Settle Your Tax Debt comprehensively covers the government’s tax debt forgiveness program known as the IRS “Offer in Compromise” (OIC) program. This policy allows taxpayers to settle back tax debt once and for all and usually for pennies on the dollar. In July 1996, Congress passed a new law known as the Taxpayer Bill of Rights 2 which expanded the scope of the OIC program resulting in an even greater percentage of taxpayers eligible for tax debt relief.

Although this is a tool the IRS doesn’t like to advertise, the OIC program has helped many taxpayers with tax liabilities avoid possible bankruptcy and financial ruin. Settle Your Tax Debt provides all the information taxpayers need to settle an IRS debt by preparing an Offer in Compromise package. The book outlines a 10-step process with line by line explanations for filling out the complicated forms and schedules required.

Settle Your Tax Debt excerpts from the actual Internal Revenue Manual currently in use by IRS agents. By using these checklists, flowcharts, summaries, and examples, readers can save tens of thousands of dollars in professional fees and penalties, not to mention countless hours of frustration. The book arms taxpayers with nuts and bolts information and examples about the IRS audit and collection process, giving them a game plan for dealing with the burden of tax debt once and for all