How Is Tax Debt Settlement Possible?
For starters, the IRS knows that there are valid reasons for failing to comply with the tax payments that need to be taken into consideration before taking extreme collection measures. But above all, they know that under certain circumstances, no matter how hard they try, there are no chances for them to collect from someone who simply doesn’t have the money to pay what is owed. So, in exchange for part of the amount owed and a reasonable repayment program, they will waive the rest of the debt so the tax payers can go on with their lives.
