How To Settle Back Taxes For Less Than You Owe
- May 20, 2019
- Posted by: Platinum Tax defenders
- Category: Tax Resolution
Do you owe money in back taxes to the IRS? If your answer is yes, then you must be feeling like you’re in a never-ending debt cycle. Even if you have a genuine reason for not filing taxes on time, your account is considered delinquent. If you don’t settle your back taxes, your debt will only continue to increase with penalties and interest. Platinum Tax Defenders offers tax relief services that can provide you with back tax help. In many cases, Platinum Tax Defenders have gotten settlements for their clients that allow them to pay much less than they owe.
While taxpayers can represent themselves in front of the IRS, many will turn to a tax attorney. A tax attorney can provide the right tax resolution solutions to you. By working with a tax attorney, you maximize your chances of a settlement and minimize your contact with the IRS.
Steps To Settle Back Taxes
It can be intimidating to owe money to the IRS. If you don’t pay your back taxes, the IRS can act on any number of collections actions, including:
- Garnishing your wages
- Seizing your assets
- Placing a lien on your property
However, you can avoid the IRS from taking these collections actions on you by communicating promptly with the IRS. As soon as you receive your first back tax notice from them, you’ll want to respond. If you rather have someone else handle it for you, contact a tax relief company. Platinum Tax Defenders works with tax attorneys and x-IRS tax attorneys who are skilled at dealing with the IRS. A tax attorney will be able to advise on what tax resolution is best for you to settle your back taxes. The longer you pay back your tax debt, the more you will owe. Therefore, it’s smart to act soon.
Options For Settling Back Taxes
The IRS offers ways to help you pay your tax debt if you can’t afford to pay all at once. A tax relief specialist can help explain your options and guide you through the tax resolution process.
An Installment Agreement is a tax relief option wherein the taxpayer and the IRS agree to a monthly payment amount. The amount that the taxpayer ends up paying is an amount that’s financially comfortable for them. A tax relief services firm can help taxpayers effectively negotiate a payment amount.
Offer in Compromise
Platinum Tax Defenders can help you effectively negotiate an Offer in Compromise deal. This tax resolution program allows you to settle your tax debts for less than you owe. Offer in Compromise will require you to make a lump sum or short-term payment plan to pay off your back taxes. If you receive approval for this tax relief plan, you can save thousands.
Tax Relief Services To Settle Back Taxes
Additional tax resolution options exist to help you pay your back taxes. To make sure you’re getting the best back tax help, work with a tax attorney. A tax relief specialist can help you determine the best tax resolution plan for you.
Currently not Collectible
For this tax relief program, you must prove to the IRS that you can’t pay your back taxes. The IRS will likely designate you Currently not Collectible if you can show paying your taxes would bring financial hardship. This tax relief option doesn’t resolve your total tax debt. However, it will give you a year or two to get back on your feet before you pay back taxes.
Innocent Spouse Relief
If you acquire your spouse’s back taxes, you have a way to get tax relief from their debts. Your way out is if you can prove that your circumstances fit within the guidelines for Innocent Spouse tax relief. If the IRS approves this tax resolution, you won’t be held liable for your spouse’s back tax debt.
Work With A Tax Relief Services Firm To Pay Back Taxes
Applying for a tax resolution program on your own can be daunting. Working with a tax resolution services firm will ensure you’re taking the right steps toward being free from back taxes. If the IRS has taken collections actions out on you, the tax relief experts can help remove those actions.
A tax attorney can also help you apply for Penalty Abatement. Depending on the type of back tax debt you have, you may be able to have all of your penalties removed. Having your penalties removed from your back-tax debt can save you thousands of dollars.
Before you attempt to negotiate with the IRS, get help settling back taxes from Platinum Tax Defenders. A tax relief specialist can help ensure you’re settling your back taxes in the best possible way.
A Tax Relief Expert Can Stop IRS Collections Actions
The best way to stop the IRS from taking collections actions on you is to prevent it. However, if the IRS has already begun seizing your assets or garnishing your wages, a tax attorney can help.
Wage Garnishment Release
The IRS can start taking a portion of your wages to pay your back taxes. If this is happening to you, it’s time to negotiate IRS tax relief. A tax attorney can negotiate with the IRS on your behalf. Platinum Tax Defenders have been very successful in getting wage garnishment releases for our clients.
Bank Levy Release
A tax attorney can also assist you with releasing bank levies. A bank levy is when the bank automatically sends the money in your account to the IRS.
Tax Lien Lifts
A tax resolution expert can also help in lifting a tax lien. A tax lien is when the IRS claims ownership over your personal property. The IRS considers your property to be your home, business, vehicle, or other valuables. An experienced tax attorney will know what to do to get the IRS to lift the tax lien.
Call Platinum Tax Defenders Today To Settle Your Back Taxes
Do you need help settling back taxes? If you owe the IRS back taxes and you can’t pay, call Platinum Tax Defenders today. Platinum Tax Defenders is a top tax relief services firm with experience getting their clients out of back tax debt. The expert tax relief team includes tax attorneys and x-IRS attorneys who are familiar with tax law and the IRS. Before the IRS knocks on your door, make sure you pay your back taxes. Tax relief experts can provide you with the help you need before it’s too late.