Tax Debt Settlement

The IRS might seem unforgiving about tax debts. However, with the help of tax debt settlement professionals, you can settle debts for less than what you initially owed. They’ll help you choose the right tax relief option and prepare accurate documentation to make the IRS agree with your proposed settlement.

Innovative Tax Relief is a trusted provider of IRS tax debt settlement solutions. We have a team of IRS agents, accountants, and attorneys who can negotiate with the agency on your behalf to make manageable payments until you settle your tax debt.

What are the types of tax debt settlement?

The tax debt settlement process is simpler than most people think. It’s a matter of submitting the right forms and documents to the IRS. Approval is another matter entirely, though. You have to choose the right type of settlement and be able to prove that you qualify.

Here’s a rundown of IRS tax debt settlement options:

  • Currently Non-Collectible (putting off your tax debt until your financial situation stabilizes)
  • Installment Agreement (paying off your tax debt in reasonable installments over a set period)
  • Offer in Compromise (paying a considerably lower amount than your initial tax debt)
  • Penalty Abatement (removing all penalties and late fees from your total tax liabilities)

What are the benefits of tax debt settlement?

The IRS automatically freezes your penalties and interest once you get approved for a tax debt settlement. This isn’t the only thing you can get out of it, though.

A tax debt settlement helps you avoid liens, asset seizures, and wage garnishments. It also greatly reduces how much you need to pay the IRS. You’ll be paying a considerably lower amount of money because you’ll no longer be subject to penalties and late fees.

Who qualifies for tax debt settlement?

The IRS tax debt settlement program is open to all taxpayers. This isn’t a guarantee that you will qualify for a settlement, though. You should be able to prove that you’re struggling to pay tax debts because of your financial situation, not because of negligence.

If the IRS can argue that you have sufficient income to pay off your tax debt on time, the settlement will be rejected. However, the agency might be open to accepting payment in installments until you pay off the debt.

Alternatively, you could use these reasons for penalty abatement:

  • Administrative waiver (first-time abatement or hardship failure to pay your penalty relief)
  • Appeals – hazards of litigation (a settlement with the IRS that removes accuracy penalty)
  • Statutory exception (a type of relief granted to those in a disaster area or a combat zone)
  • Reasonable cause (disasters, honest errors, long-term illnesses, loss of records, etc.)

Let our tax settlement experts present a compelling case on your behalf.

Request a free tax settlement consultation.

Innovative Tax Relief is a full-service tax resolution company. As an IRS Enrolled Agent, we are licensed to practice throughout the United States. We can help you with tax settlement regardless of your current location.

Talk to one of our tax debt settlement professionals about the tax issues that you need to resolve. Our IRS enrolled agents, CPAs, and tax attorneys will work together to address the situation in the quickest and simplest way possible.

Schedule a free no-obligation consultation today.

I don’t usually write reviews but these guys were so great I just had to. I had so many tax issues and Carmine was patient, walked me through everything, and found a solution that I am very happy with. I am so thankful for their help. If you have tax issues, these are the guys to use.
I called Innovative Tax Relief and spoke with Ozzie. I am so relieved. I was nervous at first because I owed the IRS a lot of money. They were able to help me set up a payment plan that I can comfortably afford. Thank you Ozzie and Innovative Tax Relief. I would totally recommend.
We were struggling to deal with our IRS back tax debt but after reaching out to Innovative Tax we felt relief knowing It was taken care of. They were very professional and worked with me to help understand my situation and resolve it. I am so thankful for their great service!
I worked with Ozzie, he was awesome, kept me informed of what was going on with my case, answered me right away when I called him, calmed me down when I was over-anxious. Innovative Tax Relief is a fantastic company to work with, I would recommend them to anyone needing help with a tax problem. Thank you Ozzie, you are wonderful.
I reached out to get some help with a tax problem and they were able to help me out. [They] helped me avoid going into a payment plan with the IRS and I saved money because of it! This company helped me out so much and helped me get my debt down.
If you’re looking for honest help with your taxes, this company is it! They took extra time to explain all my options to me. They were perfect for what I needed.

We're a BBB accredited business with an A rating

We're rated 5 out of 5 on Google by 21 clients

Schedule a Free Consultation With a Tax Expert