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1) Installment Agreements: Break the tax due into smaller payments over 72 months or less. If you owe less than $50,000 and you offer to make monthly payments to pay the entire balance within 72 months, depending on the IRS’ collection statute of limitations, then you can simply submit the installment agreement request without additional documentation. If you owe more than $50,000, or you cannot pay the full balance within 72 months, then along with the installment agreement request you must submit a F. 433 Collection Information Statement, and disclose all your assets of any kind, all sources of income, all expenses, together with documentation to substantiate the same. 2) Offer-in-compromise (OIC): Offer to settle the amount due for less than you owe. Even if you qualify, OIC’s can be very difficult to get the IRS to accept. An OIC may be a good option if you have an irreversible health condition that hinders your ability to earn income. 3) Currently-not-collectible (CNC) Status: Low income earners may qualify for currently-not-collectible status. If you are on CNC status, the IRS will cease all collection actions against you. Note: The IRS monitors the income reported on your tax return and may remove you from CNC status if your income increases in the future. Each of these options have their own nuances and implications. Our role is to help you choose the path with the greatest chance of success and that aligns with your goals and financial situation.