“I owe the IRS $74,367 for several years of back taxes but do not have the money to pay them at all.  I want to get them off my back and heard of something called an Offer In Compromise settlement.  What is that and do I qualify?”

“I owe the IRS $74,367 for several years of back taxes but do not have the money to pay them at all. I want to get them off my back and heard of something called an Offer In Compromise settlement. What is that and do I qualify?”

An Offer in Compromise is a legal binding agreement between the taxpayer and the IRS that settles the full amount owed.  Many times, for a FRACTION of what’s owed. It’s the IRS’s version of a “fresh start” when it comes to IRS debt.  If approved, the...