IRS Tax Settlement

If you're caught in a tight financial situation and need help with an IRS Tax Settlement, you are not alone.  Thousands of taxpayers are intimidated by this prospect and are reluctant to deal with it.  

Delaying resolution of outstanding tax responsibilities places the taxpayer in an even worse position, increasing the tax debt significantly.  Unaware of their tax settlement options, taxpayers spend countless hours mired down in unnecessary stress.

There is hope.  A simple consultation with a qualified tax attorney will ease the pressure.  IRS tax attorneys can help reduce tax debt and negotiate an IRS Tax Settlement.

Tax Relief

Settling with the IRS

An IRS Tax Settlement is available to those who do not have the financial means of paying back a tax debt.  Do you know where to begin?  Do you know what forms you need and how to complete them?  Do you know what your rights are? If the answer to any of these questions is no, then you need help.

Selecting and qualifying for an IRS tax relief settlement  is not an easy process.  An experienced tax attorney, equipped with the knowledge of current tax law and skilled in IRS negotiation, can handle all of this for you.

The beginning process:

  • Your tax attorney will need all of your financial information, including past and present tax returns for the period of time in question.
  • Your financial information will be evaluated to determine which tax relief option may work best for you.
  • Your tax professional will speak with the IRS on your behalf, relieving you of this responsibility.

Every aspect of the IRS settlement will be handled for you. The final amount of the tax debt owed, agreed to by the taxpayer and the IRS, is called the "settlement".  This amount is reached through negotiation with the IRS to reduce or eliminate imposed penalties or accrued interest.

Tax Debt Reduction

The wiping out of penalties or interest by the IRS is referred to as an "abatement".  Upon request, approximately 25% of IRS penalties are abated.  However, interest is seldom abated.  A tax attorney has the ability to present your case to your advantage.

Penalty Abatement - Requests to have a penalty removed must be supported by a reasonable cause for failure to follow tax law.  The job of your tax attorney is to successfully gain IRS cooperation in determining reasonable cause.

Interest Abatement - Reasons to waive accrued interest are limited to: (1) The IRS was in error in charging the interest; (2) The IRS sent a tax refund in error, is demanding the return, and is charging interest from the date the check was cut; (3) The interest accrued is due to IRS delays.

Abatement Rejections - Options your tax attorney can help with are: (1) Send an appeal letter to the IRS; (2) Transfer your file to your local IRS office to meet with a Revenue Officer; (3) Pay the penalty and submit a Claim for Refund and Request for Abatement; (4) Submit a request for an Offer in Compromise.

IRS Tax Settlement Representation

A qualified tax attorney can assist you in securing penalty abatement, interest reduction or tax debt cancellation. The decision will be jointly determined by you and your tax attorney. The most important aspects of obtaining an IRS Tax Settlement are supporting your reasons with proof and thoroughly explaining why you are seeking IRS tax relief.