| Back taxes are not a fun thing to have to pay. When | | | | the forgiven balance is always less than the balance |
| you think that you have filed correctly, then find out | | | | that you don't have to pay, so you are still saving |
| after, in some cases, years, that you have made a | | | | money. There is a certain responsibility is paying taxes, |
| mistake and the penalties have piled up, it can be | | | | so if there are monies owing, technically it is that |
| heartbreaking. If you have a low income and cannot | | | | person who should pay. The IRS is being kind in |
| afford to pay the amount that they are charging you | | | | forgiving some of this so in making a settlement many |
| then you can always propose a settlement. | | | | people are glad to receive any reduction in the amount. |
| We have all heard the negative arguments concerning | | | | In handing over your income and debt documents, the |
| this tactic. If the amount is too high, some say to file for | | | | IRS staff will understand how much you will be able to |
| bankruptcy. Others say that there are other ways to | | | | pay each month, so if your situation is extremely rough, |
| get out paying it anyway, so why bother to settle. | | | | they might take away the whole balance, or the |
| Many argue that you will still end up paying a balance | | | | majority of it. In either case, the amount will usually be |
| and even extra interest on the balance that is taken | | | | less than what you had so you will benefit in the end. |
| forgiven. Well, that may well be true, but the interest on | | | | |