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How Can You Get Tax Relief?
If you are like many individuals and businesses who owe the IRS back taxes you may not be aware of the legal tax relief rights and options available to you. These tax relief remedies that you are entitled to under the law can help get you IRS Tax Relief and quite possibly save you thousands of dollars as well.The good news is, whether or not you have received an IRS notice, or are currently facing IRS action, you don't have to wait to get tax relief. It's your right to get relief through any of a number of IRS tax relief programs that may apply to your current circumstances – including offer in compromise, installment agreements, penalty abatement, innocent spouse provision, currently not collectable, tax appeals, or even payroll tax relief. See the definitions below.
What if I Cannot Afford to Pay the IRS?
People oftentimes receive IRS collection notices and become so stressed that they are paralyzed by fear and take no action at all – hoping that IRS notices and threats will subside. Unfortunately, this is rarely the case. Once the IRS begins pursuing taxpayers, there is a predictable and chilling chain of events that occurs if taxpayers do not respond. This can quickly lead to wage garnishment, tax liens, or even a levy on your personal or business bank account. If you are facing, or losing hope about IRS actions, don't despair.
The good news is, even if you have already experienced a tax lien, levy, or garnishment – your current circumstances may allow you to get legal tax relief that, can not only remove IRS tax stress, but possibly save you a substantial amount of money as well.
Why Would the IRS Settle with Me for Much Less Than I Owe?
When taxpayers fall behind or fail to pay the IRS taxes, there are many reasons why the IRS may agree to settle for much less. In many cases, late fees and penalties have accumulated so high that it is highly unlikely that the taxpayer can ever repay the full amount owed. Or, through an innocent spouse situation, it may be that the taxes owed are not the fault of both spouses. The IRS may understand, after looking at a person's financial situation, that they have little chance to collect the full amount that has been assessed and then settle for far less.
In addition, the IRS has offer in compromise programs, installment agreements, and tax penalty abatement programs that all recognize the fact that many taxpayers are going through very difficult circumstances – and the IRS understands it needs to offer taxpayers the opportunity to pay what they can afford, while still allowing the taxpayer to have enough money to survive.
How Does Your Free Tax Consultation Work?
If you are like many taxpayers who are facing IRS enforcement actions such as wage garnishment, tax liens, or bank account levy – you may not be aware that out top rated tax resolution firms have the experience and tax negotiation expertise to, not only get the IRS off your back, but possibly save you thousands of dollars as well.
With our free tax relief consultation, our tax resolution firms listen to your current situation, ask you how much the IRS claims that you owe and then work on your behalf to come up with a strategy to negotiate the best possible tax resolution with the IRS. While there are a variety of tax relief remedies available, it is important to have experienced tax relief specialists on your side who understand how to best apply current tax relief code to meet your current financial situation and needs.
How Much Could Tax Relief Save You?
Are you in a situation where the IRS may feel it has little or no chance to collect the full amount owed? This plays a big part in how much you could save through a potential settlement with the IRS. The important thing is to get experienced tax resolution firms on your side that will negotiate with the IRS on your behalf to arrive at the best possible settlement.
Common Tax Relief Options
1.) Offer in Compromise
An Offer in Compromise is a very favorable tax relief solution for taxpayers. We can connect you to tax lawyers and tax specialists who will work with you to customize an offer in compromise, whereby the IRS agrees to settle your overall tax debt for less than the amount that you owe.
2.) Installment Agreement
If an offer in compromise is not a workable tax relief solution an installment agreement with the IRS is oftentimes an excellent option. Through this agreement the IRS will stop collection efforts and action against you as long as you adhere to a negotiated monthly payment schedule.
3.) Penalty Abatement
Tax penalties and interest on delinquent taxes can escalate and get out of control very quickly. It's important, if at all possible, to get penalties and interest removed so that tax debt can be erased in the fastest time possible.
4.) Currently Not Collectible
In many instances the IRS will stop collection efforts temporarily if it feels that the taxpayer simply doesn't have the ability to pay. There could be illness in the family, a loss of a job, or very little in terms of property or assets for the IRS to pursue.
5.) Payroll Taxes
The IRS requires that companies withhold payroll taxes on behalf of its employees. When companies fail to do this, the IRS may take very aggressive action against companies or even the officers of a company - including a bank levy whereby the funds in a bank account may be seized as an enforcement action.
6.) Innocent Spouse
When couples file joint tax returns and the amount of taxes owed is not correctly stated by one of the spouses, the other spouse signing the tax return may be considered an "innocent spouse" in that that spouse may not have knowledge of the understatement and thus may be eligible for a measure of tax relief.
7.) Tax Appeals
When a taxpayer believes that the decision of the IRS is not just, he IRS Appeals Division may reconsider your case. Experienced and successful tax resolution specialists and tax attorneys can coordinate this tax appeal on your behalf.
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