How to Settle Tax Debt for Less
If you wish to settle down tax debt for less than there is only one common way to do so: simply with an offer in compromise; which means the IRS will agree to let you reimburse less than the actual amount to you want to pay. Though you can settle your tax debt for less, it is essential to bear in mind that you might not meet the criteria for an offer in compromise. The IRS accepts just about 15% of those that they receive
There are various situations when you are able to settle for less. They are:
- Doubt as to liability- This is actually when you are not found at fault for the debt that has been considered.
- Doubt as to collectability- Here you just cannot pay the tax debt now, and there is absolutely no reason to think that this