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Partial
Payment Instalment Plan- A partial payment
instalment plan allows the debtor to make ongoing monthly
payments toward their prior debt. These payments do not pay
the entire amount owed in full. Instead, when the instalment
payment plan has successfully been completed, the remainder
of the debt is forgiven by the IRS. A partial repayment plan
is one option available to individuals and businesses with
outstanding IRS debts.
Small
Dollar Repayment Plans-
In the event that the individual taxpayer’s tax
liability of less than $25,000, a 60 month repayment plan
option may be available.
Offer
to Compromise- An offer to compromise allows
the individual taxpayer to repay a lesser amount to the IRS
than is currently owed.
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