If you don't qualify for the IRS Offer In Compromise program, a Payment Plan with the IRS may be the way to resolve your problem. Setting up a payment plan with the IRS gives you a little more time to pay off your tax debts. Recently, the IRS doubled the length of time they will give you to make payments under their automatic approval program for certain taxpayers.
Unfortunately, penalties and interest will continue to be charged on your outstanding balance as you pay the debt off. You are required by law to pay the interest on your tax debt. The good news is that with interest rates at record lows right now on traditional loans, the IRS has reduced their interest rates as well. Setting up a payment plan with the IRS is usually better than taking out a loan or using your credit card to pay down your IRS tax debt.