Settle Tax Debt

If you wish to settle a tax debt, you may need to hire a tax attorney. It will depend upon your understanding of the tax issues and the actual circumstances of your IRS problem. Of course, the tax debt may not involve the IRS. It may be a tax issue with municipal, county or state government agencies. Whatever the situation, you need to be aware of all the issues. Taxes may be a complicated matter. To settle a tax debt may require litigation. The lawyer you hire to handle this affair must have experience in dealing with the IRS. In the very least, you need to be aware of all the possible options. To settle tax debt, you could ask for tax debt relief. Tax debt relief may require obtaining an Offer of Compromise. Tax relief can be also consist of an installment agreement. You will arrange with the tax agency to settle the tax debt in set installments. Anotehr approach to settle tax debt may mean you or your attorney persuading the IRS or similar tax agency to consider you under a "currently not collectible status." Whatever your options, be sure to have the best law advice you can obtain.

Fast Facts

  • IRS Offers of Compromise decreased between FY 2001 and FY 2008 by more than 72%.

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