IRS letters or tax debt? We help you understand your options.
IRS letters or tax debt? We help you understand your options.
If you qualify, the Offer in Compromise program allows you to settle your IRS tax debt for less than the total amount owed. This program is specifically designed to assist taxpayers who are unable to pay their full tax obligation and meet the IRS hardship criteria.
Eligibility: To be eligible for this IRS tax debt settlement, your debt must exceed your ability to pay within the statute of limitations, as assessed by IRS standards.
Process: You will need to submit the required forms and documentation for review.
Timeline: The entire process typically takes about five months, depending on the IRS workload.
Pros: There is potential for a significant reduction in your total debt through this tax hardship assistance.
Requirements: You must have filed tax returns for the previous six years, and if applicable, be current with your estimated tax payments.
Ready to see if you qualify?
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