Irs Debt Help: 5 Options To Getting Rid Of Tax Debt
IRS Debt Help:
Do you owe the IRS? Are you struggling with IRS debts and cannot figure out what to do? Dont despair, you are not alone. Many Americans owe back taxes, or cannot afford to pay their IRS debts. If you want to get IRS debt help, its important to understand the different IRS tax debt strategies.
There are five strategies for getting out of IRS tax debt.
1.Offer in Compromise: a program where you can settle your tax debts for less than what you owe. Requires making a lump sum or short term payment plan to pay off the IRS at a reduced dollar amount.
2.Installment agreement: a monthly payment plan for paying off the IRS.
3.Partial payment installment agreement: a somewhat new debt management program where you have a long term payment plan to pay off the IRS at a reduced dollar amount.
4.Not currently collectible: a program where the IRS voluntarily agrees not to collect on the tax debt for a year or so.
5.Filing bankruptcy: discharge your tax debts under the strict rules of a Chapter 7 or 13 bankruptcy petition.
Offer in Compromise
Many people who...
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