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Settling Tax Debts

  • Tax Settlement – What an a IRS settlement is, how it works and how to settle taxes owed.
  • Offer in Compromise: Settle taxes owed for less than original amount owed.

  • Declaring Hardship: Stop collections temporarily by showing the IRS you do not have the means to pay.
  • Penalty Abatement: Reduce or eliminate penalties through the penalty abatement provision
  • IRS Statute of Limitations Expiration: There is a period of time that the IRS is given to collect past due tax debts, if they don’t collect in this time the debt amounts are wiped clear.
  • Innocent Spouse Relief: If your current or prior spouse is at fault for creating a tax liability, it may be possible to pass this liability onto them completely.
  • Bankruptcy and IRS Debt: Bankruptcy may not be the best answer for resolving tax debt, there might be better choices for you.
  • Tax Professional Help : The benefits of using a tax professional to settle tax debts owed.
  • Tax Debt Payment Plans

    • Installment Agreement: Make monthly payments to pay back the IRS or state the amount you owe if you cannot pay in full

    • Partial Payment Installment Agreement: If you can’t make the required payments for the installment agreement, you may qualify for the partial payment option.
    • Pay Tax Debt in Full: Pay tax amount owed in full, even if you don’t currently have the entire amount. Think outside the box on ways to pay.
    • Short term IRS Payment Extensions : Need to buy more time? You can request short term payment extensions to receive more time to pay the taxes owed.

    Business Tax Debt

    Tax Debt Problems

    • Tax Lien: What a tax lien is, effects of a tax lien and what to do when a lien is filed against you.

    • Tax Levy: What a tax levy is, why it is filed, effects, and what you can do about a tax levy.
      • Wage Garnishment: Options you can use to handling the IRS garnishing your wages.

      • Bank Levy: What a bank levy is and your options to handling the IRS taking money from your bank account.
      • Property Seizure: The harshest collection mechanism of the IRS. Ways to deal with the seizure.
    • Unfiled Tax Returns: Consequences of not filing returns with the IRS. Will the IRS find you? What they will do when the find you.
    • Can’t Pay Back Taxes: What to expect when you have unpaid taxes. Actions you can expect from the IRS.
    • Can’t Pay Taxes When Due: April 15th is coming up (4/17 is deadline for 2012) Some options to not being able to pay taxes when they are due.

    Tax Professionals

     

     

     

     

     

     

     

    Tax Guides

    • Filing IRS Back Taxes: Your guide on filing unfiled taxes with the IRS. It is never too late to file. The IRS will find you eventually.

    • Paying Back Taxes Owed: Different methods to pay the IRS, even if you don’t have the means to pay in full.
    • Remove a Tax Lien: A tax lien can be financially devastating. There are many ways to remove the lien, find the best method for your financial situation.
    • Release a Tax Levy: Stop IRS collections. How to stop a tax levy.
    • Appeal a Tax Ruling: Taxpayers have many rights and appealing a tax ruling is one that can come in handy, especially when dealing with tax debt.
    • Find a Tax Professional: What to look for in a tax professional or tax relief firm when searching for one to help with your tax problems.
    • Old Taxes: How to go about filing and paying old taxes. When you have old taxes it is important to file them as soon as possible and then find out the best way for you to pay any money owed to the IRS.
    • Filing for an Extension: How to file for an extension to request an additional 6 months to file your tax return with the IRS.
    • Filing a Substitute Return: When you don’t have important tax return documents a substitute return can be used when filing back taxes.
    • Dealing with Taxes owed from Withdrawal of 401K
    • IRS Collections: Understand how the IRS tax collection process works. Once a tax amount is assessed the process begins, know what to expect and how to stop.

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