If you cannot pay your tax bill it only makes sense to hire former IRS agents know the system to handle all tax negotiations.
We are a full service tax firm with an expertise in IRS and state tax problems.
If you owe the IRS and cannot afford pay?
IRS send out over 25 million first notices so do not feel bad.
There are many options you have available to resolve your IRS tax problem. It is always best to get some good sound IRS tax help and IRS advice to resolve your problem in the most efficient way.
Call us for a no cost initial consultation so we can discuss all the tax options in detail to best resolve your case. 1-866-700-1040.
How IRS will try to resolve your tax bill.
IRS treats all tax bills like a receivable.
There is a system.
IRS sends out a series of tax notices and bills, as a general rule the IRS will send out 2, 2, or 4 tax notices depending on the type of IRS tax debt.
Your last and final notice will be a notice of seizure and a right to a hearing.
If you do not act on the last and final notice, IRS will be sending out a bank levy or wage levy garnishment and that will probably be followed up with the filing of a Federal Tax Lien.
It is imperative you act on the final notice because it get uglier and uglier. Those taxpayers who put their head in the sand are in for very tough days when they find out one day their bank account has been emptied for the IRS is just garnished or levies their wages from IRS back taxes.
A current documented financial Statement.
As a general rule, the Internal Revenue Service will require a current financial statement to determine how they will take your case off IRS Cade 2 computer system which is the enforcement computer system at IRS uses to collect those who owe back IRS taxes.
IRS will want a financial statement (433 A,F) along with three months of bank statements, copy of all monthly bills and a copy of your pay stub to completely verify the financial statements.
After the Internal Revenue Service verifies your current financial statement there are three general tax or settlement options available.
There are 3 basic ways IRS attempts to close
1. Hardships – You simply cannot pay IRS at this time.this is called a current hardship.
Cases usually go into a 2 or 3 year suspended status because of an inability to pay. This is also called currently noncollectable.
Your case will go into a hardship status because you do not have the income coming in to meet your current expenses. The IRS will use the National Standards Program to assess hardship.You can find that on our website.
2. Payment Agreements, Installment Payments, Payment Plans
b. Payment Agreements. Cases can be closed with agreed upon monthly installment payments to the IRS. We will review the different programs the IRS uses for the lowest possible amount required.
3. IRS Offer in Compromise, Tax Settlement
The IRS may accept an Offer in Compromise based on three grounds:
1. Doubt as to Collectibility – Doubt exists that the taxpayer could ever pay the full amount of tax liability owed within the remainder of the statutory period for collection.
2. Doubt as to Liability – A legitimate doubt exists that the assessed tax liability is correct. Possible reasons to submit a doubt as to liability offer include:
(1) the examiner made a mistake interpreting the law,
(2) the examiner failed to consider the taxpayer’s evidence or
(3) the taxpayer has new evidence.
3. Effective Tax Administration/ Exceptional Circumstances – There is no doubt that the tax is correct and there is potential to collect the full amount of the tax owed, but an exceptional circumstance exists that would allow the IRS to consider an OIC. To be eligible for compromise on this basis, a taxpayer must demonstrate that the collection of the tax would create an economic hardship or would be unfair and inequitable.
Call us for a free initial tax consultation and hear the truth about owing IRS back taxes.
If you are in a current hardship or need a current installment agreement or want to submit an offer in compromise, call our tax professionals today.
Owe IRS Back Taxes and Cannot Pay? Get Help from Former IRS Agents – Tax Attorneys, Former IRS
