The courts reviewed the position that taxpayers who are in bankruptcy and cannot afford to pay their tax bill can use the offer-in-compromise procedure to reduce the amount of the bill. Charles ...

Forbes contributors publish independent expert analyses and insights. I strive to alleviate stress by analyzing and clarifying the tax code. If you owe a significant sum to the IRS, it’s crucial to be ...

Tax season might be behind us, but for millions of Americans, the stress of unpaid tax bills still lingers. But whether it's due to an issue with unexpected income, a missed payment to the Internal ...

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. For those who cannot pay the full ...

Facing overwhelming tax debt can be daunting, especially with mounting interest and penalties. However, the IRS offers several relief options, including the Offer in Compromise (OIC), which allows ...

Question: I have built up multiple years of tax debt and have been living in fear of liens and garnishments. Are the television ads true? Is there a way I can make a deal for a lesser amount so I can ...

Text Callout : Key Takeaways - IRS Offer in Compromise: Everything You Need to Know If you’ve found yourself in debt to Uncle Sam, there are many ways to pay what ...