If you have recently been audited only to discover that you owe a substantial amount in back taxes then don't worry. The thought may be going through your mind that you will never be able to pay such an amount, and you are not the only one in this predicament. There are millions more like you finding out the same thing.
Since the IRS knows that there is no way that some individuals will be able to pay the whole amount, they are making allowances for extreme situations. If you make an application to settle with a reasonable offer to the IRS, they just might make an agreement with you to forgive parts of the debt. In some cases, they may forgive the whole amount depending on how high it is and what your wages are. There are some families that are just barely scraping through that wouldn't be able to pay anything.
If you are interested in doing this, you can file the application or you can hire a lawyer or financial agent to do the work for you. Giving accurate information backed by various documents is important. If the IRS believes that you are hiding something, they will do a lot more digging which usually isn't very pleasant.
To find more information, you can search the web for details. There are a whole lot of opinions out there so anything that you read that doesn't look official, probably isn't.
Also, don't be fooled by those scam agencies that offer you full debt forgiveness for only a few cents. You know that would be unrealistic. In other words, when searching, be wise. If it looks too good to be true, it is.
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