Tax Debt Help – Settlement & Negotiation
Tax Debt Help – IRS Tax Help – Any kind of Help with Debt
Tax debt help is just a few steps away with Defense Tax Partners. Our goal is to help tax payers find tax debt settlement solutions to IRS tax problems. We provide assistance in settling tax debt by negotiating with the Internal Revenue Service on your behalf, saving you thousands of dollars. We can help with preventing or removing tax levies, tax liens and wage garnishments and work to prevent property seizures for outstanding tax liability.
We understand that time is of the essence when dealing with tax debt settlement issues. We will quickly contact you and begin working on your tax solution once you fill out our online contact form. Upon approval, you will make your initial deposit and we get started right away on tax debt negotiation to secure a tax debt settlement and save you thousands. Tax debt could be extremely stressful to deal with.
Get helpful tips, advice and help with debt or any kind of irs help on discharging your tax debts through bankruptcy, reducing your tax debts through an Offer in Compromise, requesting affordable installment agreements, or setting up payment plans.-
TAX DEBT HELP GET OUT OF IRS TAX DEBT IRS PAYMENT PLANS
If you haven’t filed your taxes, you are generally in a more advantageous position. That’s because you can still take every tax deduction you are legally entitled to in order to reduce your tax liability. More tips on filing back taxes. If you’ve already filed taxes, your tax professional should quickly review those returns to determine if they’re accurate & if you were entitled to deductions you didn’t notice.
Amending a return needs a large amount of paperwork & reprocessing. Amended returns must thoroughly be accurate with many supporting documentation, or else you risk an IRS audit. Generally speaking, you’ll want your tax attorney to retrieve a complete set of documentation from the IRS and compare that information to the tax documents you already have. After a thorough review of your tax situation, the tax professional will advise you whether it makes sense to file an amendment.
Never Ignore the IRS
The IRS has a pretty decent system in place for dealing with people who do not pay their tax bill (knowingly or unknowingly). The system includes a variety of penalties and actions against you:
Tax Penalties: The Failure to Pay Penalty is one-half of 1% of the unpaid tax for each month the tax is owed (not exceeding 25%). The Failure to File a Penalty is 5% of the unpaid tax, and the interest rate is the federal short-term rate plus 3%.
Actions against You: The IRS can put a freeze on your bank account as well as drain it to pay the bill. If you have property, then they can place a tax lien on your property. Also, they can put a levy on your wages of between 30-70%, depending on your living expenses.
Get Out Of Tax Debt Tactics
Tax Debt Help – IRS Tax Help – DefenseTax
The best way to pay off your tax debt is to pay it all in one chunk. But what if you cannot afford to do that? Fortunately, the IRS offers several payment alternatives to help ease your burden:five strategies for getting out of debt.
Related: 10 Ways to Settle Your IRS Tax Debts For Less Than What You Owe
Picking the right installment agreement to pay off your federal tax debts
a monthly payment plan for paying off the IRS.If you owe $25,000 or less (combined taxes/penalties/interest), and you need up to 60 months for repayment, then you can set up an installment agreement request through the OPA form above, or by filling out Form 9465: Installment Agreement Request. For balances over $25,000, you will be required to complete a financial statement to determine the monthly payment amount for an installment plan.
The important thing is knowing which installment agreement you qualify for, so that when you or your tax accountant talks to the IRS, you’ll be able to let the IRS know which type of installment agreement you intend to set up.
1 – Guaranteed Installment Agreements
2 – Streamlined Installment Agreements
3 – Partial Payment Installment Agreements
4- “Non-Streamlined” Installment Agreements – Read more in detail on our blog.
Partial payment installment agreement:
a fairly new debt management program where you have a long-term payment plan to pay off the IRS at a reduced dollar amount. If you owe $25,000 or less (combined taxes/penalties/interest), you could utilize the Online Payment Agreement (OPA) in order to request an additional 30 to 120 days to pay. Requesting a partial payment installment agreement with the Internal Revenue Service can be less time-consuming and easier than requesting an offer in compromise. In a partial-payment installment agreement, the taxpayer makes the usual monthly payments to the IRS, however, the payments don’t pay off the tax debt entirely. After the fulfillment of the terms of the installment agreement, the remaining tax debts are forgiven. Partial-payment installment agreements are one of the various ways to get out of tax debt. How to Set Up an IRS Payment Plan With This Easy Guide
( TAX-DEBT-HELP-GUIDE – DOWNLOAD FREE)
Offer in Compromise:
A program where you could settle your tax debts for less compared to what you owe. Needs to make a payment plan that’s short-term or lump sum to pay off the IRS at a lesser dollar amount. The IRS may consider allowing you to pay less than your bill through an Offer in Compromise. In general, the IRS will, “make an approval for an offer in compromise when the offered amount represents the most we can expect to collect within a time period that’s reasonable.” Your ability to pay, income, expenses, and asset equity will all be taken into consideration for this route. Find out more plus see the application package through Form 656 Booklet: Offer-in-Compromise.
Currently Not Collectible:
Where a program that the IRS voluntarily agrees to not collect on the tax debt for 1 year or so. Currently Not Collectible means that taxpayers has the inability to pay their tax debts. “Currently not collectible,” can be declared by the IRS for a taxpayer after the IRS obtains evidence that a taxpayer has the inability to pay. Usually, such evidence is obtained from the taxpayer on IRS Form 433-F (other tax forms), Collection Information Statement. A taxpayer can make a request for a status of “currently not collectible” by having Form 433-F submitted to the IRS Automated Collection System unit or an IRS Revenue Officer.
Discharge your tax debts under the firm rules of Chapter 7 or 13 bankruptcy petition. Filing for bankruptcy is one of five ways to get out of tax debt, but you should consider bankruptcy only if you meet the requirements for discharging your taxes. Tax debts are related to a particular tax year and tax return. The bankruptcy law lays out certain criteria for how old a tax debt should be.
Get Help With Your Tax Debt:
However. In many cases, taxpayers who owe the IRS & are trying to solve their tax debt via a Currently Not Collectible status, Offer in Compromise, or Installment Agreement, don’t require a tax attorney. As a matter of fact, many delinquent taxpayers looking for a resolution to a tax liability owed to the IRS could secure their own resolution. Some just want guidance to solve their own tax debt.
If you do require help getting started, Defensetax will do an investigation on your IRS tax debt case and provide you with the knowledge, tools and guidance necessary to resolve it yourself. We will make it simple for you to solve your own tax debt! But if you would prefer full-service representation of your tax liabilities, we will recommend a licensed, reputable trusted tax attorney to represent you.