IRS Tax Debt Programs

Tax Debt Relief
Tax debt relief comes in many different forms, each of which varies depending on how much you owe, to whom you owe it, your current financial situation, and any applicable penalties. Therefore, describing tax debt relief in one simple paragraph is all but impossible. Please take advantage of the helpful guides that follow to find your debt solution:

Offer in Compromise
An offer in compromise can be the best solution for ridding yourself of tax debt to the IRS. In this offer, your debt is cut substantially on the assumption that you will be able to pay off the smaller amount, and the guarantee that you will pay your taxes for the next five years. This is a formal contract between you and the IRS. Therefore, it needs to be negotiated carefully by a tax specialist.

Tax Penalty Abatement
Tax penalties normally are added onto taxes you owe to the IRS, as this is an automated process performed by a computer. Sometimes, these penalties can be inaccurate or completely unwarranted. Working with a tax specialist can help you fight and dismiss such penalties, as trying to do it yourself can be very difficult.

Wage Garnishment Release
When taxes owed to the IRS go uncollected for a long enough period of time, liens or wage garnishments can soon follow. Such actions can stretch your budget to the point where you can no longer support yourself or your family. Tax specialists can help you negotiate a wage levy release, and can potentially freeze all future collection activities by the IRS.

IRS Payment Plans
Regardless of tax type (payroll, employment, income, etc.), IRS payment plans can be a great solution to dealing with the burden of a large tax debt. IRS payment plans are interest-free and can be negotiated by a tax specialist/professional. This can be an excellent alternative for someone who does not, or cannot, organize an offer in compromise.