The best way to resolve IRS tax debt is to pay what you owe in full. If you are not in a position to do so, for whatever reason, you can explore the different IRS payment plans and apply for one that best fits your circumstances. An IRS tax debt attorney can help you in that regard.
An experienced IRS tax lawyer is best placed to help you with IRS debt. The IRS has different payment plans that appeal to different taxpayers that owe back taxes. A seasoned lawyer will first understand your case and circumstances before helping you to seek relief using the best payment agreement.
To qualify for an IRS Tax Forgiveness Program, you must owe the IRS at least $10,000 in back taxes. Another basic condition is that you have to prove to the IRS that you are unable to pay back the outstanding amount in a reasonable amount of time.
Yes, the IRS has different debt relief programs that allow taxpayers to settle their taxes for less than what they actually owe. You have to check if you qualify for an IRS debt forgiveness program before applying, or consult an IRS attorney.
Yes. The tax debt relief program is legitimate, but you must always be alert to the presence of scammers who take advantage of the IRS program. If you can’t do it yourself, make sure to consult an established IRS debt tax attorney for reliable help with IRS debt.
If you can’t pay your taxes, you may request a payment plan (including an installment agreement). Sometimes, taxpayers qualify for a partial installment agreement, when the household income is less than the amount needed to pay the IRS debt within a specified amount of time. Each IRS debt relief option has different requirements, and some may even require a fee.
The IRS has a debt forgiveness program that is available to qualifying taxpayers. You will need to apply to be accepted into the program. There are specific qualifications to meet requirements of the program. After you agree to the terms of your IRS debt forgiveness program, the IRS will keep assessing your financial situation.
There are several ways to avoid attracting a tax audit. These include:
- Not reporting a ‘net business loss’
- Being specific when listing your expenses
- Providing supporting paperwork and explanations for your expenses
- Filing and paying your taxes on time
- File accurate returns the first time to avoid amended returns
- Make sure the information in your tax return aligns with what is in government-issued forms, such as 1099-INT, 1099-DIV.
- Avoid excessive deductions
- Avoid using the same figures for your deductions
- Answer all questions and leave nothing blank
- Use Schedule C to report all small business earnings
The best way to get IRS problem resolution when it comes to tax levies and liens is to pay what you owe in full. The IRS will release the lien 30 days after you settle your tax debt. If you believe the IRS action is a mistake, get in touch with the government agency to get a resolution. In all situations, you can always get professional help from IRS debt lawyers.