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Back Taxes

One of the most common questions I hear is, ''I owe the IRS years of back taxes, what are my options?'' Many taxpayers gravitate towards the Offer in Compromise (OIC) program, possibly falling victim to the late night television commercials that claim ''we can settle your back tax debt for pennies on the dollar.'' No reasonable person would pass up the opportunity to settle their IRS debt for ''pennies on the dollar,'' but the reality is those types of resolutions are few and far between. While an OIC may work for some, it certainly does not work, or make sense, for all. The good news is the IRS has many other options available to alleviate an individual's back taxes. I can explain each of the methods and guide you through the process.