There are now more opportunities than ever before to obtain IRS tax relief. A qualified tax attorney is an invaluable resource in obtaining a fair and affordable resolution of your tax debt problems. A tax professional remains current with the ever-changing tax laws and codes and is skilled in IRS negotiations.
Some of the IRS tax relief programs and tax solutions currently available are:
- Filing Back Tax Returns
- Offer in Compromise (OIC)
- Installment Agreements
- Penalty Abatement
- Innocent Spouse
Filing Back Tax Returns
Negotiations for IRS tax relief cannot begin until the taxpayer is in compliance. A tax attorneycan determine which years need to be submitted and file the late returns for you. IRS penalties, interest and fines will be added to the total back tax due. If you are willing and able to pay the full amount due, your tax problems will be over. This is usually not the case. Your tax professional can now begin IRS negotiations for resolving your tax liability.
Offer in Compromise
An Offer in Compromise gives the IRS authorization to reduce the amount of the outstanding tax liability, settling for less than the full tax amount due.
The IRS may accept an OIC based on:
- Doubt as to ability to collect
- Doubt as to liability
- Executive Tax Administration (hardship cases)
An OIC is applicable to the entire tax amount owed. Various tax types can be combined in one OIC.
Negotiation with the IRS allows your tax professional to establish an installment agreement for you. Your tax representative will ensure you receive a payment plan that will fit your financial circumstances. These agreements allow the taxpayer to pay their outstanding tax liability in smaller, more manageable amounts.
IRS acceptance of a penalty abatement request cancels all or part of the accrued penalties and interest, but not the original tax liability. A taxpayer may request a penalty abatement based on circumstances involved. A qualified tax attorney can help you present reasons for abatement which can support a favorable decision from the IRS.
The IRS will consider:
- Destruction of Records
- Family Problems (i.e. divorce or death in the family)
- Incarceration or other major disruption to your life
Tax professionals are experts in helping you present your case to the IRS for Innocent Spouse Relief. Proof must be presented to support the necessary requirements that may qualify a taxpayer for this type of relief.