The government offers some IRS debt settlements that can help people who are struggling financially and owe back taxes that they are struggling to pay. Most of these deals are a one time thing, and if you owe money to the IRS again you have to battle it alone. The most popular debt settlement is the Offer In Compromise. With Offer In Compromise you only pay a small portion of your tax debt, and are off of the hook for the rest. Qualifying for this is pretty difficult, but it is certainly worth your time to apply. If you qualify you only have to make one lump sum payment to the IRS and you are free from tax debt. If you do not qualify for Offer In Compromise, the IRS has other settlements, but none of them are as forgiving.
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