We owe several thousand in taxes. Has anyone had luck with the IRS and an Offer in Compromise? It's not that I am trying to get out of paying taxes. I've always paid whatever owed. But recently I was out of work (and NO I didn't collect unemployment) for a few months but am at a new job now. Being out of work hurt us financially so I would like to see if the IRS would take a lump sum and forgive the remainder. Anyone try this and succeed? Thanks
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I have not, but have had 3 relatives who were able to work with the IRS to deal with tax debt.
One got a very fair repayment plan with monthly payments for a year.
The other two were able to pay less than the actual debt with a lump sum payment.
So I guess I'd say it works.