| Thanks to the 2001 Economic Growth and Tax Relief | | | | assets. A more popular tax relief program is offer of |
| Reconciliation Act, there are now many tax relief | | | | compromise. This program also settles your tax |
| programs that allow taxpayers to free themselves | | | | problem by allowing you to pay only a percentage of |
| from their tax liabilities. Being unable to pay taxes on | | | | the tax you owe, but what is investigated is your ability |
| time is not an uncommon occurrence. Since there | | | | to pay the taxes. |
| have been too many cases of tax delinquency, many | | | | Penalty abatement is another method of tax relief that |
| states have developed their own ways to administer | | | | you may qualify for, especially if your failure to pay |
| tax relief. | | | | taxes and the resulting penalties were due to events |
| One relief program that may be available to you is IRS | | | | over which you had no power. These are usually in |
| Tax Settlement, a method of tax relief that allows you | | | | the form of serious illness; death; natural catastrophes, |
| to pay a percentage of the tax owed depending on | | | | such as earthquakes, floods, and fire; or problems such |
| specific conditions of how old you are, how much you | | | | as receiving bad tax advice or even mistakes made |
| earn and spend, and also the computation of all your | | | | by the IRS and sudden changes in tax laws. |