Find Tax Debt Relief For Your Tax Problems

Ignoring your tax problems will not make them go away and individuals with IRS debt often do not consider the consequences that can take place when taxes go unpaid. If you fall within the category of individuals who are struggling to pay back taxes, know that there are different types of IRS tax solutions to help your case.

Installment Agreement

Making monthly payments through an installment agreement is generally the easiest way to pay off any taxes owed to the IRS if you are not financially able to pay your tax debt immediately.

Different types of Installment Agreements

  • Guaranteed Installment Agreements
  • Streamlined Installment Agreements
  • Partial Payment Installment Agreements
  • “Non-Streamlined” Installment Agreements
Offer in Compromise

An offer in compromise is an IRS program that allows individuals to negotiate and settle their unpaid tax debt for less than the full amount that is owed. This is an option in which individuals qualify because they can not pay off their full tax liability or doing so creates financial hardship.

Different factors are taken into consideration for the qualification process like ability to pay, income, expenses, and asset equity.

Penalty Abatement

When filing late or intentionally filing a falsified tax return, the IRS will hit you with interests and penalties. A penalty abatement (abate, which means to completely or partially remove), can have the IRS remove some or all of the penalties from the tax debt, making easier for taxpayers to resolve their back taxes.

In order to be approved for a penalty abatement, an individual must show reasonable cause for the failure to fulfill their obligations.

Innocent Spouse Relief

Married taxpayers choose to file a joint tax return to enjoy the benefits that single filers are not eligible for. Both spouses are responsible for everything on the returns, even if they divorce. If one spouse files an unlawful return without the other spouse’s knowledge, the unknowing spouse may be eligible for innocent spouse relief.

The innocent spouse will be required to show proof in order to qualify for this tax solution.

Currently Not Collectible

There are times when taxpayers come across unpredictable financial events putting them in a situation where they are unable to pay back taxes owed to the IRS. The IRS understands this and can declare a taxpayer noncollectable only if they can prove that the collection of taxes owed would cause financial hardship. Once approved, payment collections will temporarily stop. After a few months the IRS will follow up on the status of your financial situation to see if it has improved enough to begin collection again.

This is a temporary solution, it doesn’t eliminate your tax debt but it buys you more time to deal with it.

Seek the help of an experienced tax attorney who can assess your tax problems and provide you with the best tax debt relief solution that would best benefit your case.