New Guidebook: How to Permanently Settle IRS Back Taxes

Gary W. Lundgren is an IRS Enrolled Agent and co-author of the new 2012 edition of "Slash IRS Back Taxes," a guide to the IRS Offer in Compromise process.  This is the second edition of the book, and is for taxpayers who are unable to pay IRS back taxes, penalties and interest and who want to apply for permanent relief through the IRS Offer in Compromise Program.

According to Lundgren, the the IRS Offer in Compromise process can be a remarkable opportunity to permanently settle back taxes, but that it may be considered only after other tax payment options have been exhausted.

"The IRS wants to settle these back tax debts once and for all because in the long run it's easier and cheaper for them to deal with taxpayers who are in compliance," says Lundgren.

"The Offer in Compromise permanently erases tax debt and gets individuals, families and businesses back on track, usually in less than a year from the date of application."

Under an Offer in Compromise settlement, tax liens are lifted and removed from the taxpayer's credit report. Unlike a bankruptcy, a successful Offer in Compromise settlement does not show up on a credit report.

Co-written with author Stuart D. Heaslet, "Slash IRS Back Taxes" is the newest self-help tax book release by SPX Media. It contains actual case histories and information for do-it-yourself applicants and those who want to find a tax professional. It includes strategies, tips and insights that will help obtain the best possible Offer in Compromise settlement.




Tags: back taxes, bankruptcy, IRS, levies, levy, liens, offer in compromise