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Proven Ways to Resolve Your IRS Tax Debt Problems

Are constant mail and collection efforts from the IRS bogging you down? Have you run out of possible options to pay your IRS tax debt and its running into tens of thousands? Trust me; it’s not the end of the world and you are not alone. ‘How to resolve my IRS tax debt problem?’ is a constant question hovering over many people’s minds.

How to Get Immediate Relief for Your IRS Tax Debt Problem

It may surprise you, but getting relief from your IRS tax debt problem isn’t as impossible as it seems. There are several ways to tackle this issue. Hiring an experienced enrolled agent, CPA or attorney is half battle won. It will save you the trouble of responding to aggression from the IRS or meeting the IRS agents or officers face to face.

A genuine tax relief firm will provide you with the following immediate benefits:

Curbing Enforcement Once you owe tax debt to the state and or IRS will resort to the easiest means of collection on an urgent basis. They resort to garnishment/levy of your paycheck, seizure/levy of your bank account and or property through tax liens. Once you hire services of a professional, they will protect you against any such possible measures. It is in your best interest to hand over this issue and save yourself from further draining out financially and emotionally.

Prompt Action It’s a must to act quickly in the event of an IRS summons. Postponement would only mean adding up to the existing tax debt in the form of penalties and interest. An experienced enrolled agent or a tax attorney exactly understands the gravity of your IRS tax debt problem and negotiates with the IRS at the first opportunity so that you get maximum relief.

What Are the Possible Ways to Resolve My IRS Tax Debt Problem?

An able professional tax associate will first undertake the following steps:
* Understand your financial position closely with the aid of all your financial and tax documents.
* Devise the most appropriate strategy to combat your IRS tax debt problem optimally.
* Liaise with the IRS on your behalf to shield you against any enforcement and negotiate to the best of their ability and appropriate to your case.

An ideal way to resolve your IRS tax debt problem would consist of one of the following approaches:

1) Offer In Compromise
Also referred to as the ‘OIC’ program at the IRS, this is a lengthy and tedious but a proven way to resolve your IRS tax debt problems. The process entails numerous formalities in the form of detailed questionnaires, written procedures and several rounds of negotiations. Under OIC, a taxpayer agrees to pay a certain amount to the IRS over a period of few months to 2 years, in lieu of which the IRS writes-off the balance of the taxpayer’s liabilities. However, there are criteria you must meet in order to qualify for the OIC program. If you do, you could possibly end up reducing 50% to 90% of your tax debt burden eventually.

2) Installment Agreement

IA or the Installment Agreement is a payoff program under which the taxpayer needs to pay a certain monthly amount to the IRS over a period of maximum 5-6 years. There are various kinds of IAs:
* SIA or Streamlined IA If the assessed payable amount is less than $25,000.00 and the taxpayer is capable of paying it off within 60 months, this monthly payment program can be made applicable. Fresh start program offers taxpayers with tax debt of up to $50,000 a similar option if the taxpayer qualifies.
* Conditional Expense IA This program applies when the taxpayer needs to continue paying for other expenses monthly viz. credit card bills, home or personal loans, and can still clear their tax debt within 5 years. The taxpayer will need to prove these additional expenses with the aid of financial statements.
* Stair-Step / Tiered IA Consider a case where a taxpayer is about to clear off a continuing loan or mortgage within a few months to one year. A stair-step IA can be made applicable under which the taxpayer needs to pay a certain amount for a year and then a larger amount subsequently in order to clear off the tax debt within 5 years.
* Traditional IA The subject pays up to their capacity as calculated in their financial documentation.
* Partial Pay IA Under this IA, the taxpayer needs to pay a partial negotiated amount to the IRS in the form of installments.

3) CNC
CNC means ‘Currently-Non-Collectible’. Rightly as the phrase suggests, this is a temporary measure to keep IRS from resorting to enforce collections. A taxpayer whose monthly expenditure exceeds their monthly income is deemed as the one suffering with financial hardships and can be issued this status with the IRS.

4) Penalty Abatement

Often the penalties imposed by the IRS due to failure in timely filing of taxes, exceed your actual tax debt amount. However, IRS grants one opportunity to prove your justification for the delay or failure rationally. An efficient professional enrolled agent or CPA makes apt use of this opportunity to file a legal, detailed petition to waive some or all of the penalties due to reasonable cause by proving your innocence and diligence in paying the actual tax amount.

Deciding the right course of action on How to resolve your IRS tax debt problem can be more challenging than it seems. Additionally, dealing with the IRS and facing the IRS auditor or officer can be quite intimidating. Mike Habib, an IRS licensed Enrolled Agent, is an eminent figure in the field of IRS tax issue resolution and has returned peace of mind to many families and smiles on hundreds of faces over the past years. When you call him at 877-788-2937, you not only lighten the weight off your shoulders but hang up with the assurance of leading a stress-free, respectable life ahead. Visit www.myirstaxrelief.com for a comprehensive idea about his work and service.

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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