One economic effect of the COVID-19 pandemic has been mounting unpaid tax.

“The IRS understands that many taxpayers face challenges, and we’re working hard to help people facing issues paying their tax bills,” said IRS Commissioner Chuck Rettig. To make it easier for taxpayers to settle their IRS tax debts, the agency has made some changes.

They include the availability of short-term payment plans and installment agreements for taxpayers owing $50,000 or less in combined taxes, penalties and interest, or businesses that owe $25,000 or less, combined. Other possibilities for help include delayed collection, offers in compromise and penalty relief. Here are the details: https://bit.ly/3ejSyeU