Options to Consider If You Do Not Qualify For Innocent Spouse Relief

You want to take advantage of Innocent Spousegeneral they allow a taxpayer to pay a small amount
Relief but you do not qualify. This is something thatof money each month until the debt is gone. The kicker
many people face every year. While innocent spouseis that you end up paying more than you owe
relief is a huge help to some people who havebecause of interest.
experienced a divorce, for others it is a disappointmentWhat about an Offer In Compromise? If you do not
because the IRS is not going to let them takequalify for innocent spouse relief you may want to
advantage. But remember this: just because you doattempt to settle your debt in this manner. If you qualify
not qualify for innocent spouse relief does not meanfor an Offer In Compromise the IRS will agree to settle
that you are now in a very bad position. Sure, youyour debt for less than what you actually owe. This is
have to change your way of thinking but there areone of the best methods of tax settlement, if you
other ways that you can get out of debt.qualify, of course.
To start, get an exact number of how much you owe.You should also consider penalty abatement. This will
Do you owe $5k? Do you owe more or less thannot do anything to the balance that you owe, but it can
this? It does not really matter how much money youwipe out some or all of the penalties that you have
owe the IRS. The fact of the matter is that you haveracked up.
to pay it back, and the IRS wants the cash soonerIt can be disappointing to find that you do not qualify
rather than later.for innocent spouse relief. With that in mind, do not give
One of the first options to consider is a payment planup. There are other IRS debt settlement methods to
often called an Installment Agreement. There areconsider.
different types of IRS Installment Agreements but in