I owe the IRS more than I can pay

Information about The Tax Resolution Company

If you owe the IRS more than you can pay right now, there are four options available to you depending upon your circumstances.

(1) If you are unemployed or your income is barely enough to cover your basic expenses, then your account may be eligible to be put in a currently not collectible status.

(2) If you are unable to pay your entire liability but you can afford to make monthly payments, then you may be eligible for a payment plan, commonly referred to as an installment agreement.

(3) If your assets plus the amount you can pay over the next five years are less than the tax you owe, you may be able to settle for less than is owed. This is commonly referred to as an Offer in Compromise.

(4) Under certain conditions, you may be able to get out from under IRS debt through bankruptcy.

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