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IRS.gov Website

Frequently Asked Tax Questions

IRS Procedures - Collection Procedural Questions

  1. I am unable to pay my delinquent taxes. Will the IRS accept an offer in compromise?
  2. Will I be charged interest and penalties for filing and paying my taxes late?

Rev. date: 03/12/2015

I am unable to pay my delinquent taxes. Will the IRS accept an offer in compromise?

You may qualify for an offer in compromise (OIC) if you are unable to pay your taxes in full, are facing economic hardship or other special circumstances. Refer to Tax Topic 204 - Offers in Compromise, for more information.
The following details the application process and the items you need for consideration of your application:
If your application is rejected and you are unable to pay your delinquent taxes in full at the time, you may still be eligible for an installment agreement. Refer to Tax Topic 202 - Tax Payment Options, for more information on paying in installments, user fees, etc.

Rev. date: 03/12/2015

Will I be charged interest and penalties for filing and paying my taxes late?

Yes, when you do not file and pay your taxes on time, you will be charged interest on any unpaid balance, and you may also be subject to penalties, such as the failure-to-file and failure-to-pay penalties.
Interest charged on any unpaid tax compounds daily from the due date of the return (without regard to any extension of time to file) until the date of payment.
If you did not pay your tax on time, you will generally have to pay a late-payment penalty, which is also called a failure-to-pay penalty.
If you did not file on time and owe tax, you may owe an additional penalty for failure to file on time unless you can show reasonable cause for filing late.
Note: If you feel a penalty or interest has been assessed in error, you may refer to Publication 1 (.pdf), Your Rights as a Taxpayer.