Possible Avenues for Help with Tax Debt

Seeking help with tax debt should be your priority if you find yourself unable to discharge your tax obligations to IRS. Tax debt is a serious problem that can affect you emotionally, financially and socially. The emotional aspect refers to the constant anxiety and waiting for the inevitable IRS notices. Of course, if the IRS resorts to some of its extreme collection techniques like placing a lien on your property or levy wage garnishment, the social and financial implications become severe.

Help with Tax Debt Can Offer you Relief

Surprisingly, settling your IRS debt is not that difficult, with several options being available. Remember, the IRS would rather work with you and collect from you whatever it can rather than get nothing. And your advantage is that you are off the hook and no longer owe the IRS anything.

If the amount you owe is large, it is recommended to get professional help with tax debt rather than attempting to do it yourself. Professional tax consultants like enrolled agents, CPAs, or tax attorneys have vast experience in dealing with the IRS and obviously have expert knowledge in the area. They will consider the particular circumstances of your case, your current financial situation, special considerations if any, and make the best recommendation on the course of action to obtain tax debt relief.

So what are the possible options available to you for tax debt relief?

Options for Help With Tax Debt

Depending on your circumstances, a professional enrolled agent, CPA or tax attorney can help with your tax debt in any of the following ways.

1. Offer in Compromise
Your representative negotiates with the IRS to possibly reduce considerably the total tax amount you owe. Such an offer is accepted by the IRS only if they can be adequately convinced that it would not be possible for them to earn more from you even on using the most severe collection techniques, or if there is a doubt regarding your responsibility for the taxes owed or if the IRS is convinced that collection of the entire amount owed will cause inequitable financial hardship to the taxpayer that is, you. To avail this option of help with tax debt, the application for offer in compromise has be made in the suitable format and all necessary supporting documentation has to be provided to the IRS for review.

2. Penalty Abatement
Abatement of penalty policy is one of the most commonly used tools to help with tax debt, which seeks to completely eliminate or reduce considerably the penalty associated with unpaid taxes. In general, 30-40% of the tax amount is made up of the penalty imposed on non-payment of taxes and the compounded interest on the penalties. If your penalty abatement is accepted, you are able to reduce your overall tax debt significantly.
In order to accept your penalty abatement request, the IRS requires you to provide proof of exceptional circumstances that prevented you from filing and paying your tax returns on time. Such circumstances include death of a loved one like spouse or child, time spent away from normal course of life like in prison, rehab or abroad, or if your tax records were destroyed due to accidents like fire, flood or any other reason beyond your control.

3. Installment Agreement

Installment agreement is a form of help with tax debt, where you pay the IRS what is owed in manageable monthly installments. The advantage of course is that you are spared from making a lump sum payment at one time, which you probably could not afford. However, keep in mind that during the period of paying installments, the penalties and interest most likely will continue to accrue. So depending on your current financial situation, possible financial future and the size of your tax debt, a professional enrolled agent, CPA or tax attorney can point out how best to use this option for maximum benefit.

Our firm specializes in offering clients the best professional help for their tax debt. The company is headed by Mike Habib, an IRS licensed Enrolled Agent. He is licensed to represent clients in various tax related matters in all the 50 states. Mike specifically works towards resolving issues of unpaid taxes focusing on relieving your burden of tax debt. He has vast experience in dealing with IRS agents and works towards the best possible solution for you, so that you can get your tax debt out of the way and start living again.

Client Reviews
Mike has given us peace of mind! He helped negotiate down a large balance and get us on a payment plan that we can afford with no worries! The stress of dealing with the IRS is huge and Mike helped us through it all. The peace of mind is invaluable, thank you Mike!April S.
Mike Habib - Thank you for being so professional and honest and taking care of my brothers IRS situation. We are so relieved it is over and the offer in compromise process went just as you said. Mike is very professional and will give you honest answers to the OIC process and you can really trust him. You won't be sorry you chose him!Joe and Deborah V.
Mike is a true professional. He really came thru for me and my business. Dealing with the IRS is very scary. I'm a small business person who works hard and Mike helped me see that they are not that scary after all. He was always there with the answers I needed and was very good about calling me back which I appreciated since your first reaction is to freak out and ask a million questions. He solved a messy case and worked very hard to resolve it. His rates are VERY reasonable for the amount of work he does! I give him my highest recommendation!Marcie R.
Mike was incredibly responsive to my IRS issues. Once I decided to go with him (after interviewing numerous other tax professionals), he got on the phone with the IRS immediately (as in the same day I signed with him) to squash an impending issue. And he worked directly with them to quickly come to a resolution I am very happy with. I'd highly recommend reaching out to Mike to see if he can help you with any IRS issues. I'm very satisfied!Marshall W.
I’ve seen and heard plenty of commercials on TV and radio for businesses offering tax help. I did my research on many of them only to discover numerous complaints and unresolved tax issues. I found Mike Habib through my own online search and contacted him. He was very professional with great communication, always answering my questions and concerns. Mike resolved my complicated tax problem just as he said he would. I would definitely recommend his services to family and friends.Nancy & Sal V.
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