When a taxpayer ignores the written notices from the state or IRS for long grave steps maybe taken to forcibly claim the unpaid taxes. It can be in the form of a bank levy or property lien. Therefore, it is better not to ignore the communications and discuss with a tax authority ti resolve your issues.
Atlanta tax resolution services can help you get out of this misery efficiently and discreetly. Tax matters don’t vanish but keep getting worse with interest and penalties accumulating as days pass. The issues that need support from a professional are –
- Tax audit
- IRS liens, levies & garnishments
- Back taxes owed
- Back tax returns non filed
- Payroll tax dilemmas
- Property & asset seizures
How does a tax resolution service help?
Hiring the tax resolution services means you have professionals representing you or your brand. They are well-trained and experienced, so know what is allowed on financial disclosure. The team analyzes your financial status to determine the kind of resolution you will be eligible for.
Several taxpayers are eligible for an installment agreement. It sounds horrible to pay the due taxes along with the current ones, but your tax resolution representative will wisely negotiate the terms. The installment payments will be as low as possible, which can make a huge difference in keeping your business doors open or close.
Strategies used for tax resolution
- Offer in compromise – It is a partial settlement for your overall tax liability. There has to be some exceptional reason why you are unable to pay the total amount to the IRS.
- Installment agreement – It is a monthly and regular payment plan the representatives make with the IRS to pay the owed taxed liability within a specific period.
- IRS collections – You can preserve your rights because the tax resolution services will use the best option to resolve tax liability and the IRS collection activity will be taken back. The IRS is a powerful bill collector and can place a levy on bank accounts, property liens, and wage garnishments.
- Bankruptcy – In some situations, the taxpayer is eligible to file bankruptcy and get discharged from tax liability r repay through the bankruptcy plan.
- Penalty abatement – It is a formal request revealing reasonable causes that can be made to eliminate or reduce the tax interest and penalties on underlying liability.
- IRS tax appeal – IRS decisions or actions associated with audits, liens, levies, penalty abatement requests, offers in compromise, etc. can be appealed if you disagree.
- Innocent spouse relief – A joint income tax return is filed by married couples, so both are responsible for the total tax liability. If you feel that your former or current spouse is liable for the tax issue then with the help of a tax resolution representative you can make an innocent spouse relief request.
Every situation differs. You need to consult a licensed tax resolution service in your locality. There will also be a need to have your bookkeeping done properly, according to IRS standards. Working with professionals, you can be assured that your tax liability negotiations will be done with your interest in mind. Remember, your tax liabilities may not vanish, but you get the best possible results.