Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors’ opinions or evaluations.
Many Americans struggle to pay off back taxes. According to the latest IRS data, taxpayers owed more than $133 billion to the tax agency last September, at the end of the government’s 2021 fiscal year.
But if you’re among the millions who are in debt to the IRS, you might be able to get a break—through tax relief. Here’s what you need to know about the relief that’s available when you’re having trouble paying a tax bill.
Featured Tax Software Partners
Federal Filing Fee
$49.95
What Is Tax Relief?
Tax relief is a catch-all term for the government programs or policies that help taxpayers reduce their tax burden.
In the broadest sense, tax relief may include tax deductions, credits or exclusions that can lower your tax bill. There’s also special tax relief, often extended to Americans devastated by natural disasters.
“Several other types of tax relief allow people to settle tax debts in manageable ways,” says Alton Bell II, founder of Bell Tax Accountants & Advisors in Chicago.
His firm helps win relief for clients who may be overwhelmed by the back taxes they owe.
How Does Tax Relief Work?
Tax relief programs vary by the amount of tax debt owed and the taxpayer’s ability to pay, says Bell.
“There is not a one-size-fits-all program that is best for each taxpayer’s situation,”…
