Thirty-eight percent of U.S. adults who earn less than $100,000 annually said paying off debt was their New Year’s resolution for 2026, according to a survey performed last year by Ipsos for Wells Fargo.
One form of debt hanging over some Americans is tax debt. But the tools for settling that differ from other forms of debt. For example, debt settlement companies can help some people negotiate with their creditors, but most don’t work with tax debt.
However, there are other options: Tax relief companies work with the IRS or your state revenue department to reduce or eliminate your tax liability, arrange installment plans and end garnishments and liens.
The Federal Trade Commission encourages taxpayers to try to work out a plan on their…