While officials from the Internal Revenue Service are often characterized as evil people, those who have successfully worked with them and received IRS debt relief will say their reputation has no basis in fact. The job of the IRS is to collect taxes from individuals and businesses so the country has operating capital. There are some who simply do not comply with IRS laws and regulations and others that financially are unable to do so. For those that fail to pay their taxes and fall out of favor with the government agency, their home, income and property can be seized unless they can work out some type of tax debt relief with the government.
Every year, millions of people are faced with difficult financial situations, which could mean not paying taxes. Then, you have individuals that feel they do not owe the government anything so they simply refuse to pay. Instead of ignoring the problem, it is important for people to know that IRS debt relief is an option offered by the government to get the issue of past due taxes resolved in a fair and quick manner.
Instead of struggling and feeling defeated, you want to find an IRS debt relief solution that would help you in your specific situation. One such option is known as the Debt Assistance program, which is to help people that owe the government taxes. If you accept this program, then you never have to worry about being hounded by debt collection agencies. Another advantage of using this IRS program is that if any part of the debt you owe has to do with your home going through refinance, then some of the original loans principal balance would be modified.
To get started, you will need to find a professional that understands the IRS and tax laws. Typically, an accountant or financial advisor would be able to offer assistance. Sitting down, this person would look over your situation and then determine the type of offer for compromise that would benefit you best. The outcome would be holding onto your property or car, as well as not having your checking or saving account frozen.
Accepted Offers Often Below Level Of Debt
On average, nearly half of all offers in compromise made to the Internal Revenue Service are accepted and of those, the average tax paid was between three and 80 percent of what was owed. Tax experts, including many former IRS agents work together with taxpayers on tax debt relief to help formulate what they believe is a fair settlement offer in compromise to get the IRS off their case.
Together, your situation would be examined so a realistic compromise could be identified. The effort is worth it in that not doing anything could put your home, car, and even bank accounts at risk. Obviously, you do not want to have your bank accounts locked, blocking you from your money, which could happen if debt relief is not achieved. Therefore, a financial advisor or accountant with appropriate knowledge could make a huge difference in the way your taxes to the IRS are resolved.
The professional you work with would start by looking at your debt and income status. Then, he or she would determine where the taxes are owed and the amount owed. Next, it would be researched to see if penalties are involved and if they are, the amount of the penalties could be added onto the amount of back taxes. Instead of complicated formulas being devised, the government has a computer system in place that would handle all the calculations for you.
If you want to get tax debt relief, you need to contact and then stay in touch with an IRS agent but as you do this, also spend time talking to accountants and financial experts to determine all options. Since each professional works slightly different, it would be worth looking into several solutions to get the best deal possible. For instance, some lawyers will work on debt relief solutions without charging anything, which would help in the amount that ends up being paid.
Every year, millions of people are faced with difficult financial situations, which could mean not paying taxes. Then, you have individuals that feel they do not owe the government anything so they simply refuse to pay. Instead of ignoring the problem, it is important for people to know that IRS debt relief is an option offered by the government to get the issue of past due taxes resolved in a fair and quick manner.
Instead of struggling and feeling defeated, you want to find an IRS debt relief solution that would help you in your specific situation. One such option is known as the Debt Assistance program, which is to help people that owe the government taxes. If you accept this program, then you never have to worry about being hounded by debt collection agencies. Another advantage of using this IRS program is that if any part of the debt you owe has to do with your home going through refinance, then some of the original loans principal balance would be modified.
To get started, you will need to find a professional that understands the IRS and tax laws. Typically, an accountant or financial advisor would be able to offer assistance. Sitting down, this person would look over your situation and then determine the type of offer for compromise that would benefit you best. The outcome would be holding onto your property or car, as well as not having your checking or saving account frozen.
Accepted Offers Often Below Level Of Debt
On average, nearly half of all offers in compromise made to the Internal Revenue Service are accepted and of those, the average tax paid was between three and 80 percent of what was owed. Tax experts, including many former IRS agents work together with taxpayers on tax debt relief to help formulate what they believe is a fair settlement offer in compromise to get the IRS off their case.
Together, your situation would be examined so a realistic compromise could be identified. The effort is worth it in that not doing anything could put your home, car, and even bank accounts at risk. Obviously, you do not want to have your bank accounts locked, blocking you from your money, which could happen if debt relief is not achieved. Therefore, a financial advisor or accountant with appropriate knowledge could make a huge difference in the way your taxes to the IRS are resolved.
The professional you work with would start by looking at your debt and income status. Then, he or she would determine where the taxes are owed and the amount owed. Next, it would be researched to see if penalties are involved and if they are, the amount of the penalties could be added onto the amount of back taxes. Instead of complicated formulas being devised, the government has a computer system in place that would handle all the calculations for you.
If you want to get tax debt relief, you need to contact and then stay in touch with an IRS agent but as you do this, also spend time talking to accountants and financial experts to determine all options. Since each professional works slightly different, it would be worth looking into several solutions to get the best deal possible. For instance, some lawyers will work on debt relief solutions without charging anything, which would help in the amount that ends up being paid.
SHARE
