Convenient Relief from Tax Debt

Last updated on February 7, 2022

Tax debt is a pain, but the good news is that it can be relieved. Paying back tax debt comfortably is possible if taxpayers have the right information and the right help.

Although smaller tax debt amounts can be paid in full affordably, large tax debts usually cannot, and taxpayers should look for tax debt relief, including reduction in penalties, an extension in time for payment, or a reduction of the debt.

Relief for tax debt cases can include either reduction in money, or extension of time for payment of tax debt. Depending on the financial ability of a taxpayer, a tax professional will look to achieve either of the two or both.

Tax debt can be paid comfortably because taxpayers have options to choose from. Taxpayers can get their tax debt reduced under an Offer in Compromise program, pay the tax debt in payments under an Installment Agreement, postpone the payment of tax debt under Currently Not Collectible, or reduce their tax debt and pay the remaining amount in installments under a Partial Payment Installment Agreement. Keep in mind, all IRS tax debt relief programs have qualifying factors.

Taxpayers can apply for the appropriate debt payment plan after exploring all the options that can achieve better results for their tax debt situation.