Full pay all liabilities.	That's easy, if you have the money.
Borrow the money to full all tax, penalty and interest.	You're paying a lot, when you may be able to pay less.
Sell your assets to full pay.	Then what will you have left?
Bankruptcy	Not all taxes are dischargable and your credit is shot.
Currently-Not-Collectible	You still owe all of the tax, penalty and interest and you get deeper in debt.
Make installment payments to full pay.	You're paying a lot, when you may be able to pay less!
Submit an Offer-In-Compromise	This will definitely save you money and that's what we're here for!

According to the IRS, "An Offer-In-Compromise is an agreement between a taxpayer and the IRS that resolves the taxpayer's tax liability.  Under certain circumstances, the IRS has the authority to settle, or compromise, federal tax liabilities by accepting less than full payment."

Now that sounds like a better plan.