Yes, you can get your tax debt waived to some extent with the help of the IRS (Internal Revenue Service). An OIC (Offer In Compromise) is offered by the IRS to help the debtor pay his tax debts. An OIC is another form of an IRS payment plan where the IRS allows you to pay an amount of tax that is actually less than the original amount that you owe. A few of the facts of the debtors are looked upon and considered prior to giving them benefits like OIC. Some facts that are considered or looked up to are the ability of the debtor to pay, his/her income, and expenses. Also, the IRS might look upon all the assets, the taxpayer has or owns including property and cash.