All the information you need to make an educated decision
Tax Debt Relief
Tax debt relief comes in many different forms, each of which varies depending on how much you owe, to whom you owe it, your current financial situation, and any applicable penalties. Therefore, describing tax debt relief in one simple paragraph is all but impossible. Please take advantage of the helpful guides that follow to find your debt solution:
Offer in Compromise
An offer in compromise can be the best solution for ridding yourself of tax debt to the IRS. In this offer, your debt is cut substantially on the assumption that you will be able to pay off the smaller amount, and the guarantee that you will pay your taxes for the next five years. This is a formal contract between you and the IRS. Therefore, it needs to be negotiated carefully by a tax specialist, who you can find on DebtHelp.com. Read more about offer in compromise.
Tax Penalty Abatement
Tax penalties normally are added onto taxes you owe to the IRS, as this is an automated process performed by a computer. Sometimes, these penalties can be inaccurate or completely unwarranted. Working with a tax specialist can help you fight and dismiss such penalties, as trying to do it yourself can be very difficult. Read more about IRS penalty abatement.
Wage Garnishment Release
When taxes owed to the IRS go uncollected for a long enough period of time, liens or wage garnishments can soon follow. Such actions can stretch your budget to the point where you can no longer support yourself or your family. The tax specialists here at DebtHelp.com can help you negotiate a wage levy release, and can potentially freeze all future collection activities by the IRS. Read more about wage garnishment release.
IRS Payment Plans
Regardless of tax type (payroll, employment, income, etc.), IRS payment plans can be a great solution to dealing with the burden of a large tax debt. IRS payment plans are interest-free and can be negotiated by a tax specialist/professional. This can be an excellent alternative for someone who does not, or cannot, organize an offer in compromise. Read more about IRS payment plans.
How to Solve Tax Debt Created by a Spouse or Ex-Spouse
Did your spouse or ex-spouse leave you with a tax debt problem, as well as a broken heart? Regarding the tax debt problem, you may have options. Here are two.
Five Personal Problems You Should Mention In an IRS AuditWhen working with the IRS to solve a tax debt problem, it's no use claiming "the dog ate my homework." However, certain personal situations do deserve mention.
Tax Debt and Bankruptcy: Five Things to Keep In MindYou cannot automatically get rid of a tax debt through filing bankruptcy. However, you can take certain measures to ensure that bankruptcy helps you get your tax debt problem under control. Here are five things to keep in mind with regard to bankruptcy and taxes.
Top Five Tips for Handling an IRS AuditHandling an IRS audit isn't easy, especially when a significant tax debt is in question. Here are five suggestions for dealing with an IRS audit.
Should You Hire a Tax Debt Attorney? Three Ways to DecideAttorneys can be expensive, and tax debt attorneys are no exception. Before hiring a tax debt attorney to handle your case, look for these three signs that you may really need one.
IRS Spousal Tax Relief
It is not necessary that a couple be divorced for a spouse to seek tax relief. There are actually three different…
IRS Wage GarnishmentIf you fail to pay your federal taxes, the Internal Revenue Service (IRS) has a variety of methods that it utilizes to obtain due money – none of which will be better for financial situation that paying outright. One of the most debilitating…
IRS Powers to Collect DebtIn 1988, real estate tycoon Leona Helmsley faced a prison term for defrauding the U.S. government of $1 million in…
IRS Offer in CompromiseMany lawyers specialize in IRS negotiation strategies. A competent lawyer (sometimes a former IRS agent him- or herself) can turn a $50,000 debt into $8840, $105,000…
IRS and Penalty AbatementPenalty abatement gives you the opportunity to plead your case to the IRS. Unlike most other claims for…
