If a taxpayer has insufficient financial means to pay a deficiency, the IRS may accept the taxpayer's offer in compromise to settle the deficiency for a lesser amount.

Name: If a taxpayer has insufficient financial means to pay a deficiency, the IRS may accept the taxpayer's offer in compromise to settle the deficiency for a lesser amount.
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When a taxpayer cannot pay the full amount owed, the IRS may accept an offer in compromise to settle for a reduced amount based on the taxpayer's ability to pay.

If a Taxpayer Has Insufficient Financial Means to Pay a Deficiency