Do you owe the IRS back taxes?
You don’t have to be afraid of the IRS anymore. The tax resolution specialists at Tidy Tax can help you get the tax relief you need.
If the IRS is demanding full payment of back taxes or a payment plan that is substantially higher than you can afford, the professionals at Tidy Tax will help. We can negotiate an offer in compromise on your behalf for a fraction of what is owed. Or if you qualify, we can arrange the lowest possible monthly payment with various options for making those payments.
Even if you can't afford to pay your back taxes, a certified tax resolution specialist, tax attorney, or CPA will give you the help you need to settle your IRS debt. There are several tax resolution strategies to help alleviate back tax problems.
Here are some possible scenarios and ideal remedies for back tax problems:
If you owe back taxes but can’t afford to pay them in full, you have options other than default. If you owe less than $10,000 in back taxes, you 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 to be paid in 36 monthly installments.
If you owe $20,000 or more in back taxes you will want to partner with a certified tax resolution specialist or a tax attorney to increase your chances of qualifying for an IRS payment plan to help settle back tax debt for the lowest possible amount. At the same time you may remove bank levies, tax liens, or wage garnishments. The professionals at Tidy Tax will help you negotiate an installment agreement with the IRS to pay off your taxes and still cover your living expenses. Once you’ve entered an installment agreement, the IRS will not take collection action against you as long as you pay your minimum monthly payment and file all subsequent tax returns.
Has the IRS notified you that it plans to take collection action against you?
You have the right to appeal an IRS levy, lien or seizure, denial or termination of an installment agreement. If these circumstances apply, Appeals is for you: The correspondence you receive from the IRS states you have a right to go to Appeals to dispute an IRS decision or you disagree with the decision and aren’t signing an agreement form already sent. In most cases, you have 30 days to appeal IRS collection action. However, if you simply can’t pay the amount you owe, you are not eligible for an appeal.
Is the amount of your back taxes more than you can afford to pay?
An offer in compromise is a way to settle tax debt for less than the amount owed. The IRS will accept an offer in compromise in situations where the amount offered is the most it can expect to collect from the taxpayer before the statute of limitations is exceeded. Ability to pay, income, expenses and asset equity are examined when an offer in compromise is considered. The IRS will investigate all other forms of liability fulfillment, such as an installment agreement, before agreeing to an offer in compromise. If you are in an open bankruptcy proceeding, you are not eligible for an offer in compromise.
To qualify for an installment agreement or offer in compromise to resolve your back taxes, you must file all delinquent tax returns with the IRS. As a Tidy Tax client, you can count on our tax resolution specialists to take all steps necessary to bring you into compliance with IRS requirements.
The IRS is bound by statutes 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 regarding IRS statutes of limitations before pursuing tax relief this way.
Declaring bankruptcy is not a sure way to absolve one of tax debt. Remaining tax obligations will 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 to determine eligibility before taking any action.
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.
If you owe back taxes on delinquent payroll and employment taxes, it is important to resolve payroll tax debt problems quickly to protect the future of your company. The penalties assessed on delinquent payroll tax deposits or filings may increase the total amount owed dramatically in a matter of months. Also, the IRS does not care if a business fails or not. If you don't take immediate action to deal with payroll tax problems, you may find yourself out of business and with legal problems. The tax resolution professionals at Tidy Tax know that resolving your payroll tax issues is about saving your company and ultimately your livelihood. We have experience in helping businesses permanently resolve payroll problems and back taxes.
It is important to understand how the IRS assesses back taxes and penalties against you. You have a legal right to see government documents, including your IRS files, to better understand your tax problems. The IRS must disclose the information used to assess back taxes and interest against taxpayers.
The tax resolution specialists at Tidy Tax will assist you with your back tax problems. Contact us today and be on your way to tax relief. 1800-665-9330
