Will The IRS Accept Less Than They Demand?

Maybe, through an “Offer in Compromise.” An Offer in Compromise is an offer to pay less than the full amount the internal revenue service claims you owe. The IRS might accept the offer if you convince them that there is “doubt as to liability,” “doubt as to collectibility,” or “for effective tax administration.” While the Read more…

What If I Cant Pay My Tax Debt – Will IRS Accept Installments?

For larger debts (usually over $10,000), the IRS will want to look at your overall financial situation. You will need to fill out a financial declaration listing your assets, liabilities, and monthly income and expenses (Form 433-A). If you operate a business, you also must fill out the business financial declaration (Form 433-B). Depending on Read more…