Filing tax returns is a necessary hassle, and everyone - even prudent individuals - are prone to errors. Tax delinquency is becoming a common problem as the harsh economy renders more people incapable of paying their taxes for various reasons.
Luckily, resolving delinquent tax liabilities need not be traumatic. If you're one of the many individuals faced with circumstances that hinder the prompt payment of your taxes, don't worry - all is not lost.
Millions of people seek tax relief annually, and you are not alone. There are a variety of tax relief programs that you can explore, as the IRS gives you a chance to redeem yourself. Even for those who have outstanding tax debt, various options for payment are still available, usually tailored according to the individual's financial situation. Here are some of them. Offer in compromise
The most popular tax relief option is arriving at a payment compromise. You can do this through the assistance of a tax professional, or by yourself, or seek a third-party tax service provider. He will negotiate with the IRS to settle your tax debt for the lowest amount allowed by law.
The offer in compromise agreement is designed as a last resort; thus, to qualify for this option, you must have exhausted all other possible means of paying your taxes. If you are qualified, you may negotiate a settled amount less than the total amount you owe to clear the tax debt. Because this is treated as a court of last resort when it comes to tax options, offer in compromise has strict qualifying conditions. You must fit a certain criterion in order to qualify for this option. For instance, you need to prove doubt as to collect ability; that is, your current circumstances hinder you from being able to pay off your tax debts.
Have you received an IRS Tax Levy notification or a notice that a Federal Tax Lien has been filed against you? Then you need to protect your assets - money in your bank account, your home, car, your paychecks, etc. - or the IRS may seize them immediately. We can help you negotiate an installment agreement to help you pay your taxes over a more manageable period of time.
Innocent / Injured Spouse
Are you having problems with the IRS because of your spouse or ex-spouse's actions? We can help you apply for 'innocent spouse' status.
Expiration Of Statute
The IRS can only go after unpaid taxes and penalties within 10 years from the date of assessment. Unless you have allowed the IRS to formally extend their collection period, they cannot anymore collect tax liabilities that have expired under the 10-year statute. If the IRS is trying to collect an expired tax liability from you, we can help file an expiration of statute and have the IRS write off these expired tax liabilities.
Get professional assistance
You are better off hiring an experienced tax relief professional to get the most of these tax relief settlements, or you risk either getting rejected and/or paying more than you should.
There are certain factors that you need to consider when selecting a professional to provide you with tax relief help.
For starters, you want to work with a tax relief professional who is credible, always insist to speak with the licensed professional who will actually resolve and negotiate your case. Verify his/her credentials through related organizations in the tax industry, and consult the Better Business Bureau. Remember that at this point, you don't have a lot of money to spare, and you can't afford mistakes when it comes to hiring someone to help you.
Reliable tax relief services
Let renowned tax expert Mike Habib, EA (http://www.myirstaxrelief.com) help you today. He will design a delinquent tax resolution tailored to your unique circumstances. Take advantage of his free consultation at 1-877-78-TAXES.