Because of the recent economic downturn, we have found that many people are unable to pay even the minimum required towards their tax debt. When you have a tax debt that you cannot afford to pay, penalties and interest begin to add up quickly, and if left unpaid, forced collection action such as wage garnishments and bank levies will follow. If you are an individual or business with a crushing tax burden, our firm can help you take advantage of an array of IRS payment options that could allow you to repay the debt in time and/or resolve the tax debt altogether.
This IRS plan structures the entire tax debt to be repaid at the lowest possible monthly amount. Unlike representing yourself where knowledge of tax code and procedure is foreign, we understand the rules and procedures and can enforce them to create the most affordable payment plan that will not default and lead to aggressive collections. That means we work with the assigned IRS revenue agent to negotiate as many allowable expenses as possible, and work to reduce the penalties and associated interest to the lowest amount available. The result is a very fair, affordable installment agreement that allows you to repay the tax debt in time and get back on your feet.
Though programs such as the Offer in Compromise have received tremendous attention through the media and tax relief firms offering ‘pennies on the dollar’ settlements, often times one of the most dramatic solutions is a partial payment plan, where-in we structure a shortened IRS payment plan that expires long before the tax debt is paid in full. We work with the assigned revenue agent to prove that the taxpayer and/or business cannot possibly repay the tax debt within the active statute of limitations, as well as negotiating the lowest possible penalties and related interest.
Qualifying for a Partial Pay Installment Agreement takes work, and is something that not every taxpayer or business will be able to take advantage of. However, the results of a successful partial pay installment agreement can be substantial, saving the qualified taxpayer thousands of dollars on average.
If you are experiencing tremendous financial hardship, one of the most dramatic tax relief options is Currently Non Collectible status, where all collection action is frozen against a taxpayer or business. That means the threat to collect back taxes is placed on indefinite hold until the client gets back in their feet, allowing them room and time to breathe.
CNC status is a reprieve against collections, but does not eliminate the tax debt. At some point the tax debt may need to be repaid if and when the taxpayer begins earning enough money, and penalties and interest will continue to accrue. However, getting on currently non collectible status can be a very good choice when a financial hardship warrants it.
The first step towards successful resolution is to acknowledge that your tax debt won’t go away on its own and to seek professional assistance. Our firm of tax relief attorneys and tax relief professionals has helped thousands of individuals and businesses just like you stop forced collections and finally resolve their tax debt.
Our tax relief professionals will take the time to discuss your issue free of charge, and help map out the best solution moving forward. Rest assured, all information is confidential, and nothing will be shared.
We understand that you have many options when it comes to choosing the right tax relief firm, and we welcome the opportunity to help you patiently through this process and bring closure to this important financial consideration.