Tax debt relief services can help those who owe significant debt to the IRS. Getty Images/iStockphoto Many Americans are gathering their tax documents with the April 15 federal tax filing deadline ...

For example, the IRS assessed more than $25.6 bil­lion in additional taxes on returns that were not filed timely and collected almost $2.8 billion with delinquent returns in 2023 — a clear ...

For example, if you have $200 in monthly disposable income and choose to pay your offer over 24 months, that's $4,800. If you have $10,000 in asset equity, your minimum offer would be $14,800 ...

Offer in compromise (OIC) "An offer in compromise is an agreement with the IRS to settle your tax debt for less than you owe," explains Logan Allec, ... Examples include natural disasters, ...

For example, if you have a small amount of debt with the IRS — let's say under $10,000 — and are confident in your ability to communicate with the agency, you may be able to set up a payment ...

Other options for getting rid of your IRS tax debt. If you don't qualify for tax forgiveness through an Offer in Compromise, don't panic. There may be other ways to resolve your IRS tax debt: ...

Watch out for fake promises to settle your IRS tax debts . Also, beware of “offer in compromise mills,” the IRS’s term for firms and promoters that hawk tax-debt-relief plans with promises ...

Offer in compromise. The IRS also offers the option for an offer in compromise. ... For example, an offer in compromise requires a $205 application fee. Pros. Tax relief; ...

Offer in compromise (OIC) "An offer in compromise is an agreement with the IRS to settle your tax debt for less than you owe," explains Logan Allec, a certified public accountant and owner of ...

An Offer in Compromise is essentially a settlement agreement between you and the IRS. Instead of paying your full tax debt, you negotiate with the IRS to pay a reduced amount — one that the IRS ...

The IRS tax forgiveness process isn't simple, but it exists to help taxpayers in genuine financial distress. If you owe more than you can afford to pay, exploring an Offer in Compromise or another ...