#tax settlements

The tax resolution process and timeline will vary from taxpayer to taxpayer, and will depend on several factors: how much you owe, your income and expenses, the statute of limitations for collection, and your ability to understand how the IRS assesses tax debt, penalties, and interest. The other big factor in tax resolution is knowing that there *ARE* ways of working with taxing agencies when you owe back taxes, and taking the right steps to make that happen.

Tax resolution outcomes will also vary. Some taxpayers will be able to settle their debt for much less than they owe (usually done with an Offer in Compromise). If the IRS determines that they are collectible on their tax debt, however, taxpayers will have to pay back what they owe, though the IRS can accept monthly payment plans in most cases. Other people end up on monthly payment plans, but end up paying back less than what they owe over time.

Predicting how your case will appear to the IRS or state revenue department can be tricky, though experienced tax professionals can give you reasonable estimates of what to expect. Therefore, it's a good idea to work with a federally authorized tax practitioner who has experience dealing with IRS collections protocol, revenue officers, and appeals.