If you’re behind in paying taxes and wondering if there’s any way that you can negotiate payments, the answer is yes. However, that ability to negotiate might not be in the way that you at first think. It’s not about your attorney, or their attorney, sitting down across from each and hammering out a deal. The only way that the IRS can forgive or reduce a tax liability is through the Offer in Compromise program. These three offers include a cash, short-term, or short-term deferred offer. Finding the right compromise boils down to numbers and figures and determining things like allowable expenses.
It takes a qualified tax attorney to help determine if you can qualify for an Offer in Compromise. If so, negotiating a monthly payment will be the next thing on your list. There’s always a chance that you might end up with more than one IRS collector. A lot of things could happen for your benefit or against it. The best advice to take is to find a qualified tax attorney to walk you through what some people refer to as “hell”.
The IRS knows it has only 10 years to collect the amount that you owe. After that, they cannot pursue collecting the debt. This is why they’re so persistent in chasing down people who are delinquent.