How To Eliminate Tax Debt: Does The IRS Actually Wipe Out Back Taxes?
As a tax relief company, we see how harmful the cycle of debt is every day. Learning how to eliminate tax debt is one of the best things you can do for your wallet.
Fortunately, the IRS acknowledges this phenomenon and created a program that can eliminate your back taxes.
Keep reading to find out how to wipe out your tax debt in 2022!
How Does One Gain Tax Debt?
What Is The Fresh Start Program?
What Is An Offer In Compromise (OIC)?
How An OIC Can Eliminate Your Tax Debt?
Requirements To Apply For An Offer In Compromise (OIC)
- Prove your inability to pay (prove income, expenses, and asset equity)
- File all missing or incomplete tax returns
- Made all required estimated tax payments for the current year
- Your reasonable collection potential (RCP) must be less than the amount the taxpayer offered to settle for