Some Advice On Getting Tax Debt Relief
Currently I work in an office that helps taxpayers that get into trouble with the IRS.
I'm the person that is responsible for filing out those tax returns that were the culprits of the action taken by the IRS and got the taxpayer into trouble.
Amazingly I find that many taxpayers wait until the IRS levy's their account before getting help for their tax problems.
Many would have owed very little if they had filed on time and other might have even gotten a refund.
What got them into that situation varies.
Some had some life event such as a large income change or divorce, while others simply did not file their returns for no reason at all.
Fortunately, there is help for them and you, no matter what made you get into that situation.
But seeking professional help is advisable.
The tax code is very complex and dealing with the IRS is no simple matter either.
If your income has dropped substantially and you have very few assets you can get a quick "uncollectable status" ruling from the IRS were collections will cease until a permanent solution is reached.
To get this you must demonstrate that you currently neither have the income nor assets to be able to pay.
This is not vey complex and allows you to the seek a an "offer in compromise" were you make an offer for a lower amount then you owe to the IRS as payment in full.
The filing requirements are rigorous and so is the scrutiny from the IRS to accept your offer.
This is made much easier when a seasoned firm that has handled thousands of similar cases those this for you.
In order for you to be able to take this route the IRS requires that your filing with them be current, or they will not consider your case.
You must also pay a $150 fee and 20% of the amount you are offering to negotiate for.
If you have some assets or steady income and you owe back taxes you can always negotiate an installment plan with the IRS.
The amount that they will agree to will be based on your current income and related expenses.
Again, this is not complicated, however, it is best to use an experienced firm to get the best payment plan for you.
How you go into your tax trouble is not the issue.
The important thing is to take acting to either stop a levy of your accounts or get a release of the current levy placed on them.
Also the penalties and interest will keep mounting up until you resolve your matter.
This may sound complicated, however, these situations are challenging but more routine than you may imagine.
It is important to ally yourself with a solid tax debt relief company that can negotiate the best deal in your circumstances.
I'm the person that is responsible for filing out those tax returns that were the culprits of the action taken by the IRS and got the taxpayer into trouble.
Amazingly I find that many taxpayers wait until the IRS levy's their account before getting help for their tax problems.
Many would have owed very little if they had filed on time and other might have even gotten a refund.
What got them into that situation varies.
Some had some life event such as a large income change or divorce, while others simply did not file their returns for no reason at all.
Fortunately, there is help for them and you, no matter what made you get into that situation.
But seeking professional help is advisable.
The tax code is very complex and dealing with the IRS is no simple matter either.
If your income has dropped substantially and you have very few assets you can get a quick "uncollectable status" ruling from the IRS were collections will cease until a permanent solution is reached.
To get this you must demonstrate that you currently neither have the income nor assets to be able to pay.
This is not vey complex and allows you to the seek a an "offer in compromise" were you make an offer for a lower amount then you owe to the IRS as payment in full.
The filing requirements are rigorous and so is the scrutiny from the IRS to accept your offer.
This is made much easier when a seasoned firm that has handled thousands of similar cases those this for you.
In order for you to be able to take this route the IRS requires that your filing with them be current, or they will not consider your case.
You must also pay a $150 fee and 20% of the amount you are offering to negotiate for.
If you have some assets or steady income and you owe back taxes you can always negotiate an installment plan with the IRS.
The amount that they will agree to will be based on your current income and related expenses.
Again, this is not complicated, however, it is best to use an experienced firm to get the best payment plan for you.
How you go into your tax trouble is not the issue.
The important thing is to take acting to either stop a levy of your accounts or get a release of the current levy placed on them.
Also the penalties and interest will keep mounting up until you resolve your matter.
This may sound complicated, however, these situations are challenging but more routine than you may imagine.
It is important to ally yourself with a solid tax debt relief company that can negotiate the best deal in your circumstances.
Source...