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IRS Debt Forgiveness for the Average American

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by: No more debt !
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Date: Sun, 27 Oct 2013 Time: 9:50 PM


   IRS Debt Forgiveness can be a life-saver for those facing excessive tax debt. Unfortunately, the average American has no idea that they may be eligible for money saving tax relief programs. If you are under the thumb of the IRS, you could face financially damaging wage garnishments, tax liens, bank levies, and imposing penalties and fines.

As in most cases when dealing with the IRS, contacting a professional tax attorney is the best practice. This will ensure you will receive the tax relief you deserve. If you are faced with an audit or other type of IRS inquiry, your tax attorney can guide you through the process of reaching financial independence from the IRS. 

Here is a list of some IRS debt forgiveness programs you may be eligible for:

  1. Installment Agreements: The IRS will agree to an installment agreement if the debt owed is less than $10,000. Affordable monthly payments for debt owed will be due to the IRS each month. The payments must be made on time, you must file your yearly tax returns on time, and the debt must be paid in an agreed upon amount of time for the installment agreement to continue.
  2. Partial Payment Installment Agreement: This relatively new program allows individuals to make regular monthly payments to the IRS. Instead of paying the entire debt due, the individual is allowed to make payments for a set amount of time, once that time has ended the remainder of the tax debt is forgiven. This type of debt forgiveness plan will allow individuals to pay off less tax debt than they owe.
  3. Offer in Compromise: This program allows individuals to pay off less tax debt than they owe. At the IRS's discretion, a tax payer may be relieved of much of their debt due to the inability of the IRS to be able to collect the entire debt owed. The IRS has recently loosened the requirements for eligibility of this program. To find out if you qualify for Offer in Compromise, contact your professional tax attorney.
  4. Not Currently Collectible: If you are facing financial hardship, you may qualify for IRS Non-Collectible Status. This means the IRS will delay collection attempts and release the tax payer from wage garnishment and late penalties. In some instances this status with the IRS could reach the time limit for the collection of tax debt owed, in which case your tax debt will be forgiven.

When you are overwhelmed by tax debt, you may not know where to turn for relief. For the best tax lawyers in California, contact the experts at Optima Tax Relief. They can help you apply for IRS debt forgiveness programs and negotiate down your tax debt with the IRS.

About the Author

Devin Finley is a freelance writer and tax relief expert. Devin writes on a multitude of financial and legal topics. He enjoys collaborating and strategizing with other professionals to ensure tax & debt clients receive competent and beneficial representation. For more information Visit

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