If you owe back taxes, you should endeavor to resolve that situation with the IRS as soon as possible. Find out how getting tax help from a tax resolution pro can help you get your financial situation back on track.
Owing back taxes is a recipe for financial disaster. When you owe the IRS money, that debt will continue to grow until you pay it off. Eventually, you may face various penalties including tax liens, wage garnishment, and seizure of your property or assets. The good news is that there are professional tax resolution experts available to help you manage and minimize your tax debt. Find out how your local tax resolution pro can help you today.
The first thing that a tax resolution expert will do is to help you unpack your specific tax situation. This means laying out how the tax debt was incurred, identifying where the debt stands right now, and discussing what options are available in terms of resolving it Tax Expert . As part of this, your tax pro will take into account your current financial situation and will work with you to propose a plan of action that is actually reasonable and workable in your current circumstance.
Once this information is on the table, your tax resolution pro will be able to communicate with the IRS on your behalf to inquire about a tax resolution plan that will work for all parties involved. This means that you have a professional on your side who is able to understand the technical terminology and legalese of the IRS, and who can make sure that you and the IRS are communicating as clearly as possible.
In communicating with the IRS, your tax relief pro will also be able to investigate how to most effectively reduce your tax debt and help you get your life back to normal. If the IRS has taken action against you (such as garnishing your wages), your tax relief pro has the capacity to appeal that government action. They can also look into an offer in compromise, which is a settlement reached by you and the IRS to resolve your tax debt for less than the total amount owed. All of these actions have certain prerequisites and required documentation, and they are not applicable to every person or every situation. Your tax expert will be able to help you navigate these waters to determine if and how various debt reduction actions can work for you.
In addition to working with the IRS to resolve your tax debt, your tax resolution experts will also be able to help you assess and file back tax returns in order to make sure everything gets squared away officially. After dealing with the back tax returns, your tax pro will also be able to advise you on current or upcoming filings so that they go smoothly and without incident. That way, your tax slate can be clear with the IRS from then on out.