IRS Tax Settlement: The Full Story
By MATTHEW L. WALD
WASHINGTON -
Tax Settlement and Relief, Sounds like a scam? Or like you're finally getting the break you deserve?
The answer may surprise you. Tax Settlement is, in fact, a perfectly legal solution for consumers who are in deep tax debt and seeking a relief.
The phrase tax settlement usually refers to the process where taxpayers settle their back tax liabilities with the Internal Revenue Service (IRS). Specifically, taxpayers reach an agreement or settlement, with the IRS agreeing to pay their income tax debts in part or in full through one of the IRS's back tax settlement programs.
The IRS offers several different back tax resolution programs to taxpayers based on their individual financial situations. However, before the IRS will consider an offer to resolve back taxes, taxpayers must be fully compliant with their tax obligations. The exact tax obligations vary, but typically taxpayers must have all past-due tax returns filed and they must remain compliant with ongoing payments.
10 Ways to Spot Tax Settlement Scams
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