The IRS has an offer in compromise (OIC) program for certain people with tax debt to reduce the amount they owe. In some cases, it reduces the amount by more than half. The chances of qualifying ...

Question: I have built up multiple years of tax debt and have been living in fear of liens and garnishments. Are the television ads true? Is there a way I can make a deal for a lesser amount so I can ...

IRS issued Tax Tip 2024-37, April 24, 2024, to inform taxpayers that can’t pay their full tax debt or if paying would cause financial hardship, that they should consider applying for an offer in ...

Tax season might be behind us, but for millions of Americans, the stress of unpaid tax bills still lingers. But whether it's due to an issue with unexpected income, a missed payment to the Internal ...

Getting the right tax advice and tips is vital in the complex tax world we live in. The Kiplinger Tax Letter helps you stay right on the money with the latest news and forecasts, with insight from our ...

An offer in compromise (OIC) is an agreement between the taxpayer and the IRS that settles a tax debt for less than the full amount owed. The program allows you, if you cannot feasibly pay the sum of ...

The Internal Revenue Service cautioned taxpayers to steer clear of promoters who claim their services are needed to handle unpaid debts, saying such businesses often charge excessive fees and often ...

Facing overwhelming tax debt can be daunting, especially with mounting interest and penalties. However, the IRS offers several relief options, including the Offer in Compromise (OIC), which allows ...

The Internal Revenue Service posted a series of videos to explain how taxpayers can steer clear of scammers who claim to be able to help them with their tax debts while charging exorbitant fees and ...

Owing taxes can be stressful. Unfortunately, the actions of some companies can make it worse. As part of its "Dirty Dozen" campaign, the IRS has renewed a warning about so-called Offer in Compromise ...

The 2025 IRS “Dirty Dozen” scam report warns taxpayers that scammers continue to target people who are trying to settle their debts with the agency. During tax season, scammers have consistently been ...

Question: I went through a long and expensive divorce a few years ago which decimated me financially. After the divorce, I racked up a large IRS tax bill, basically using tax dollars I owed to finance ...