Consolidating consolidation de debt information
If you think you have fallen off the track, how will you react to the fall?
It may be time to regroup and re-evaluate and make the necessary changes to get back on track.
If you don’t think the IRS will agree to an offer in compromise, installment agreements are a great alternative and the most common way to achieve tax consolidation with the IRS.
Your tax debt can be negotiated with the IRS, however, it’s rarely for “pennies on the dollar”.
The debt from each year generates its own penalties and interest (meaning the IRS doesn’t consolidate all of your debt for you as it builds up over the years).
Fortunately, the IRS will allow you to consolidate back taxes for multiple years of delinquency.
If you’re struggling with multiple bills for back taxes from the IRS, you’re not alone.
In 2017, there were 937,514 taxpayers with delinquent accounts.
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Depending on the size of your debt, these payments may stretch out as long as long as 6 years.