You generally do not need to pay a great deal of money to fix your IRS debt problems. If someone is telling you your resolution fee is more than $500 they are taking advantage of you!!!
Big companies put together packages to sell you for your IRS debt situation. Then, they overcharge their services (tax preparation etc…) and provide you with poor customer service.
Here we are helping you avoid the worst case scenario and we do not charge you un-necessary fees. In other words, we don’t take the money you should be paying to the IRS.
We will guide you and we will show you how to properly handle your problems with the IRS. If you need representation…we will be honest and let you know. In most situations there is no need to pay high costs to an attorney.
We will analyze your situation so we can tell you how to best fix your problem yourself. So you save your money to pay back the IRS…you can’t go wrong!
If anyone is telling you that they can lower your debt BEWARE. Generally you must get into a payment resolution with the IRS.
If it sounds too good to be true…it usually is.
If you’re looking for a fair & reasonable fee for your IRS problems…Call US Today!!!
Tax Debt Settlement - How To Settle With the IRS
There are different methods you can pursue if you have tax debt and cannot qualify for a payment plan. The IRS does realize there are certain circumstances where individuals should not be held liable for some of or all of their taxes owed.
Offer in Compromise
When people talk about settling tax debt for pennies on the dollar, this is how it is done. An offer in compromise is not for everyone. The IRS has strict qualifications for accepting people's offers and they do not make the filing easy. The IRS will only accept an offer in compromise if they feel that your offer is equal to or greater than the amount they would ever collect from you, even if they used forced collection mechanisms.
Penalty abatement is a way individuals can get the IRS to forgive certain penalties that have been charged on their tax debt. This is a very common method for settling taxes for less than is owed. In fact, about one third of all penalties assessed by the IRS are abated at a later date.
Partial Payment Installment Agreement
A Partial Payment Installment Agreement is similar to a normal Installment Agreement in the sense you are paying the IRS taxes you over a period of time. It is different because you end up paying less than the total amount you owe due to the fact that as the Statue of Collection reaches expiration on each period of your tax debt, a portion of your debt falls off, which you no longer are responsible for. This is why this is considered a form of tax settlement.
Innocent Spouse Relief
Innocent spouse relief is only available to those taxpayers that have filed jointly for the year they seek relief. When individuals file a joint tax return, each spouse is equally liable for all tax, penalties and interest that come about from that particular year. The IRS created innocent spouse relief because it realizes that there are times that it would be unfair to hold a spouse liable for the tax liability that was created during the joint filing.
IRS Tax Bankruptcy
Bankruptcy can be considered a form of tax settlement if you qualify for Chapter 7. In some cases, with Chapter 13, tax debts can be forgiven but normally Chapter 13 requires you to pay taxes in full through the use of a payment plan. Bankruptcy is not the best option as your credit will be severely impacted (more than other options) and you may have to liquidate assets.
Tax Debt Settlement Services
If you would like to settle IRS and/or state taxes a tax relief company can analyze your financial situation and find which tax settlement method would work best for your particular tax situation. There are many different forms of settlements and it is important to get a professional opinion before selecting which one is best for you.