IRS-issues solutions
Payment Plans
Offer in Compromise (OIC):
Offer in Compromise (OIC):
If you owe taxes but can't afford to pay the full amount, you can set up a monthly payment plan with the IRS. This arrangement, known as an installment agreement, allows you to pay off your tax debt over time.
Offer in Compromise (OIC):
Offer in Compromise (OIC):
Offer in Compromise (OIC):
This program allows you to settle your tax debt for less than the full amount you owe if you can prove that you are unable to pay the full tax liability. OIC is a complex process and often requires professional assistance.
Penalty Abatement:
Offer in Compromise (OIC):
Innocent Spouse Relief:
In certain circumstances, the IRS may be willing to remove penalties that have been added to your tax debt. This could significantly reduce the overall amount you owe.
Innocent Spouse Relief:
Innocent Spouse Relief:
Innocent Spouse Relief:
If you filed a joint tax return with your spouse and are now faced with their tax debts due to errors or fraudulent activities, you might qualify for innocent spouse relief, which could release you from responsibility for the debt.
Bankruptcy:
Innocent Spouse Relief:
Temporary Delay:
In extreme cases, filing for bankruptcy might provide a solution. However, not all tax debts are dischargeable in bankruptcy, so it's crucial to seek legal advice before pursuing this option.
Temporary Delay:
Innocent Spouse Relief:
Temporary Delay:
If you're facing financial hardship, the IRS may temporarily delay collection efforts through a process called Currently Not Collectible (CNC). During this period, the IRS agrees not to attempt to collect the debt.