Tax Problem Resolution
Offer in Compromise (OIC) allows you to settle your tax debt for much less than the amount you owe. Offer in Compromise was created for those in tax debt that could not pay off their debt in full without experiencing financial hardship by doing so.
If you agree that you owe money to the IRS but your financial situation makes it impossible to do so without causing financial hardship you may qualify for a Currently Non-Collectible status.
Penalty Abatement relieves you from facing penalties from failing to file taxes or make payments on time as an individual or failure to deposit certain taxes as a business.
If you can’t pay your tax bill in full, there are many different types of IRS installment agreement, all of which have their own benefits, wherethe IRS allows you to break down that debt into monthly installments.
IRS agrees to allow you to pay only a portion of your debt over the allotted amount of time the IRS gives you. In IRS payment plans you are paying an amount less than the original tax debt amount.
A tax lien affects your financial assets, personal property and your real estate. Tax liens can vary based on your individual situation and are the government’s way of protecting their interest in the case that you fail to pay your tax debt in a timely manner.
A tax lien discharge removes your tax lien from a specific property. If you request a tax lien discharge and the IRS accepts your request, they will give you a Certificate of Discharge.
Tax lien subordination gives a creditor the opportunity to move ahead of the IRS in their claims against a property. Doing so may be necessary for real estate transactions such as a mortgage refinance where lenders do not agree to take a second lean position.
You maybe eligible for a Tax lien withdrawal if you have entered into a direct debit installment agreement or have come to some sort of an agreement regarding your tax debt.
Wage garnishment is a way the IRS can obtain your wages and earnings through your employer to satisfy a tax debt. When you obtain a wage garnishment release, the IRS agrees to not take anypart of your wages to satisfy your tax obligation.
A bank levy gives the IRS the ability to freeze your bank account and collect whatever money you have in the bank account to pay towards your tax debt. A Bank levy release will do just that, releasing your bank account so the IRS does not seize funds from your bank accounts.
Innocent Spouse Relief relieves you from paying any penalties, interest or taxes on the misreported or unreported items madeby your spouse on tax returns.
The statute of limitation is the time period established by law for the IRS to assess, review and resolve any tax related issue. Once the time period passes, the IRS is no has a claim. How can the statute of limitations impact your tax debt situation?
When the IRS is in the process of collecting past due taxes from you, including the placement of liens on your property, a Collection Appeal allows you, the taxpayer, to challenge the IRS’s action for collection and in many cases, either put a pause on their ability to collect or reverse the collection process and relieves you of any collection actions taken against you. Learn more.
If the IRS’s decision or action taken is unfair or incorrect, an administrative appeal will allow you to have a second chance to appeal the decision or action, which may lead to a more favorable outcome for your tax situation. Learn more.
Employment taxes are taxes individuals, businesses and any of their employees are expected to pay to federal, state, and local agencies. Employers refer to this as payroll tax relief.
A Trust Fund in terms of employment tax should not be mistaken with a trust fund in terms of wealth management. Learn more about trust fund penalty.
A Trust Fund Recovery Penalty is implemented by the IRS to encourage business owners to pay their employment taxes. When someone owns a small business and they fall on hard times, they may feel tempted to tap into the tax funds that they collected from their employees to stay afloat. Learn about trust fund recovery penalty assessment.
A trust fund recovery penalty interview and investigation permits the IRS (Internal Revenue Service) to collect unpaid taxes from businesses and assets of the individuals involved in the finances of the business. Read more to get help with trust fund interview.
A Current Due Process hearing could be your last chance to resolve whatever tax controversy you have with the IRS.