There are different types
of tax relief

including tax deductions, tax credits, and tax forgiveness. In essence, tax relief consists of IRS programs that were designed to reduce one’s tax bill.

Offer in Compromise is a negotiation between the IRS and an individual who struggles to pay their tax liability in full or will experience financial hardship in doing so. This is also a legitimate method to settle tax delinquencies for a reduced amount. There are certain factors to consider such as income, ability to pay, and asset equity.