. Department of the Treasury, I was a point of contact for offers in compromise. I had the opportunity to see lots of great and not so great offers.

Taxpayers unable to pay their income tax liability may make an offer in compromise under IRC section 7122 to settle the tax bill. Such an offer can, however, have a negative impact on other rights ...

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. But while the IRS has a reputation for being relentless when it comes to ...