You don’t need to be afraid of the IRS anymore. The tax resolution specialists at Tidy Tax Services can help you get the tax help you need.
If the IRS is demanding full payment of a tax liability or a payment plan that is substantially higher than you can afford, the professionals at Tidy Tax Services can help. We can negotiate an offer in compromise on your behalf for a fraction of what you owe.
Even if you can’t afford to pay your taxes, a certified tax resolution specialist, tax attorney, or Certified Public Accountant will be able to help you settle your IRS debt. There are many different strategies to help alleviate the tax problem you have.
Paying your Tax Debt in Installments
If you owe back taxes but can’t afford to pay them in full, you have options other than full collection. If you owe less than $10,000 in taxes, have a clean IRS record and all of your tax returns have been filed, you can call the IRS directly and they will arrange a payment plan on your behalf.
If you owe $20,000 or more in taxes, you will want to partner with a certified tax resolution specialist to increase your chances of qualifying for an IRS payment plan. At the same time, we can help remove bank levies, tax liens, or wage garnishments. Once you’ve entered into an installment agreement, the IRS will be unable to take collection action against you.
Has The IRS Taken Collection Action Against You?
You have the right to appeal an IRS levy, lien or seizure, denial or termination of an installment agreement and rejection of an Offer in Compromise. If these circumstances apply, an appeal may be for you. In most cases, you have 30 days to appeal an IRS collection action. It is important that you act quickly and not wait to appeal your case.
Are You Unable To Pay Your Tax Debt?
An Offer in Compromise is a program to help taxpayers settle their tax debt for less than is owed. The IRS will accept an offer to compromise the debt in situations where the amount offered is the most the IRS expects to collect from the taxpayer before the statute of limitations expires. The IRS will generally seek other forms of collection, such as an installment agreement, before agreeing to an offer in compromise.
To qualify for an installment agreement or Offer in Compromise, you must file all delinquent tax returns with the IRS. As a Tidy Tax Services client, you can count on our tax resolution specialists to take all steps necessary to bring you into compliance with the IRS.
Your Tax Debt Will Eventually Expire
The IRS is bound by a statute of limitations for collecting back taxes and conducting audits. The IRS cannot legally collect back taxes that exceed 10 years from the date of assessment. Similarly, the IRS may not audit a tax return later than three years from the date it was due or filed, whichever is later. However, exceptions exist in both cases, so it is important you know and understand the laws and regulations regarding the statute of limitations.
Declaring Bankruptcy May Be an Option
Declaring bankruptcy is not always a sure way of reducing a tax liability. Remaining tax obligations may vary depending on the bankruptcy chapter under which the petition is filed. If you are considering bankruptcy as a means to eliminate tax debt, consult an experienced tax attorney at Tidy Tax Services to determine your best course of action before proceeding.
Is Your Spouse Responsible For Your Tax Problems?
If you owe back taxes due to your spouse or ex-spouse’s actions, you may be eligible for innocent spouse tax relief. To qualify for this type of tax relief you must have filed a joint return that claimed a lower amount of tax than was actually owed. The understatement must have been due to your spouse’s actions and you must be able to prove you did not know, or had no reason to know, there was an understatement of tax when you signed the joint return. A person must claim innocent spouse tax relief within two years from the date the IRS began collection activity.
Do You Have Payroll Tax Problems?
If you have delinquent payroll and employment taxes, it is important to resolve the problem quickly to protect the future of your company. The penalties assessed on delinquent payroll tax deposits may dramatically increase the total liability in a matter of months. Also, the IRS does not care if your business fails and will do anything they can to collect a tax liability. If immediate action is not taken to deal with payroll tax problems, you may find yourself out of business.