Once you find yourself owing the big bad IRS, you’ll find the friendly tax man becomes very aggressive in their tactics imposing interest, penalties, even placing liens on your property. One solution may be to seek out an offer in compromise with the IRS for tax relief. Under its offer in compromise program, the IRS sometimes will negotiate a settlement for less than the total tax debt owed. For example, in 1994 county superstar Willie Nelson settled his $32 million tax debt for the final compromise settlement of $9 million. The IRS accepts many offers in compromise that are properly submitted and organized.

Don’t think that the IRS takes a forgiving approach to any tax debts, the IRS has to be convinced with an offer in compromise that settling your tax debt is in their best interest. When writing an offer in compromise you must be able to show that the likelihood of repayment is exceedingly low given the legal time period the IRS has to collect on a IRS tax debt, you may be eligible for relief under the “Doubt as to Collectibility” criterion. That’s why it pays to work with someone who can speak their language and can get you the best possible deal.

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