As citizens of any nation, the working population’s biggest obstacle is the payment of taxes. Let us see the various issues faced while paying off our taxes.
- Ending up with a significantly large tax debt: Think about establishing a payment plan with the IRS or the various OIC options provided by the companies to its taxpayers. Such OIC options have played a significant role in reducing a massive amount of tax liability to its taxpayers. Taxpayers only pay off a small portion of the debt as the final settlement. The taxpayer must demonstrate that either paying the entire amount that he/she owes would put them in an unreasonably difficult financial situation or that the amount that is to be paid is inaccurate or he/she is unable to clear off the tax liability within due time. The capability of the taxpayer to pay the full amount that is due is evaluated by the IRS while reviewing each OIC on an individual basis taking into account aspects including the person’s income, expenditure and assets. The debt will be fully settled if the OIC is approved, sparing the taxpayer from additional collection efforts. Also read about Late or Unfiled IRS Tax Returns
- Facing a tax lien: The best way to deal with a tax lien is to repay the due amount wholly or work out a payment arrangement with the IRS. The rational method is to make arrangements with the IRS to repay the amount in instalments which we might do on your behalf.
- Not submitting the taxes: The only solution to this issue is to file all your previous returns and forms immediately. A different approach to reducing such penalty amounts is the ‘Penalty Abatement Service’. We help taxpayers and our clients to pay a very small amount to their tax liability and lower their tax bill by making use of this service. This service’s main goal is to lessen the penalties that are ordered by the IRS for breaking the law on taxes that are due. A plea for a penalty abatement must be filed with the IRS along with a strong argument as to why such penalties ought to be eliminated or minimised. To decrease or eliminate the penalties and reduce the amount of tax owing, we can help you argue your case in front of the tax authorities and negotiate with them on your behalf. It is significant to remember that you might not be lucky enough to get your penalties suitable for abatement and the tax authorities play the least important role in determining whether to approve or reject such requests. Our company is experienced in this field if you have a legitimate justification as to why you haven’t been able to pay your taxes and failing to abide by tax laws.
- Having a tax disagreement: Collaborate with a tax professional hire a tax lawyer or depend on the IRS to resolve the conflict. We offer the best tax lawyers that can cater to your tax needs and requirements.
