The Best Way To Resolve IRS Tax Problems

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Tax Resolution

Many US citizens are steeped in a mire of tax debt right now. Times have been hard and sometimes taxes had to be the last item on the priority list, or were dropped right off it. Interest and late payment penalties have mounted up.

Meanwhile the IRS doesn't let up, and things can turn nasty. If a tax lien is filed, it will go onto the person's credit record and make life even more difficult. The IRS can even use a bank levy, freezing bank accounts and collecting funds from them. Or it can employ a wage garnishment and collect a significant proportion of an employee's pay check.

Tax Specialists Resolve IRS Disputes

If a business owner or an employer has not properly complied with payroll tax regulations for whatever reason, the IRS can legally seize assets of the business or its owners. The results can be catastrophic for both employers and employees, who could find themselves jobless and without an income.

However, no-one needs to continue feeling alone and desperate in a struggle to deal with the IRS. Help is at hand in the form of caring tax relief specialists, including attorneys and ex-IRS agents. They stand up for the rights of the individual and assist in getting immediate tax relief.

These professionals look at all the circumstances before they act as the intermediary with the IRS. They understand what is legally possible and will negotiate terms of payment that are manageable.

Typically, Internal Revenue Service (IRS) debt isn't due to negligence or refusal to pay taxes, but comes from errors, misunderstandings or hardship.

If you are a taxpayer who owes the federal government money, you can represent yourself before the IRS; however, you might find the experience mind boggling and intimidating. Another option is to hire a tax attorney to help you negotiate with the IRS on your behalf.

5 Tax Solutions Offered By The Internal Revenue Service.

Apply for an Installment Agreement

According to Publication 594, The Collection Process, from the IRS, if you cannot pay all your taxes, you may be eligible for an installment agreement. This type of tax relief allows you to work out a deal with the IRS to pay the total tax debt, including the interest and penalty charges, on a monthly installment basis. You have up to 10 years to pay.


Temporarily Delay Payment Due to Hardship

If based on the government's assessment you cannot pay any of your tax debt, they may temporarily delay collection until your financial condition improves. However, once you are able to pay, you will be obligated to do so. Along with the amount owed will be any penalties and interest accrued during the period of non-payment. In addition, during the non-payment period the IRS may continue to monitor your ability to pay.


Seek an Offer in Compromise

If due to your current financial situation, you are unable to pay your taxes in a lump sum or through an installment plan and you have no other options, you may be eligible for an offer in compromise (OIC).

An OIC allows you to reduce your tax debt from the amount actually owed by offering an alternative amount you can pay. The IRS may agree to this "financial compromise" on a tax liability if there is a doubt about the liability, a doubt as to its collectability or due an economic hardship or other special circumstances.


Request Innocent Spouse Relief

Generally, both you and your spouse are responsible for paying any tax, interest, or penalties due on your joint return. However, in some cases a spouse (or former spouse) may be relieved of liability on a joint return. If you believe you should not be held responsible for any joint liability, file a claim for innocent spouse relief.

Paying federal taxes is an obligation – one that sometimes can be tough to meet. However, there are options that can help you find your way out of the black hole of tax debt. Before you give up, check out these five tax-relief strategies.


Currently Not Collectible Status

In some cases the status of Currently Not Collectible may be the best option, so the tax relief professional will pursue that avenue. If this is successful, the IRS will not continue with aggressive collection tactics until the debtor's circumstances change. If the end of the statute of limitations' 10 year period is reached, the debt will never be collected.

Things to keep in mind

It is very rare for individuals to be able to achieve any of this by dealing with the IRS themselves, so it is really important to get professional help.

Finding the right specialist can sometimes be a problem, but Google or another search engine can help. Organizations have set up web sites to connect people in trouble over tax debt with experts who can help them, freeing them from the stress and often saving them thousands of dollars.

If you have received a tax collection letter, or have any other tax debt problems, you need to take action right away. Find a tax relief specialist to deal with the IRS on your behalf. It will be worth it.