The IRS collected trillions in taxes last year, yet many Americans remain behind on payments due to financial hardships like job loss or medical emergencies. The agency offers programs such as Currently Not Collectible status and Offer in Compromise, which can pause collection efforts or reduce tax debt for those who qualify based on strict hardship criteria. Additionally, penalty abatement options exist for first-time offenders or those with reasonable causes for late payments. Seeking professional tax relief assistance can improve the chances of successfully navigating these complex programs.
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