If tax debt is a current issue you're facing, a tax workout is a solution to consider. Otherwise known as "offers in compromise," tax workouts allow individuals to work with the Internal Revenue Service through their tax relief attorney. The attorney will assist in reaching a deal with the IRS. In many cases, only a portion of the tax debt must be repaid. Keep in mind that bankruptcy cannot wipe out debts owed to taxing authorities. Therefore, completing a tax workout will allow you to find a manageable repayment program and help avoid the prospect of bankruptcy.