Negotiating a Tax Debt Settlement
Americans have a hard enough time paying their bills as it is, without the added pressure of an IRS bill. For taxpayers who find themselves on the wrong side of a tax debt, tax debt settlement negotiation is their most economical IRS solution. These settlements can be hard to win, even for tax experts . Let us guide you through this process and help to lower your stress.
Tax debt settlement negotiation is where a taxpayer or their representation negotiates an IRS agreement with the IRS to resolve a tax debt, including payment terms, any reduction of penalties or the overall debt amount.
Programs to Consider
Taxpayers should consider these programs before applying solely for a settlement, and should avoid tax relief companies that claim to settle tax debts for “pennies on the dollar.” This is because when a taxpayer applies for a settlement program like an Offer in Compromise, they disclose all of their finances. Then the IRS can use the information against them to ask for high payments if it decides not to settle. While very few taxpayers qualify for an whole settlement, there are many programs that can provide tax debt relief, including:
- Penalty Abatement
- Partial Payment Installment Agreement
- Currently Not Collectible
The only tax professionals who are able to negotiate a tax debt settlement are tax attorneys and enrolled agents. These licensed professionals are allowed to represent taxpayers with any tax problem, including criminal tax problems. They work with every level of the IRS, including appeals. Taxpayers are advised to hire a tax attorney or enrolled agent to help with a tax debt settlement negotiation. Do not attempt to negotiate with the IRS yourself.
If you are a taxpayer with a back tax debt and are interested in your tax debt settlement choices, call us today for a free talk about what IRS programs you qualify for. Take the first step to living debt free now.
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