Threatening letters and unfriendly IRS representatives may leave you with the impression that your only choice is to do whatever the IRS tells you to do. This is simply not the truth! Don't let the IRS bully you around. You don't have to choose between unaffordable payments or allowing liens and levies to ruin your life. Take control of your tax problems with these tax debt solutions!
Offer in Compromise: An Offer in Compromise is one of the many tax debt solutions out there. You may qualify if you can prove any of the following:
- Doubt as to Collectibility: There's little chance the debt can be paid before it expires.
- Doubt as to Liability: The tax debt was assessed wrongly.
- Effective Tax Administration: Paying off the debt would cause serious financial hardship.
Before you decide to file for an Offer in Compromise, learn what really works and if the risks are worth it. There are many tax debt solutions that may work better for you.
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Installment Agreement: If you know you won't be able to give the IRS a lump sum of money, getting into an Installment Agreement is one of the best tax debt solutions out there. There are different types of agreements and different rules regarding them. Learn how you can get into one or if there are better tax debt solutions for your situation.
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Penalty Abatement: If your tax debt is growing too fast for you to manage, it may be because the penalties are growing rapidly. You may be able to remove some or all of your penalties with a Penalty Abatement. Find out if you would qualify for Penalty Abatement or other tax debt solutions.
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Innocent Spouse: If filing jointly with a spouse who did not file correctly caused your debt, you may qualify for Innocent Spouse. This is one of the few tax debt solutions that could completely clear away your debt! See if you qualify or what tax debt solutions may work better for you.
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Currently Not Collectible: If you have more bills than you have money, how can you possibly give anything to the IRS? If you can prove that there's no way you could budget in a payment to the IRS, you could be placed into a Currently Not Collectible state. This is one of the temporary tax debt solutions, but it could really give you the breathing room you need to get back on track. Get all the facts on Currently Not Collectible or learn what other tax debt solutions can take the pressure out of your tax problems.
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IRS Appeals: If the IRS sent you a tax bill that you feel is incorrect, you can appeal it! There is no need to suffer through levies and liens for a debt you shouldn't even owe. While appealing a tax debt is a lengthy and rigorous process, it is one of the few tax debt solutions that could completely eliminate a debt. Determine if you should take the IRS to court or if there are tax debt solutions that would better improve your situation.
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Need more information on what tax debt solutions are out there? Consult a professional. Call now or fill out the form below for a free tax debt consultation to see what tax debt solutions will work for you! We'll only connect you with a tax debt relief company holding at least a B rating with the Better Business Bureau.