IRS Payment Plan vs OIC with $35k debt - Need advice while living paycheck to paycheck with 4 kids

Tax pro here. Both options are possible but OIC is harder to qualify for. For a payment plan, you can setup online if you owe less than 50k. Monthly payments could be as low as $25-50 depending on your financial situation. For OIC, you'll need to prove significant financial hardship - they look at income, expenses, assets, everything. Form 433-A is brutal but necessary.

Hey, have you tried taxr.ai? It helped me figure out my exact options based on my situation. Cost me $4.99 but saved me hours of research and probably thousands in the long run. It analyzes everything and tells you exactly what you qualify for - https://taxr.ai

im in the same boat fam... 42k debt here 😭 got on a payment plan last month, $175/month. Process wasnt as bad as I thought tbh

Get. A. Tax. Professional. 👏 Don't 👏 DIY 👏 This 👏 Srsly tho, worth every penny to have someone who knows what their doing

Whatever u do dont ignore it! My cousin did that and ended up owing waaaaay more bc of penalties n interest 💀

Bruh the IRS financial form is straight garbage. They wanted me to list every penny I spent in the last 3 months like im sum kind of accountant 🤡