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Feeling overwhelmed by tax debt, late payment penalties and interest owed to the IRS? Did you know that that IRS can actually help you? The IRS has a program called "Offer in Compromise" (OIC) that provides taxpayers who owe the IRS more than they could ever afford to pay, the opportunity to pay a small amount as a full and final settlement.
Comments
805Chica said
on 7/22/2008 I think the IRS should do a better job promoting the IOC service. Good thing I have eHow friends to tell me about it and introduce me to Tax Resolution Services!
sharpcheddar said
on 6/16/2008 It's true! The reason it's possible is because the government actually saves money by accepting a lower amount from you now, versus all the additional administrative costs of going after you for the full amount that you will never be able to pay them anyway.
Read more about it here: http://www.taxresolution.com/blog/?cat=1