Answers to Common IRS Tax Debt Questions
Clear answers to the questions we hear most about IRS tax debt. Our representation is led by CPAs and Enrolled Agents and based on financial analysis, compliance review, and direct communication with the IRS.
Common questions
I owe the IRS $100,000. What are my options?
Common options include a payment plan, an Offer in Compromise, Currently Not Collectible status, and penalty relief. The right choice depends on your income, expenses, assets and filing compliance.
Read the full answer →Can a CPA negotiate with the IRS for me?
Yes. CPAs, Enrolled Agents and attorneys have unlimited rights to represent taxpayers before the IRS. With your signed Form 2848, we can speak with the IRS and negotiate on your behalf.
Read the full answer →How do I know whether I qualify for an Offer in Compromise?
You must have filed all required returns, made required estimated payments, and not be in an open bankruptcy. The IRS then compares your offer to what it could reasonably collect from your income and assets.
Read the full answer →What happens when an IRS Revenue Officer is assigned to my business?
A Revenue Officer is a field collection employee who can request financial statements, set deadlines, and recommend liens or levies. Responding quickly and accurately is the best way to protect the business.
Read the full answer →Can the IRS hold me personally responsible for my company's payroll taxes?
Yes. Under the Trust Fund Recovery Penalty, a person who was responsible for paying withheld payroll taxes and willfully did not can be held personally liable.
Read the full answer →How can I stop an IRS bank levy?
Acting fast matters. The bank holds levied funds for 21 days. Options include requesting a hearing, setting up a payment plan, showing economic hardship, or resolving the balance.
Read the full answer →Can I get IRS penalties removed?
Often, yes. The IRS offers First-Time Abatement for taxpayers with a clean recent history, and relief for reasonable cause such as serious illness or disaster.
Read the full answer →Offer in Compromise vs. installment agreement: which is appropriate?
An installment agreement pays the full balance over time. An Offer in Compromise settles for less, but only when you cannot realistically pay in full.
Read the full answer →What is Currently Not Collectible status?
It is a temporary IRS hold on collection when paying would leave you unable to cover basic living expenses. The debt remains, but levies generally stop.
Read the full answer →What happens if my business has several years of unfiled payroll tax returns?
Penalties and interest grow, and the IRS can file returns for you and pursue the owners personally. Getting back into compliance is the first step to any resolution.
Read the full answer →This page provides general information, not tax or legal advice for your specific situation. IRS rules, fees and thresholds can change. Past results do not guarantee a similar outcome, and every case depends on its own facts. Franskoviak Tax Solutions, operated by Titan Tax Solutions, P.C., provides representation where permitted.
