Good news for American taxpayers who have an outstanding IRS Tax Debt: IRS is still accepting a large number of requests for settlements of delinquent back taxes from taxpayers who are in financial distress and cannot pay their back taxes in full. However, it is a pity that even a huge number of American citizens are possibly qualified for IRS tax relief programs, yet only a small percentage has managed to settle and benefit from these programs. This article not only explores the mistakes made by the individuals who owe IRS back taxes but also explains the best line of attack to resolve your IRS problems.
Although the Internal Revenue Service is offering the taxpayers having back tax problems a solitary opportunity to say goodbye to their tax debt for good, it neither advertises nor suggests that taxpayers should make the use of their offerings. This clearly depicts that the IRS is more eager to recover its full amount instead of providing you the relief. Therefore, most of the taxpayers in financial hardship are not aware of this golden opportunity.
On the other hand, the major reason for taxpayers not being able to enjoy the tax debt settlement offer by IRS is not awareness. In fact majority of taxpayers shamble their case themselves by taking wrong steps, incorrect paperwork and various other mistakes. At the end of the day, these taxpayers have to pay much more than the actual amount owed or end up doing nothing at all.
Offer in Compromise (OIC) is obviously the best way out of IRS back taxes as you have to pay a reduced percentage of the total tax debt. In the current prevalent gloomy fiscal conditions, most of the taxpayers with unpaid back taxes and who are in financial distress and special circumstances due to different hardships, could qualify for an OIC. But as said earlier, many individuals try to negotiate with the IRS on their own and due to lack of tax knowledge and specialized skill set, their OIC request is rejected.
If you want to end your IRS back tax nightmare, you should contact a qualified and reliable tax relief expert. Mike Habib focuses his tax practice on representing his clients before all administrative levels of the IRS. Hire a reliable tax relief professional today, start a tax debt-free life tomorrow!
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