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This FREE eBook contains 21 tips to Get Help for Your IRS Tax Problems and Get Your IRS Debt Resolved, Reduced or Forgiven. 

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Do You Owe The IRS Money That You Can't Pay? 

There are so many reason you can’t afford your Tax Bill in April, such as not enough withholding, unexpected medical bills, other debts, financial hardship.

No matter the case, we know how overwhelming and extremely stressful this situation can be, especially if you debt with the IRS has been going for more than one year, since all of those penalties and interest just keep adding up.

How the IRS can get you?

They take this very seriously, They will seek every legal way to collect the money they are owed. They can seize your assets, freeze your bank account, garnish your paycheck, and even restrict your passport. They can file levies and liens on your property. Hopefully, this hasn’t happened to you yet, getting the help you need from a professional is key to avoid any of these.

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What Are Your Options?

Start paying your current taxes first. You must be all caught up with filing your income tax returns and paying your current taxes before most of the following remedies are available to you. 

Here are some of the options the IRS provides to taxpayers who owe money. Whether these are applicable to you depends on your circumstances. 

1.    Installment plan

This is where you work out a payment arrangement with the IRS. There are several forms of agreements, including regular, partial-pay, and streamlined. Which one you should use is highly dependent upon your current financial situation and the amount you owe. 

2.    Offer in compromise

An offer in compromise is where the IRS agrees to accept less than the full amount owed. The IRS does not have to accept an Offer, but if the Offer is presented so that it meets the IRS guidelines, it increases the chance that the IRS accepts the Offer to resolve the outstanding balance.

Not all tax professionals know the ins and outs of preparing an Offer that has a good chance of getting accepted. It’s important to look for a professional who has an excellent track record of getting Offers accepted by the IRS. 

3.    “Currently Not Collectible” status

This status allows you to defer your debt. The debt does not go away; you still owe the IRS money. But you’ll stop the process of getting your bank accounts levied or other collection efforts if you are granted this status. This often happens when you don’t have enough income to cover your current living expenses. Once your income rises, the IRS will re-evaluate your situation. 

4.    Bankruptcy

Bankruptcy can be extremely useful to stop IRS collection efforts, potentially discharge income taxes that are old enough, and force repayment plans on an otherwise unwilling IRS. Tax penalties may also be discharged through the bankruptcy. Since this is such a complex area, your best bet is to consult with several professionals – an accountant, a tax resolution professional, and an attorney that is expert at bankruptcy issues. 

What We Can Do To Help You:

  • Respond professionally to any IRS correspondence you received

  • Contact the IRS on your behalf so that you don’t have to face them directly

  • Represent your case before the IRS

  • Get you caught up on filing back tax returns that are late

  • Negotiate penalties, interest, and taxes due to lower your debt

  • Understand the IRS Collections process and your rights

  • Work out a payment plan on any money you owe to the IRS

  • Fight for you on issues that come up, such as innocent spouse situations or positions    taken on tax returns

  • Help you get levies and liens removed from your assets. 

  • Solutions For Resolving Your IRS Debt:

    Contact us at no obligation to you so we can understand your specific tax situation and provide advice on the options available to you. Your tax issue is handled with the utmost confidentiality and privacy..

    Schedule a Discovery Call

    My Tax Problems Solved helps taxpayers by finding the best solution to their tax problems so that they can have control over their financial life with a great client experience. 

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