If you’ve fallen behind on your taxes, you’re not alone. It’s a common mistake that can have serious consequences, including an IRS or state tax authorities’ audit. While most people file their tax returns on time and pay what they owe, others run into difficulties with their finances or procrastinate when it comes to filing. When this happens, the IRS typically won’t let it slide—and if you don’t take care of your tax debt right away, they may come after you with interest charges and penalties that make matters worse. If you’re facing a tax debt crisis and looking for help managing it, this guide can help!
Tax debt agencies offer professional assistance to help taxpayers deal with their tax debt issues.
Tax debt agencies are the best way for you to deal with IRS tax debt and other similar problems involving income tax returns, state income taxes, and employment taxes.
They have a range of experience dealing with IRS audits, garnishments, levies, and more. Their experts will be able to navigate through these complicated processes while also protecting your interests as a taxpayer. They can provide valuable tax advice in avoiding future issues and work with the IRS or state collection agency on your behalf to know precisely what steps they must take to resolve any outstanding debts that may remain after initial negotiations.
Tax debt relief firms are comprised of tax attorneys, enrolled agents, and tax resolution specialists who can help you find a solution for your IRS tax problems.
When choosing an attorney to represent you in court or work with on an agreed-upon payment plan with the IRS, make sure they have experience dealing with the IRS.
Tax resolutions agencies are comprised of tax attorneys, enrolled agents, and tax resolution specialists who can help you find a solution for your IRS tax problems. For example, if you have an outstanding balance with the IRS or need to pay taxes on a business or personal return that isn’t filed yet, a tax debt agency may be able to negotiate with the IRS and resolve your debt issues.
However, keep in mind that not all tax relief companies are created equal. When searching for a reputable company for guidance through an IRS audit or negotiating payment plans, it’s essential to research each company to know what kind of services they offer and how much experience they have dealing with the IRS.
Here are some questions to consider when researching any potential tax relief program:
- What credentials does their team have? Do they have licenses? Are they certified by professional organizations? Is there background information available online about their experience?
- How long has this business been around? Were there any complaints made against them recently? What is the average cost per client served by this agency over time? Does this agency provide any guarantees regarding results or satisfaction levels among clients served within specific time frames (e.g., 60 days)? Remember: higher costs don’t necessarily mean better service!
Tax debt agencies can assist with the following:
- IRS audit representation
- IRS garnishment release
- IRS levy release
- Installment agreement application (including Offer in Compromise)
- Offset requests for past due taxes, student loans, and other debts.
In addition to your existing debts from the list above, you will be charged fees for every service provided by a tax debt agency. You’ll have to pay for their time and expertise as well as any court costs that may arise while negotiating your debt with the government.
IRS audit representation
If you’re facing an IRS audit, you can choose to represent yourself or hire an attorney or tax resolution specialist. You might also consider the services of a tax debt agency. As we’ve discussed, these companies offer representation at no cost if they recover money on your behalf after the IRS dispute is resolved.
You should be aware that hiring someone else often requires paying them fees upfront. If you do so and fail to reach an agreement with the IRS, they may keep all of their money—which means no refund for you!
IRS Garnishment Release
The IRS can collect your wages or bank accounts when you owe taxes.
Garnishment works by taking a portion of your wages or money from your bank account to pay off what you owe. Because living on a limited income is often difficult, most people subject to IRS garnishment choose to release their tax debts through this process rather than paying them back gradually.
If you’re being garnished by the IRS and want to get out from under that burden as quickly as possible, contact an agency specializing in helping taxpayers resolve all kinds of tax debt issues. These agencies will work with the IRS on your behalf and will ensure that they stop collecting immediately once all outstanding debts have been satisfied or released.
IRS Levy Release
A levy is a legal seizure of property by the IRS. It’s granted when the taxpayer cannot pay their tax liability and has no other way to satisfy it. The IRS will enforce a levy if it believes that the taxpayer has sufficient assets to cover their debt, otherwise known as an “Offer in Compromise.”
If you are concerned about your assets, such as real estate and vehicles being seized by the IRS, contact us at [your name] today!
Installment Agreement Application
An installment agreement is a payment arrangement between you and the IRS that allows you to pay your tax debt in monthly payments. You can pay more than the minimum value each month by choosing a percentage of your income. If you are eligible for an installment agreement, it’s crucial to understand how much money each month is due and what happens if you fall behind on payments.
Offer in Compromise Application
A tax debt offer in compromise (OIC) is a payment plan for tax debt. It’s a good option for people who can’t pay their total tax debt owed to the IRS, state, or other agencies.
An OIC permits you to settle your tax debt for less than what you owe by offering a lump-sum payment or an installment plan. You can also contribute to paying some of your total outstanding balance as part of this agreement if you don’t have enough money to pay it all at once. The IRS has strict guidelines regarding how much they will accept from taxpayers as part of an OIC, so be sure to check those out before making any offers on your terms!
Penalty Abatement Request
Penalty abatement requests are generally granted in cases where the taxpayer can prove that they had no knowledge of the tax owing and was not at fault. The IRS can make these requests, but it is often considered a better option for you to send a written request for penalty abatement yourself.
Penalties have been waived when taxpayers have experienced hardship or circumstances beyond their control (such as death, injury, or natural disaster).
Tax debt relief is available, and it’s a good idea to work with professionals when faced with tax problems.
If you’re facing tax debt, the good news is that there are many different options for handling your case. Tax debt relief is available, and it’s a good idea to work with professionals when faced with tax problems. Tax relief is available from tax debt agencies, as well as from attorneys and other professionals who specialize in helping people deal with IRS and state debts.
The best way to approach tax debt relief firms is with an open mind and a better understanding of tax debt agencies. It’s important to know what’s going on with your debt, but it’s also good to remember that these companies can help you get back on track with your finances. They work for taxpayers and the IRS by assisting them in resolving as fast as possible—and sometimes even quicker than if they worked directly with us!
Contact us today and get the ball rolling on getting rid of your debt so that it doesn’t keep growing bigger and bigger.