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In some cases, the IRS may be able to offer temporary relief, especially if paying your tax debts immediately will cause significant hardship. Pursue an offer in compromise.
Tax debt forgiveness. Unpaid taxes can result in significant financial strain, but the Internal Revenue Service (IRS) provides several options for taxpayers facing financial hardship. One common ...
The good news is the IRS offers a variety of tax debt relief options to help you out. If you don’t believe you’re a good candidate for tax debt relief, there are alternatives at your disposal.
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.
The National Taxpayer Advocate may, upon application from a taxpayer, issue a Taxpayer Assistance Order (TAO) if the Advocate determines that the taxpayer is suffering (or is about to suffer) a "significant hardship" resulting from the way the U.S. Federal tax law is being administered, or if the taxpayer meets other prescribed requirements.
Under federal tax regulations, "[t]he IRS will not levy against the property or rights to property of a taxpayer who submits an offer to compromise, to collect the liability that is the subject of the offer, during the period the offer is pending, for 30 days immediately following the rejection of the offer, and for any period when a timely ...
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