How To Get an Offer in Compromise From the IRS

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Struggling with tax debt? An Offer in Compromise might be the solution you need. This IRS program allows you to settle your tax debt for less than you owe, but there are steps to follow. First, you need to qualify. The IRS will consider your income, expenses, and ability to pay back your tax debt. To qualify, you must have filed your required tax returns, paid estimates of what you owed, not be in a bankruptcy proceeding, along with other criteria. Once you apply, be sure to keep up with any current tax payments and filing requirements. When applying, you can request a lump sum payment or an installment plan. Interested in learning more about Offers in Compromise? Visit LawInfo.com today for guidance.