Settle my IRS debt- Free Evaluations- Former IRS Agents

November 2, 2010
Written by: steve

If you need help settling your IRS Debt, call Fresh Start Tax today. 1-866-700-1040
There are different ways of settling and negotiating with the IRS. You will find the different ways listed below. Most taxpayers are completely unaware of different settlement techniques.
It is imperative you use former IRS Agents and Managers who not only worked in the system but taught the system at IRS. It only makes sense, why trust your case to anyone else.
The Offer in Compromise you here so much is not for everyone and do not be fooled and think your case can be settled. Get a free evaluation from Fresh Start Tax. 1-866-700-1040
What Fresh Start Tax can do for you:

  • immediately send a power of attorney to IRS so you will never have to speak to IRS
  • make sure you are taken off the IRS enforcement action computer system immediately
  • adjust the tax liability to make sure you are paying the lowest amount possible
  • file any tax returns that need to be filed
  • settle the tax liability for the lower possible amount
  • make sure IRS never bother you again.

Different options for IRS:
1. Pay the tax amount in full – If you can afford it, this is the easiest way of settling back taxes and getting a levy released. If you pay the tax amount owed in full, the IRS will immediately stop all collection actions against you or your company and the levy will be released or removed.
2. Let the Statute of Limitations Expire – The IRS has 10 years to collect taxes from the initial date of assessment. Once the 10 year period is up, the IRS can no longer collect these taxes from you. Keep in mind that the IRS will try to extend this the statute of limitations, so be aware of any papers they want you to sign. Also be aware that certain actions extend the statue of limitations, such as bankruptcy or the filing of an offer. If you have not paid the amount owed in 9 years, it is unlikely they will be able to collect from you in the last year. Certain factors influence when cases are sent back to the field. You should read our blogs to find out those factors.
3. Set up an installment agreement – An installment agreement is a payment plan with the IRS. This plan will allow you to pay off the IRS tax amounts owed over time. It usually is a 5 year period of time. It is important to make timely payments once the installment agreement is in place or the IRS can reissue the tax levy or levies.
4. Set up a partial payment agreement – This is similar to the installment agreement, but if you can show you can legitimately not make the payments required for an installment agreement, the IRS will allow for smaller payments that may equal less than the original amount of tax owed. These are usually hardship type cases.
5. File an Offer in Compromise – If you meet the strict requirements for this type of relief, the IRS will release the levy. This is one of the best types of relief to receive from the IRS because it allows you to settle for far less than you owe.
6. Prove you have no equity in assets – If the assets the IRS is trying to levy have no equity in them, you must prove to the them that there would be no point for them to levy those assets. IRS will gain nothing from levying them and it will not pay anything towards your back taxes owed.
7. Prove you have a Financial Hardship – If you can prove to the IRS that the levy creates economic hardship. some examples of a hardship could be that you are being evicted or have a medical problem that take most of your wages or assets. If you qualify for as a hardship it is likely the IRS will release or remove the federal tax levy.
8. Post a Surety Bond – If you post a surety bond, the levy will no longer be in effect. If a levy is in place, and you cannot pay your taxes, it is highly unlikely you will qualify for a bond. If you do qualify for a bond, you may be better off paying the tax amount owed in full. Also your federal tax lien gets released as well.
9. Appeal the Levy – You can appeal an IRS levy and you will have a review if the Internal Revenue Service did not follow correct procedures.
10. File a bankruptcy – Bankruptcy settlement can release a tax levy by court order and return seized assets to you. This should be considered as a last resort. Your taxes must be 3 years or older, assessed for 240 days, and the returns must be filed for a two year period of time.
Call Fresh Start Tax Today. 1-866-700-1040

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