IRS tax debt is a growing problem in the United States. Small tax debts become large tax debts when late fees, penalties and interest are added to the original amount owed. Because the prospect of heavy IRS taxes and penalties are so intimidating, many people simply ignore the problem, often not filing their income tax returns for many years, hoping to hide. In our experience, this will only worsen your situation with unexpected collection actions. Click Here For IRS Tax Settlements!
However, there are solutions to your IRS tax problems that you may not be aware of, for example, the IRS accepts tax settlements of reduced value on the amount owed. Tax settlements are negotiated agreements between the IRS and the person who owes tax, based upon the collectability of an individual or company. Once the IRS and your representatives come to an agreement amount that the IRS will accept to stop collections, the taxpayer simply pays the reduced amount within 30 days, or over 5 months. While this may seem straightforward, negotiating with the IRS is a complex process. The IRS has limits on what amounts they can accept as settlements. These rules vary depending on many factors related to your financial standing.
Let the Professionals Negotiate IRS Tax Settlements
Requesting tax settlements from the IRS is referred to as requesting an offer in compromise. The paperwork required to submit an offer in compromise is as detailed and complex as the financial documents required by courts in bankruptcy proceedings. Attempting to file these documents alone, without the help of an experienced professional, can be frustrating, ineffective, and very often result in what is called an unprocessable offer, or rejection.
At Tax Tiger, our tax professionals are well-versed in the intricacies of the offer in compromise tax settlement program. Once we elicit the necessary information from our clients, we file the paperwork for you along with all necessary supporting documentation. Our tax team then negotiates with the IRS regarding the settlement amount. Our tax attorneys, CPA's, and Enrolled Agents are available for free in-depth confidential consultations about your potential qualification for a settlement. Call today to schedule your free appointment.
