Tax Relief

Tax Relief

Are you having problems with settling all your tax debts? If so, you might want to avail of any of the tax relief programs provided for by the IRS. A tax relief is a negotiated solution to your tax problem and possible reduction of the entire tax amount, penalty and interest. It is a form of help from the Government so the taxpayers, be it individuals or companies or corporations, may still be able to pay the tax that is needed to sustain the Government’s needs without such taxpayer suffering penalties from non-payment of taxes. It is a form of compromise where you, as a taxpayer and with back taxes, will promise to pay a possible lesser amount to the IRS instead of the whole amount, and where the IRS will not penalize you or charge you with interests and accept your payment as sufficient.

So what are the different tax relief programs that the Government provides? There is property, personal, business, and housing tax relief. You could also avail of the disaster tax relief program if you have experienced a natural disaster or calamity in your area, or even a financial crisis. However, before you could qualify for this kind, your place or area must first be declared by the Government to be in such a state. There is also an available tax debt relief for taxpayers who are insolvent and cannot, in any way, produce the money to settle their tax obligations. There are other tax relief programs and the best way to know which among these programs you are qualified to apply for is to consult with a tax professional that has an in-depth knowledge on these matters. Such tax professionals will assist you and make your application for tax relief successful, than if you will do it by yourself, particularly because there are many requirements to submit and papers to be produced. However, you must remember that a granted tax relief will not eliminate your tax obligations; instead, it will just make it more affordable for you to pay what you can based on your ability to pay. This is a common misperception of people about tax relief.

There are many tax relief laws. An example of this is the Taxpayer Relief Act of 1997 which reduced different federal taxes of the United States. Another is the Mortgage Forgiveness Debt Relief Act of 2007 which intends to prevent the canceled debt or the forgiven death by a creditor from being treated as taxable income. Just this April 2010, the Legislature of California passed a bill involving housing-crisis California tax relief. This bill is intended to aid homeowners, whose homes and family dwellings were foreclosed, or those who cannot pay anymore mortgages on their homes and had sold it for less than what they still owe their creditors. These kinds of bills and laws are very much needed these days, because of the financial crisis that the whole world has experienced. It will definitely help taxpayers in their responsibility as citizens in assisting the Government and in turn, the Government will be able to collect the needed money to fund their projects.

Keywords: tax relief, tax debt relief, IRS tax relief

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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