How Do You Settle With The IRS For Pennies On The Dollar?
Do you owe the IRS back taxes? Have you seen those late-night TV commercials offering to settle your tax debt for “pennies on the dollar” — in exchange for a high fee? Here’s how you can settle your own IRS tax debt for pennies on the dollar without having to pay a high-priced company. First, go to the IRS website at http://www.irs.gov and click on the “Forms and Publications” link in the upper left hand corner. Download Forms 656 and 433-A. Start with Form 433-A. Use your monthly bills to complete the form. This might take you a few hours to organize all of the information, so block some time out for it. Next complete Form 656. It looks like a long form, but it’s mostly boilerplate. The information you have to input is minimal. Mail Form 433-A, Form 656, and a “user fee” of $150 to the IRS settlement office. See Form 656 for the appropriate address, but there are only two offices. You mail it to NY if you live east of the Mississippi, and to Memphis if you live west of the Mississipp
