Tag: Tax debt

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Oct 19

Taxpayers with an outstanding tax bill should consider an Offer in Compromise

An Offer in Compromise can be an effective way for individuals and businesses to settle federal tax debt. This federal program allows taxpayers to enter into an agreement, with the IRS, that settles a tax debt for less than the full amount owed. Sometimes taxpayers are able to settle for significantly less, especially if they have low…

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Jul 22

What To Do When You Owe The IRS

If you owe the IRS a substantial amount, be sure not to ignore it. Review options such as installment agreements, extensions, or personal loans, and always seek legal advice from a professional tax attorney. While you may want to put off dealing with tax debt and that sinking feeling that you owe the IRS, not…

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