Tax Relief Explained: What To Do If You Can't Pay Your Taxes

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Tax relief is a general term used to describe various programs that taxpayers and their representatives — such as enrolled agents, CPAs, and tax attorneys — utilize to minimize or even eliminate the taxes, penalties, and interest a taxpayer owes to the IRS and other tax agencies.

These tax relief programs range from a simple phone call to the government for first-time penalty abatement to a full-fledged offer in compromise.

In this video, Logan Allec CPA answers the question, "What Is Tax Relief?" and goes over the three major IRS tax relief programs we use everyday for our clients.

Videos Mentioned In This Video:
➡️ Offer In Compromise Basics:    • Offer in Compromise 2024: How to Qual...  
➡️ Offer In Compromise Formula:    • Offer in Compromise Guidelines + Form...  
➡️ Filing Back Taxes:    • How to File BACK TAXES, Avoid PENALTI...  

Table of Contents:
0:00 What Is Tax Relief?
2:12 Tax Relief Program Commonalities
3:10 The Three Major Tax Relief Strategies
7:03 An Offer in Compromise May Not Be the Best Option
8:10 Shady Tax Relief Companies
9:00 Tax Relief Program #1: Offer in Compromise (OIC)
11:12 State Offer in Compromise Programs
14:05 Tax Relief Program #2: Currently Not Collectible (CNC) Status
20:36 Tax Relief Program #3: Partial-Pay Installment Agreement (PPIA)