Dec 19, 2007

Your tax debt- Part 1 in a series to discuss the collection resolution options available

In dealing with people with tax debt issues, I constantly receive questions on options available for “settlement” of tax debt or dealing with the IRS on tax debt issues. In the next series of blog entries, I am going to attempt to address the process and procedures the IRS Collection function will utilize in resolving your tax debt. Always remember, the IRS Collection function is a collection agency, first and foremost.

This series will address the following commonly asked questions on how to resolve your tax debt with the Collection function of the IRS:

• Can I not pay the IRS for awhile why I get back on my feet?
• I cannot afford to pay them, surely the IRS will see that, won’t they?
• If the IRS denies my Offer, what else can I do?
• What options are available to me?
• I want a settlement, do I qualify?
• If you get me in CNC, will it last forever?
• Can the IRS change my Installment Agreement?

It is recommended that you consult a competent tax professional for all of your options and questions.

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