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2. Owe the IRS Taxes? Here are 5 Steps to Resolving that Debt ...

   www.aol.com/owe-irs-taxes-5-steps-155700648.html

   Settling your debt with the IRS is often more achievable than you think. If you're facing IRS tax debt, you're not alone. In 2023, the IRS collected over $104.1 billion in unpaid assessments, but ...

3. Tax debt relief: How to resolve your debt with the IRS

   www.aol.com/finance/tax-debt-relief-resolve-debt...

   You can apply for CNC status by contacting the IRS directly at the number on your tax notice or bill. The IRS may also require you to submit a Collection Information Statement (Form 433-A, Form ...

4. Ways To Pay Off $10,000 in IRS Debt in Less Than 5 Years - AOL

   www.aol.com/ways-pay-off-10-000-110031025.html

   “While it’s possible to pay IRS tax debt with a credit card, think twice about that,” Micheletti said, noting that current credit card interest rates average more than 20%.

5. Offer in compromise - Wikipedia

   en.wikipedia.org/wiki/Offer_in_compromise

   The Offer in Compromise (OIC) program, in the United States, is an Internal Revenue Service (IRS) program under 26 U.S.C. § 7122, which allows qualified individuals with an unpaid tax debt to negotiate a settled amount that is less than the total owed to clear the debt. A taxpayer uses the checklist in the Form 656, OIC package to determine if ...

6. Cancellation-of-debt income - Wikipedia

   en.wikipedia.org/wiki/Cancellation-of-debt_income

   If a taxpayer's tax attributes were not reduced, taxpayers could intentionally create large tax attributes by creating debt, cancelling the debt, and unjustly reducing their future taxes without paying on the debt. For example, a taxpayer could intentionally run up large amounts of business debt and losses, creating a large NOL.

7. Original issue discount - Wikipedia

   en.wikipedia.org/wiki/Original_issue_discount

   In the United States, whether interest is adequate is determined with reference to the applicable federal rate (AFR). Under the Internal Revenue Code, original issue discounts on debt instruments are taxed each year, even though the debt may not be repaid until a later date. The tax system will impute an interest rate on the loan.

8. 5 Ways To Pay Off $20,000 in IRS Debt in Less Than 5 Years - AOL

   www.aol.com/5-ways-pay-off-20-130008457.html

   Choice Tax Relief’s Allec argued that currently, IRS debt costs you 8% interest — compounded daily — plus a failure-to-pay penalty ranging from 0.25% to 1% of your unpaid balance per month.

9. The 7 Worst Things You Can Do If You Owe the IRS - AOL

   www.aol.com/7-worst-things-owe-irs-000014898.html

   Using a Credit Card To Pay Your Taxes. Charging IRS debt to your credit card might be easy in the short term, but doing so can be a costly choice. ... such as Tax Relief Advocates, offer a free ...