Can You Settle Your IRS Tax Debt Before the Holidays?
The holiday season should be a time for celebration, not sleepless nights over tax debt. But for many, the financial stress of owing the IRS makes it hard to focus on family gatherings or the joy of the season. If you’re feeling the weight of unpaid taxes, there’s good news: you may still have time to take meaningful steps toward a resolution before the year ends.
A Powerful Option: The Offer in Compromise
The IRS’s Offer in Compromise (OIC) program allows qualifying taxpayers to settle their tax debt for less than the full amount owed. This isn’t a loophole, it’s a legitimate program designed to give people a fresh start when paying the full balance would cause financial hardship.
To be considered, you must:
- Be current on all required tax filings
- Show you can’t realistically pay the full debt before the statute of limitations expires
- Provide detailed financial information (income, expenses, assets, and liabilities)
The application process requires careful documentation and a strong case showing why full payment is not possible. This is where experienced legal help can make a life-changing difference.
A Real Client Success Story
One of Robert Boeshaar’s clients came to him with over $120,000
in tax debt and no clear way forward. By carefully preparing and negotiating an Offer in Compromise, Robert’s team was able to settle the case for just $4,000
, freeing the client from an overwhelming burden and giving them the peace of mind to move forward.
Other Paths to Relief
If you don’t qualify for an OIC, you may still be able to stop collection actions and create breathing room through:
- Installment Agreements – Monthly payments toward your debt
- Currently Not Collectible (CNC) Status – Temporary suspension of collections if you can’t afford to pay now
Why Now Is the Time to Act
The IRS moves quickly on unpaid debts, and the closer we get to the new year, the harder it becomes to focus on financial matters. Starting now means you could head into January with either a resolution in place or a clear plan to get there — instead of more penalties and interest.
If you’ve been carrying the stress of IRS debt, you don’t have to carry it into the holidays.
Act now and give yourself the gift of a fresh start. Schedule a confidential consultation today and take the first step toward resolving your tax debt before year’s end.