A tax settlement is when a taxpayer settles their tax liabilities through one of the IRS programs/filings. The IRS offers settlements to taxpayers that are struggling with their tax debts or have valid reasons to abate their penalties. The IRS offers several different options for taxpayers to settle their taxes owed. The main factor the IRS takes into consideration when determining if the taxpayer will qualify for a tax settlement is their financial situation. The tax settlement that a taxpayer qualifies for is dependent upon their unique financial situation. The IRS prefers individuals to pay their taxes owed in full, but they will make exceptions for certain circumstances.
If you would like to pursue a settlement offer with the IRS please call our office for a free consultation to learn of your options.