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Keyword: irsdebtforgiveness

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  • IRS widens taxpayer debt forgiveness program ("Offer in Compromise" program)

    05/21/2012 8:44:34 PM PDT · by NormsRevenge · 18 replies
    Yahoo ^ | 5/21/12 | Reuters
    WASHINGTON (Reuters) - More middle-class Americans will be able to work out their debts to the U.S. Internal Revenue Service because of changes in a tax payment forgiveness program, the agency announced on Monday. The "Offer in Compromise" program lets taxpayers negotiate agreements with the IRS to pay less than the full tax owed. The announced changes make the program more flexible for taxpayers, with some people able to pay off their debts faster, according to the IRS. The IRS announcement focused on the financial analysis used to determine which taxpayers qualify for an Offer in Compromise. Additionally, the program...