Here are some IRS tax settlements tips you can use to deal with tax debt you can’t pay:
If your taxes are delayed because you've experienced hardships, then you may qualify for IRS Tax Settlements programs which allow you to settle your tax debts.
Have received IRS notices for late taxes, interest and penalties? Or even worse a Notice of Federal Tax Lien or a Notice of Levy?
You can settle your tax debt for less than what you owe using the IRS offer in Compromise program. This program may be considered only after other payment options have been exhausted.
Liens: A lien is a record on file that you owe outstanding taxes. This record is filed with your local government and is also reported in your credit history, hampering any future efforts to secure loans.
Levies: A levy is the seizing of property or wages. Wage garnishment is negotiated by the IRS and your employer.
REMINDER: The free legal information the Internet provides is mostly general and usually second rate. The first rate information and legal services you can only get when you do speak to a competent Tax attorney.
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