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MequonCPA, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2342
Experience:  CPA, Over 30 yrs experience w/individuals and small businesses. Masters in Tax.
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I owe the IRS alot of money 25k. I am on a payment plan but

Resolved Question:

I owe the IRS alot of money 25k. I am on a payment plan but with intrest and penalities I am getting nowhere. What can I do?
Submitted: 8 years ago.
Category: Tax
Expert:  MequonCPA replied 8 years ago.



There are services that can assist you. However I do not have any first hand knowledge of which services are better than others.


One option for you is to submit an Offer in Compromise. This is a proposal to the IRS to settle the amounts owing for some amount less.


I am providing a link to IRS Publication 656 that explains the process. There is no requirement that you use a professional to assist in the preparation, but it may help. An enrolled agent or CPA in your area may be able to assist.


MequonCPA and other Tax Specialists are ready to help you