Do you owe unpaid taxes to the IRS? 

Numerous years’ worth of back taxes are owed by millions of Americans to the IRS. It can be quite stressful to owe money to the IRS and be unable to pay it back. There are also some severe repercussions:

  • wage garnishments
  • Levy-based accounts
  • Liens on real estate

Fortunately, you have solutions to help you escape the burden of IRS debt. Your challenging tax position can be resolved by the IRS Debt Forgiveness Programme.

The Debt Forgiveness Programme: What Is It?

Taxpayers who owe the IRS money can settle their debts in a more reasonable manner under the IRS debt forgiveness programme. The programme provides resources and support to help taxpayers determine the most effective method of debt repayment. It also offers a mechanism for taxpayers to avoid penalties and interest charges.

For taxpayers who meet the requirements, the IRS offers a debt forgiveness programme. You must have submitted all prior tax returns and demonstrate serious financial hardship in order to qualify. Check to see whether you qualify as the programme is only open to a select group of individuals.

With the help of this programme, you can combine all of your debts into a single, manageable monthly payment. In the long run, tax debt forgiveness can also raise your credit score. Therefore, if you are having trouble paying your taxes, be sure to look into all of your choices and seek assistance from the IRS.

Recognise Your Options

Contact us for a free consultation if you are unable to pay your taxes in full and are unsure of how to start making payments on what you owe. 

Our team of federally licenced & enrolled agents, tax lawyers, and accountants has been working towards providing tax settlement services with the IRS and state tax authorities for more than 13 years.

We Assist With:
  • Tax Liens and Levies
  • Garnishment of wages
  • Property Seizure
  • Prepare taxes and get extensions
  • ‘Fresh Start’ Qualification Support from the IRS
  • In-Compromise Offer
  • Not Collectible at the Moment
  • Application of the Statute of Limitations
  • Returns for Unfiled Years to Be Filed
  • IRS Audit Protection
  • Personal & Business Taxes

Tax Law Advocates can assist you if you owe the IRS at least $10,000. When it comes to debt settlement and repayment programmes, there are many different possibilities. Each option’s eligibility is assessed on a case-by-case basis. Working with knowledgeable tax professionals is essential since the IRS handles each case independently and evaluates each one separately during negotiations.

Don’t accept a tax resolution that makes you pay more than is necessary. Let our knowledgeable staff assist you in obtaining the finest terms.

How to Conquer IRS Debt 

Non-Collectible Status at this Time

If you are unable to make your tax payments, the IRS may designate you as currently non-collectible. This implies that the IRS won’t make an effort to actively pursue you for the money you owe. This does not imply that your obligation has been discharged, though. The statute of limitations will restart, and interest and penalties will keep accruing.

The IRS may ask you to provide a financial statement if you are in Currently Non-Collectible Status. The IRS will see your current income and expenses on this statement. This information will be used by the IRS to decide whether and when they can start pursuing payment from you once more.

Installment contracts

You might be able to reduce your debt with an installment plan if you owe back taxes. A payment plan known as an installment agreement enables you to pay off your debt gradually. If you are unable to pay your taxes in full, this may be a wise choice.

An installment agreement’s drawback is that it won’t halt the accumulation of interest and penalties. A setup fee will also be charged to you. A Notice of Federal Tax Lien may be filed by the IRS, which might lower your credit score.

Once your payment plan request has been granted, it is imperative that you continue to make timely payments. When taxpayers violate the terms of an installment agreement, the IRS has no objection to the arrangement being revoked.

In-Compromise Offer

Another choice is to use the Offer in Compromise programme to try and pay off your IRS debt for less than what you owe. If you are unable to pay your tax burden, an offer in compromise (OIC) may be employed. An OIC is a proposal that allows a taxpayer to settle their tax debt with the IRS for a lower sum.

The following three situations will result in the government accepting an OIC request:
  1. The tax debt’s ability to be recovered is in question.
  1. The sum presented is the maximum that can be obtained from you in light of your financial capacity.
  2. You or your family would suffer financially if the entire tax obligation was collected. 

You will be required to make a non-refundable deposit if your OIC is approved. 

Your payment option and the amount you owe will determine how much of a deposit you must make. There are three methods to accept a compromise offer:

  1. Lump Sum Cash: You make a single payment for the total amount of the deal.
  2. Short-Term Payment Plan: You consent to making five payments of no more than the amount of the offer.
  3. You consent to paying the offer’s amount over the course of more than five payments under a deferred payment plan.
No Promises

Setting up an IRS debt forgiveness programme on your own is challenging. Taxpayers may become mired in a complex world of perplexing notions between installment agreements, offers in compromise, and other settlement options and wind up being disqualified from a debt relief programme that a tax professional would have been approved for. 

Tax Law Advocates has a track record of successfully obtaining IRS debt forgiveness and assisting clients in considerably lowering their outstanding sums via the use of effective debt reduction techniques. We have the knowledge and expertise to expeditiously and successfully get IRS debt forgiveness requests approved. Our debt relief suggestions are made specifically with your particular circumstance in mind.

Doesn’t it make sense to deal with someone who has been there before and successfully navigated the murky seas of IRS debt relief when each case is unique and there is no assurance that your debt will be forgiven? For a consultation if you believe you might be qualified for the IRS Tax Debt Forgiveness programme, get in touch with Tax Law Advocates.

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