IRS DEBT SETTLEMENT-OVERVIEW

IRS DEBT SETTLEMENT OVERVIEW

Serious IRS debt requires that you consider whether attempting to “settle” it is worth your effort. When it is, the settlement can change your life.

YES, THE IRS “SETTLES” DEBT…BUT,

The IRS settles large amounts of IRS debt all the time, but most people don’t qualify, despite what you may have heard on the radio. The first requirement is to prove to the IRS, using their own calculation rules, that it isn’t going to get paid in full within the time it has to collect the debt. The second requirement is to be able to pay the amount of the settlement. Most people find it difficult to do both. That’s why in the 2024 fiscal year only about 7200 IRS offers in compromise were accepted out of about 34000 filed and out of millions of people with tax debt. If you counted those that were accepted AND able to pay the settlement amount, the number is even lower.

DESPITE THIS, SETTLEMENT MUST BE CONSIDERED

Despite the above, anytime a large IRS debt exists, settlement has to be considered. An experienced IRS offer in compromise attorney may be able to see a way to plan or argue your way into an offer that works OR help you use the Partial Pay Installment Agreement or Non-Collectible Status programs to effectively settle debt as well.

In a Partial Pay Installment Agreement and in Non-Collectible Status the IRS is agreeing to accept less than what would be needed to pay the debt in full within the collection statute period, even zero per month. Many people who aren’t good Offer Candidates use Partial Pay and Non-Collectible Status agreement to reduce the debt substantially as well.

HELPING ARIZONA CLIENTS “SETTLE” SERIOUS IRS DEBT FOR MORE THAN 20 YEARS.

WHAT’S YOUR NEXT STEP?

If you are struggling with an IRS debt, it will be worth it to discuss and review your situation with an experienced IRS debt resolution attorney. You may be a candidate to settle the debt, or there may be a way to settle it or deal with it in another way. Set a time to speak with me, I’ll ask some questions and then can look at your IRS history and your finances to help you sort out your best option.

Over the years I’ve been able to help many clients settle and reduce millions of dollars of IRS debt. I look forward to helping you.