IRS / Tax Settlement?

I've heard a lot of commercials on the radio, and seen some TV ads as well, for groups that do settlements on taxes owed to the IRS. Generally these commercials present themselves as a bunch of ex-IRS employees and/or attorneys that know how to make the IRS settle the taxes due.

I'm curious if anyone has ever used one of these firms or tried this?

I'm not likely to qualify for the insolvency on my credit card settlements, so I will probably have a big tax bill due this next April. I'm just trying to think ahead so want to know more about this, if anyone has something to share.

Well, settling with the IRS is possible but you may need the assistance of an atty for this purpose. Settling it alone can be little stressful.

Hope you'd hear more from the other members too.

If you owe taxes, IRS will work out a monthly payment plan.

We have owed the IRS on several occasions, and they have worked with me with no problems. You didn't mention how much you may owe, that will be a consideration in working with them also.

I told them what I could pay and they agreed. In fact, they were alot better than the collection agencies I have worked with.

I also have a friend that quite a number of years ago, went belly up in his business after his partner skipped out and owed a tremendous amount of taxes. After paying on them for quite some time-they negotiated with him and he got a lower balance, but he owed alot.When you get to the point where you owe them, just remember to make sure you can make the payments you agre to pay them...karen

I'm not exactly sure, but I end up settling all my CC debt this tax year, it could be something like $25-30k... maybe. And I'm not sure how I feel about trading CC debt for IRS debt, even though what I owe to the IRS will be a smaller figure. So I was hoping, after having seen commercials on the TV (and radio), that I could settle any tax debt too.

Do you have any idea what might be the amount you may owe?

I don't know that I would trust something advertised on tv for that purpose. I am too sceptical, and want others opinions on someone I may use.

A friend of ours, years ago, owed a large sum to the IRS from a business closing,partner skipping out, etc. He did pay on it for a number of years, then called the IRS and spoke with them. He got an attorney and in the end, they setled for a smaller amount. Again, this was years ago and he owed thousands upon thousands of dollars on this.

If you think you are going to owe, start putting money back now and if/when it comes to it, you can always make arrangements for the payments..good luck..karen

I'm still working on my taxes, but I think I'm going to owe between $25-35k to the IRS. Unfortunately, there's no way I can put that kind of money aside... I haven't even finished paying off my credit cards yet.

I guess I was hoping for some suggestions on how to go about working with the IRS. I'd rather not have a payment plan, would prefer to settle it, but will have to take what they give me.

Was hoping to hear from people who have done this recently and could provide some pointers and/or tell me what the process was like...

That is a rather large amount. I believe the friend of mine ended up meeting with someone from the IRS and had to take all of his finalcial stuff, etc, and they eventually worked out a settlement.

I am "bumping" this up, maybe someone has used the settlement option recently and can help you...Best of luck..karen