Offer in compromise | Internal Revenue Service
Offer in compromise | Internal Revenue Service
May 22, 2025
irs.gov
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Tax expert explains what happens if you owe millions to the IRS and can’t pay“If you owe the IRS and you legitimately don’t have the money to pay them, you have two options. You can either get on a payment plan or you can do an offer in compromise”“Now the payment plan only works if your tax bill is $50,000 or less. So if you’re making millions and you owe millions, you’re in a situation here”“This is where the offer in compromise comes in. The IRS knows you probably aren’t going to be able to p
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