“People with outstanding tax bills need to be wary of aggressive marketing by some venues that make exaggerated promises of eliminating IRS debt,” he said. There are unscrupulous tax debt settlement companies and scammers who will undoubtedly attempt to take advantage of this relief. Be aware that the IRS calls offers in compromise “mills.”Tax debt relief companies may not adequately disclose that OIC is difficult to accept. In the worst cases, the tax debt relief company is downright fraudulent and will take your money and do nothing. The current interest rate is 8 percent, and this will now be applied to any outstanding tax debt that accrues.

Source: Washington Post December 22, 2023 12:35 UTC