If you’re overwhelmed by mounting IRS bills, penalties, and notices, you’re not alone. Every year, millions of Americans face the crippling stress of back taxes and wage garnishments. But here’s the good news: tax debt relief solutions exist, and they could drastically reduce what you owe or make your debt more manageable.
Below, we’ll break down the top IRS settlement strategies that can help you breathe easier and regain financial control.
This is one of the most well-known tax debt relief options. An Offer in Compromise allows you to settle your tax debt for less than the full amount you owe. The IRS considers your ability to pay, income, expenses, and asset equity. If you can prove financial hardship, you may qualify to resolve your debt for pennies on the dollar.
Quick Tip: Applying for an OIC is complex—errors can delay or deny approval. Work with a qualified tax relief professional to increase your chances of success.
Can’t pay your full tax bill upfront? An installment agreement lets you pay your debt over time in monthly payments. There are different types—short-term, long-term, and partial payment plans—depending on how much you owe and your financial situation.
This is a smart option for taxpayers who don’t qualify for an Offer in Compromise but still need relief.
If you truly can’t afford to make any payments, the IRS may declare your account “Currently Not Collectible.” This means they temporarily stop collection actions (like wage garnishments and levies). While the debt doesn’t go away, you’ll gain time to stabilize your finances without added pressure.
IRS penalties and interest can dramatically inflate your tax bill. However, you may qualify for penalty abatement if you have a valid reason for falling behind, like a serious illness, job loss, or natural disaster. Removing penalties can significantly reduce your overall debt.
Filed jointly and now facing tax debt caused by your spouse’s (or ex-spouse’s) mistakes or fraud? Innocent Spouse Relief could remove your responsibility for some or all of the tax debt. It protects individuals unfairly held liable for their partner’s errors.
When knee-deep in tax debt, the IRS can feel like a giant you can’t defeat alone. But you don’t have to go alone to it.
At Dreis Accounting Services, we specialize in tax debt relief programs tailored to your unique situation. Whether you need help filing an Offer in Compromise, setting up a payment plan, or negotiating with the IRS, our experienced tax professionals are ready to fight for your financial freedom.
✅ Free tax debt consultation
✅ Personalized IRS settlement strategies
✅ Fast action to stop wage garnishments and liens
Don’t wait until the IRS escalates its actions. Call Dreis Accounting Services today or schedule your free consultation online. The road to freedom from tax debt starts now—and we’ll walk it with you.
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