IRS Tax Settlement - How to Choose the Best Method?

Author Bio

Article Length: 1 words

RSS Feed:

Author: Sean Benton

Sean Benton is an expert writer on tax bet settlement issues.

There are a few recognized IRS-approved methods for IRS tax debt settlement and you cannot do something beyond them. So, the key is to identify the most suitable method for you. Needless to say, each method has its merits and demerits and suits specific situations. You need to remember that the IRS is a tax realization agency and it wants to ensure that you pay your taxes — fully or partially. So, choose the IRS settlement method wisely.

Here is a snapshot of methods used to settle income tax relief issues.

Pay taxes in instalments

This offer allows you to pay your outstanding taxes in instalments. IRS gives four instalment-type options to choose from. If you are unable to choose the best method, you may hire a professional tax consultant. You should be in a position to stick to the instalment plan you subscribe to, else, IRS may ask you to pay the full amount at one go.

Pay outstanding tax partially

This method is suitable if you are in a position to pay at least some part of your outstanding tax in instalments. If you can do that successfully, the IRS may choose to waive the remaining part of the outstanding tax debt. You should carefully read the IRS settlement guidelines, if you choose to take this option.

Accept a compromise deal from IRS

The IRS, in consultation with the IRS attorney, may offer a compromise offer to you. You may be required to pay a lump sum amount of the outstanding tax debt to IRS under the agreement. Depending on the offer from IRS, you may also be required to agree to any other payment option, as decided by the IRS. You must, however, carefully review the tax amount offered by IRS for you.

Any agreement on payment of tax debt may require negotiations on your part which may not be easy, especially if you are not a professional in tax matters. Therefore, it may be a wise thing to appoint a tax consultant to negotiate tax matters with the IRS.

Sean Benton is a well-known writer who writes for different financial websites. His articles are almost hands on theory on the different topics related with IRS settlement and IRS tax settlement. He writes many articles on IRS attorney for

Category RSS Feed:

Recent Visitors Were From:

Colorado Hawaii Watertown Herrin Jersey City Leesburg Kansas East Chicago East Liverpool Cloquet Fond du Lac Mountain Brook Granite City Miamisburg Los Gatos Chicago Mobile Centennial Florham Park Brigantine Pueblo Georgia Lawrence Slidell Vineland West Des Moines Norridge Balch Springs Boulder Lewisburg Greenbelt Revere Westwood Mountain View Sandy Norman Lake Stevens Hercules Ohio Ashwaubenon Pennsylvania Conroe Athens Wisconsin Gardner Mankato Camden Kalispell Alabama Bend New Orleans Hayward Woodburn Plainfield Miami Gardens Dunkirk South Sioux City Hammonton Port Lavaca Pine Bluff Arkansas Oklahoma City Reading Soddy-Daisy Inver Grove Heights Burr Ridge Morro Bay Shelby Gainesville Town and Country New York Rye Doral

Most Recent Articles From the Finance » Taxes Category:

Most Viewed Articles in the Finance » Taxes Category:


appoint a tax consultant , IRS tax settlement , IRS attorney , IRS settlement