| Where do I Begin? So you've gotten yourself into a big | | | | IRS collection process. This is essential if you want to |
| mess with the IRS. Now you want to settle your debt | | | | know exactly what the IRS can do to you. |
| once and for all. But where do you start? First of all, | | | | - Form 656: This form contains instructions for an |
| you're not even sure what you can do. Depending on | | | | Offer in Compromise program. The form is 44 pages |
| your situation, you may qualify for multiple programs. | | | | and it's a little hard to read, but at least it's the only one |
| How do you know which is best for you? | | | | you need. |
| Best Left to the Pros: When it comes to IRS tax debt, | | | | - Publication 971 and Form 8857: These forms are the |
| help is always available. The trick is getting a company | | | | detailed explanation of Innocent Spouse relief. These |
| who's not after your wallet. Some companies will tell | | | | also contain the paperwork needed to apply for the |
| you that you qualify for certain programs before they | | | | relief. If you're debt is due to an ex spouse, you could |
| even ask about your issue. A good tax professional | | | | remove your debt entirely. |
| will analyze your financial situation so they can put you | | | | - Publication 5 and Form 12203: These forms allow you |
| in the best possible solution. When it comes to settling | | | | to dispute an IRS tax debt. While the IRS does not |
| IRS debt, it is done on a case by case basis. Everyone | | | | particularly want you to do this, it is your right as an |
| is different. | | | | American Taxpayer. |
| What about Forms? Once you decide which program | | | | - Form 9465 and 2159: These are the forms and |
| is best for you, you're going to need to get the forms | | | | instructions needed for an Installment Agreement. |
| and instructions for each program. But where do you | | | | While it's not a settlement, it's certainly easier paying |
| get them? Where these forms are and what they're | | | | your debt off over time. |
| called is far from common knowledge. Here's a list of | | | | These forms and publications are available on the main |
| the most important ones, for each program: | | | | IRS website, and you can reach the alphabetical index |
| - Publication 594: This could very well be the most | | | | for topics at the following link: |
| important form of all. This is a detailed publication of the | | | | Now you have the smoking gun...Use it! |