Tax debt an overwhelming burden if you have limited or no ability to pay it. Fortunately, there are legal methods to resolve tax debt without paying the full or any amount of tax debt. Even though there are strict restrictions, those who really cannot afford to pay their tax debt can easily resolve their case using these plans.
The IRS’ Offer in Compromise plan, Partial Payment Installment Agreement, and Currently Not Collectible are some IRS plans through which low-income taxpayers can get a reduction in tax debt or postponement of payment of the debt without worrying about collection actions. This help in back taxes resolution is only available to those whose income is sufficient only to fulfil basic living needs.
A tax debt should not be permitted to stay unresolved because the total debt amount increases each month due to the interest and penalties charged on it. Many taxpayers that resolve tax debt after years find that their debt amount has increased substantially from what they originally owed.
Before contacting the IRS for tax debt resolution, it is important to seek counsel of tax lawyers or seek free consultation services of a tax resolution service to understand the case and explore the best option to resolve it. Explore all choices and prepare the case well before contacting the IRS for its resolution.