If you owe a significant amount in back taxes and can’t pay back the total amount, making the Internal Revenue Service (IRS) an Offer in Compromise might be your best path forward. With an Offer in Compromise, you can settle your tax debt for less than you currently owe (sometimes much less).

When you are ready to make an offer to the IRS, note that you must send the first payment in your plan with the offer. If the IRS rejects your offer, they may either keep the payment and count it against your debt or send it back to you, depending on the rejection.

6. Consider a Debt Relief Company

In these tough economic times, faced with significant credit card debt, many Americans are looking for help reducing their monthly payments. If you’re struggling to keep up with your everyday bills or drowning in debt, a debt relief company may be able to help. These companies work on your behalf to lower your payments to creditors and even eliminate your debt.

You Have Options!

If you owe back taxes, there are options available to help you get your taxes forgiven. For example, file your return, request a hardship extension, or enter into an installment agreement with the IRS. By taking advantage of these programs, you can get the relief you need and avoid penalties and interest.

Don’t wait any longer! Get started today! Act on two or more of the offers below for the best results!