If you find yourself with an unmanageable amount of tax debt, consider applying for an IRS offer in compromise, a program that allows you to settle your debt for less than the amount you owe. These ...

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 ...

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 ...

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 ...

For those who cannot pay the full amount they owe in taxes, the Internal Revenue Service allows qualifying taxpayers to settle their tax debt for less than the full amount. This is called an “offer in ...

Fact checked by Betsy Petrick Key Takeaways The IRS has 10 years to collect from you if you don't pay your taxes.Income, Social Security and retirement benefits, bank accounts, and tangible property ...