My guest blogger today is Dagny Kight.  She just completed a step-by-step guide to help people through the process of determining on their own if they can settle their tax debt for a lower amount.

Will the IRS lower your tax debt through “negotiation”? Tax resolution firms would like you to believe they can talk the IRS down on your behalf.

But the IRS likes to talk about just two things: Dollars and cents.

Under new IRS guidelines introduced in 2011, the IRS has a program that is designed to calculate your ability to pay your back tax debt. There is no “negotiation.” The forms for this program will take you through a detailed Financial Disclosure, documenting your income, expenses, assets, and debts. No matter how you ultimately settle your IRS tax debt, you will have to provide a full financial disclosure. This will involve gathering up all your bank and account statements, documentation for all your sources of income, monthly bills, loans, mortgage or lease paperwork, and even documentation for the market value of your assets including vehicles and valuables.

When I settled my own IRS debt for $1, I worked directly with the IRS examiners themselves. They weren’t intimidating; they were actually a pleasure to deal with! They told me what information they wanted and how they wanted it sent in with the IRS forms. I put everything I learned into my ebook, Lower Your IRS Debt with step by step, easy to follow instructions based on my own successful experience with this IRS program.

I owed $42, 564.25 but I settled for $1! Start gathering up your financial paperwork and grab a calculator. Follow along with my ebook to fill out the forms for yourself and find out if YOU could Lower Your IRS Debt!

Daniel Stoica Accounting Professional