offer in compromise

IRS Installment Payment Plans

If you can pay your debt over time, an installment plan may be the right solution. The most widely used method for paying an old IRS debt is the monthly installment agreement, or IA. If you owe $25,000 or less, you should be able to get an installment payment plan for 60 months just by […]

IRS Tax Bill Collections: What You Can Do

The IRS has far greater powers than any other bill collector: The IRS has the power to take your wages, bank accounts, and other property without first granting you a hearing. Nevertheless, you aren’t entirely at the IRS’s mercy. Here are some tips that may help you if an IRS collector is at your heels. […]

Settling a Tax Bill with an Offer in Compromise

For those who qualify for an offer in compromise (“OIC”), an outstanding tax bill can sometimes be settled for significantly less than what is owed.  While there is no right to such a settlement, in most cases the IRS must at least consider a properly submitted OIC.  The IRS accepts less than half of the […]