An IRS payment plan option may be the best way to resolve your tax debt problems if you do not qualify for the IRS Offer in Compromise program. This payment plan will help you reduce your tax burden by implementing methods such as:
Remember, the IRS is very patient in collecting what is owed to them. As a creditor, the IRS carries the weight of the federal government behind it and, therefore, has extensive methods to collect outstanding tax debts. As long as IRS knows it will get paid someday, they will wait until you are in a better financial position to pay in full or in installments. Of course, the longer you take to pay your tax debt, the more you will owe.
You do not want to end up owing more. When you believe you are ready to seek possible options of paying off your tax debt, you must contact a professional to assist you in the best legal manner possible. Although setting up an IRS payment plan will start you on your way to paying off your tax debts, it is unfortunate that the interest will continue to accrue on your debt, which you are required to pay, as long as you have an outstanding balance. Contact us at 844-332-DEBT so we may assist you in establishing a payment plan with the IRS.