What is the name of your state? NY My husband offer IRS 9,000 to settle a tax debt. IRS came back and said we could pay 400 a month for 40 months(remaining time in the 10 year collection period). We never agreed to this. In the meantime husband lost job. We know he will never get another job that pays as well (after 10 yrs he was #2 from top)Our new income may/maynot just cover our expenses. If we wait out the remaining 40 months does IRS have to just go away and not get anything?