tax settlement
Debt payment agreement
A tax settlement is an agreement between a taxpayer and tax authority to resolve a dispute over taxes owed, typically for less than the full amount claimed.
The taxpayer accepts responsibility for some portion while the authority agrees not to pursue the rest: After months of negotiation, they reached a tax settlement for sixty cents on the dollar.
Companies advertising tax settlement services promise to negotiate with the IRS on behalf of people with large outstanding debts.
- paymentFulfilling a financial obligation
- IRSFederal tax collector
- debtMoney owed another
- negotiationDiscussion seeking mutual accord
- compromiseAgreement through mutual sacrifice
payment plan · refund · audit · liability · resolution · agreement · relief · penalty · installment · installment agreement · lien · owed · accountant · filing · deadline · forgiveness · balance · collection
tax settlementtax evasion
Illegally avoiding government dues
tax fraud · tax avoidance · tax compliance · tax resistance · full disclosure
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