Monthly payment for my IRS debt?

The answer is generally yes but before you move ahead with a payment proposal for IRS we like to get more information. First, we would like to determine your ability to make a monthly payment to the IRS. If you don't have any ability to pay that presents some options. If you don't have assets that disqualify you why not submit an offer in compromise to settle your tax debt for less that you owe? This would be a great option. If your offer is accepted then you can just get the matter settled and put it behind you as long as you stay in compliance for the next five years. Second option is if you have no ability to pay then your account can be placed in non collect status. You have no ability to pay IRS so you don't have to make a monthly payment. This has to be submitted to the IRS on their financial statement with attachments to prove your inability to pay. The penalty and interest do continue to be added to your debt but you and your family don't have to do without just to pay on an IRS debt if you have no ability to do so. The next information I would like to know is the statue of limitations expiration date. An IRS debt doesn't last forever and we want to know when the statue expires. Yes, the time for IRS to collect can expire and your account transcript will say statue expiration debt forgiven and the balance will be zero. You have to ask when the statue will expire IRS doesn't just volunteer this information. I see people try to deal with a revenue officer and get a payment amount that is much higher than they can  pay. This leads to a defaulted agreement. Collection action will ultimately follow and you will be right back where you started. There is often more than a monthly payment involved when you look at your IRS debt and how to deal with it.

Robby