Installment Agreement
The IRS’s payment plan program
Offer in Compromise
The IRS’s hardship-based settlement program
Currently Not Collectible
The IRS’s hardship program
Revenue Officer
An individual agent assigned to enforce maximum collection
Payroll Tax
Federal taxes associated with paying wages
Levies & Garnishments
A seizure of funds by the IRS
Liens
A public record of the IRS’s interest in property
Penalties & Interest
The cost of owing money to
the IRS
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