Payment Solutions: Can I Settle My IRS Tax Debt Can I settle my IRS tax debt? Yes, the IRS offers multiple settlement pathways including Offer in Compromise, installment agreements, and Currently Not Collectible status. According to IRS data, taxpayers use IRS-administered programs to address outstanding tax balances each year. Can I Settle My IRS Tax […]

Refund Deadlines: What Is the IRS 3-Year Rule What is the IRS 3-year rule? The IRS 3-year rule establishes crucial time limits that affect your ability to claim tax refunds and determines how long the IRS can audit your returns. Understanding these deadlines explains how refund and audit time limits operate under IRS rules. Tax […]

IRS Guidance: If I Owe Taxes and Can’t Pay If I owe taxes and can’t pay the full amount, the IRS offers multiple relief options, including installment agreements, currently not collectible status, and offer in compromise programs. According to IRS data, many taxpayers enter payment arrangements each year through IRS-administered programs. Step-by-Step Guide: If I […]

Tax Terms Explained: What IRS Debts Are Eligible for Forgiveness What IRS debts are eligible for forgiveness? Most federal income tax debts, including back taxes, penalties, and accrued interest, can qualify for IRS forgiveness programs like Offer in Compromise, Currently Not Collectible status, or penalty abatement. Federal income tax debts, including back taxes, penalties, and […]

Credit Impact: Does Settling With the IRS Hurt Your Credit Does settling with the IRS hurt your credit? No, IRS settlements do not directly impact your credit score. The IRS does not report tax debts, payment plans, or settlements to credit bureaus. However, related actions like federal tax liens can affect lending decisions through public […]