If the IRS has determined that you are unable to pay the full amount due to them either with your current assets or with your future income stream less certain living allowances, they may enter into an Offer in Compromise. This will allow you to settle your debt to the IRS for less than the full amount you actually owe. Be leery of those who promise to settle your IRS debts for pennies on the dollar. They may be promising more than they can deliver.
Mattson Gleason CPAs Ltd Your success is our business.
IMPORTANT NOTICE: To ensure compliance with Treasury Department regulations, we advise you that, unless otherwise expressly indicated, any federal tax advice contained in this message was not intended or written to be used, and cannot be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions or (ii) promoting, marketing or recommending to another party any tax-related matters addressed herein.