Understanding Your Tax Resolution Options

Dealing with back taxes or IRS issues can be stressful and overwhelming. However, there are legitimate options available to resolve your tax problems. Understanding these options is the first step toward regaining financial stability.

Installment Agreements allow taxpayers to pay their tax debt in monthly payments over time. The IRS offers several types, including streamlined agreements for debts under $50,000 and partial payment agreements where you may not need to pay the full amount.

An Offer in Compromise (OIC) allows you to settle your tax debt for less than the full amount owed. The IRS considers your income, expenses, assets, and ability to pay when evaluating an OIC. While not everyone qualifies, it can provide significant relief when accepted.

Penalty Abatement is available for taxpayers who have a reasonable cause for failing to file or pay on time. First-time penalty abatement is available for taxpayers with a clean compliance history for the prior three years.

Currently Not Collectible (CNC) status may be available if paying your tax debt would create significant financial hardship. While this doesn't eliminate the debt, it temporarily stops IRS collection actions.

IntegraFin's tax resolution team has helped hundreds of clients resolve their IRS issues. We evaluate your specific situation, recommend the best course of action, and handle all negotiations with the IRS on your behalf.