If you owe more than you can pay right now, there are three options, short of bankruptcy, available to you. If you can’t pay anything on a monthly basis, then you may qualify for “currently not collectible” or “hardship” status. If you cannot pay all of it now, but you can afford to pay some each month, then you are a candidate for an installment agreement. If the amount you can pay each month is not enough to pay off the amount owed over the next five years, then you are a possible candidate for an Offer In Compromise (OIC).
In addition to the above options there are variations of Installment Agreements and Offers in Compromise, Innocent Spouse Relief, Penalty Abatement, Audit Reconsideration, Judicial Reviews and Appeals remedies that can reduce and/or eliminate a tax liability depending on the circumstances of the taxpayer. http://getirshelptoday.com