You should immediately consult a tax relief company to get rid of the IRS debt. However, there are certain ways to get relief from IRS tax debts. You can try to settle the debt by materializing an installment agreement plan. In this plan you will have to monthly installments to repay the debt. You can also opt for offer in compromise. In this option, you can arrive at amount payable by you, less than the original amount you owed to them.
You might also want to settle for partial installment plan in which you will have to pay the amount but with a reduced rate of interest. There is also another program through which the IRS gives you more time to pay your debt voluntarily by not collecting it for one month. Lastly, you can file bankruptcy. You can either file chapter 7 or chapter 13 bankruptcy.
You really should contact an irs tax person, they will make payment arrangements with you. They can't take what you don't have.
Hi Jassica,
You should immediately consult a tax relief company to get rid of the IRS debt. However, there are certain ways to get relief from IRS tax debts. You can try to settle the debt by materializing an installment agreement plan. In this plan you will have to monthly installments to repay the debt. You can also opt for offer in compromise. In this option, you can arrive at amount payable by you, less than the original amount you owed to them.
You might also want to settle for partial installment plan in which you will have to pay the amount but with a reduced rate of interest. There is also another program through which the IRS gives you more time to pay your debt voluntarily by not collecting it for one month. Lastly, you can file bankruptcy. You can either file chapter 7 or chapter 13 bankruptcy.