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’ve found yourself in debt to Uncle Sam, there are many ways to pay what you owe, including working out an installment plan with the IRS. What you might not know is that you could also ...

For those who cannot pay the full amount they owe in taxes, the Internal Revenue Service allows qualifying taxpayers to settle their tax debt for less than the full amount. This is called an “offer in ...

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 ...

Filing back taxes is daunting, especially if you know you’re going to owe a lot of money. The good news is that several IRS programs exist to help you manage outstanding tax debts. If you can’t pay ...

In fiscal year 2024, individual taxpayers will owe an estimated $525 billion in tax debt. 1 Based on the most recent tax data from the IRS, more than 10 million taxpayers owe back taxes. 2 If you have ...

A 2024 study by Qualtrics found that 23% of tax filers expected to go into debt to pay their tax bill, and another 23% said they’d need to take on new debt to resolve it. In fact, IRS data shows ...

Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing ...

Tax season might be behind us, but for millions of Americans, the stress of unpaid tax bills still lingers. But whether it's due to an issue with unexpected income, a missed payment to the Internal ...