We know the system to get fast and affordable tax debt relief. We worked at the IRS. We know the system.

We are a full service tax firm that specializes in IRS tax debt relief.

We have a nationwide tax practice.

Our firm includes tax attorneys, tax lawyers, certified public accountants, enrolled agents, and former IRS agents, managers and tax instructors.

We have over 206 years professional tax experience and over 60 years of working directly for the Internal Revenue Service in the local, district, and regional tax offices of IRS.

While at Internal Revenue Service we taught tax law at the Atlanta regional training center.

We are true affordable tax experts in tax debt relief and are A+ rated by the Better Business Bureau.

When you call us you can speak directly to a tax attorney, tax lawyer, certified public accountant or a former IRS agent.

We will work up an individual  plan that best satisfies your current financial situation for IRS tax debt relief.

IRS Tax Debt Relief

The Internal Revenue Service has expanded its “Fresh Start” initiative to help struggling taxpayers who owe taxes.

The following four tips explain the expanded relief for taxpayers.

Penalty relief Part of the initiative relieves some unemployed taxpayers from failure-to-pay penalties.

Penalties are one of the biggest factors a financially distressed taxpayer faces on a tax bill.

The Fresh Start Penalty Relief Initiative gives eligible taxpayers a six-month extension to fully pay 2011 taxes.

Interest still applies on the 2011 taxes from April 17, 2012 until the tax is paid, but you won’t face failure-to-pay penalties if you pay your tax, interest and any other penalties in full by Oct. 15, 2012.

The penalty relief is available to two categories of taxpayers:

1. Wage earners who have been unemployed at least 30 consecutive days
during 2011 or in 2012 up to this year’s April 17 tax deadline.

2. Self-employed individuals who experienced a 25 percent or greater
reduction in business income in 2011 due to the economy.

To qualify for this penalty relief, your adjusted gross income must not exceed $200,000 if married filing jointly or $100,000 if your filing status is single, married filing separately, head of household, or qualifying widower. Your 2011 balance due can not exceed $50,000.

Installment agreements.

An installment agreement is a payment option for those who cannot pay their entire tax bill by the due date. The Fresh Start provisions give more taxpayers the ability to use streamlined installment agreements to catch up on back taxes and also more time to pay.

The new threshold for requesting an installment agreement has been raised from $25,000 to $50,000. This option requires limited financial information, meaning far less burden to the taxpayer.

The maximum term for streamlined installment agreements has been raised to six years from the current five-year maximum.

If your debt is more than $50,000, you’ll still need to supply the IRS with a Collection Information Statement (Form 433-A or Form 433-F).

You also can pay your balance down to $50,000 or less to qualify for this payment option.

With an installment agreement, you’ll pay less in penalties, but interest continues to accrue on the outstanding balance.

In order to qualify for the new expanded streamlined installment agreement, you must agree to monthly direct debit payments.

Offer in Compromise IRS Tax Debt Relief

Under the first round of Fresh Start in 2011, the IRS expanded the Offer in Compromise (OIC) program to cover a larger group of struggling taxpayers.

An Offer in Compromise is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed.

The IRS recognizes many taxpayers are still struggling to pay their bills so the agency has been working on more common-sense changes to the OIC program to more closely reflect real-world situations.

An offer will not be accepted if the IRS believes that the liability can be paid in full as a lump sum or through a payment agreement.

The IRS looks at the taxpayer’s income and assets to make a determination regarding the taxpayer’s ability to pay.

Tax Attorney, Tax Lawyer, IRS Tax Debt Relief Affordable Experts, Nashville, Memphis, Knoxville,