debt tax plan

The Best Debt Tax Plan

If this investigation shows the Tax Hardship Centre can help get you in better standing with the IRS, you will advance to the next phase, which comes at additional costs. This tax debt relief firm is focused on offering IRS tax debt plans, though they do also provide little help with state taxes. All Community Tax clients receive a services guarantee, which will reimburse your investigative fees if the firm determines it cannot help you with your tax debt.

In addition to providing tax debt relief, Precision Tax Relief offers help in securing relief from wage garnishment and garnishment, which may provide significant financial relief, should they be granted by the IRS. Victory Tax Attorneys does indeed address the IRS’s available options for reducing tax debt, such as compromises and settlement agreements, but does not address the issue of innocent spouse relief. These services include but are not limited to offering centres, instalment agreements, tax debt settlement services, penalty relief, and lien release.

When considering the best tax debt settlement companies, we chose those that offered free consultations and flexible payment plans, making their services available to anyone in need. The best tax-relief companies will assist with your tax preparation so that you can meet all deadlines, but they may also be able to file back taxes and help you minimise any penalties you are required to pay. While the IRS offers a few options for relief, here are three that you should consider if you owe back taxes.

Various tax debt settlement services are available to consumers who owe back taxes of over $5,000 or face statutory consequences with the IRS. Failing to file or pay taxes on time can lead to severe consequences, like interest accruing and property lien, which is why it is important to get debt relief from the IRS as soon as possible. An unpaid bill can balloon quickly due to penalties and fees levied by the IRS, so seeking assistance from a tax debt resolution service is one way to address the situation.

You can avoid notices and actions from the IRS intended to collect, such as a notice of federal tax lien or a seizure from the IRS, by setting an instalment plan up front and making payments on it in instalments. Eventually, the IRS may file a Notice of Federal Tax Lien against you, meaning that future creditors will be aware of your tax debt, thus destroying your ability to sell or borrow against your assets. If you are not responsible for your partner’s tax debts on the joint return, you can apply for innocent spouse relief, whereby the IRS will release you from paying taxes, penalties, and interest that your partner is owed.

debt tax plan

This company helps you apply to the IRS debt tax plan programs, including Offer In Compromise (OIC), innocent spouse relief, and the currently uncollectible status. Suppose you are not willing to pay the fees to get the assistance of tax professionals. In that case, you can work directly with the IRS to apply for a currently not collectible status, establish a payment plan, or apply for any other relief programs. Tax debt relief companies have experienced tax professionals, including tax lawyers and accountants, who understand how the system works and can design tax-relief programs, like instalment agreements, that will work best for your situation.

It can be wise to consult with a tax professional to get their opinion about the best solutions for your unique situation. With Tax Defense Networks’ conservative perspective on the solutions they can offer, you might find a solution that works better for you.

The company offers a custom tax debt payment plan to help make sure that its services are accessible to anyone that needs assistance. An Offer-in-Compromise can be a legitimate option if you cannot afford to pay the entire tax bill or if doing so would cause you financial hardship. Also known as tax reconciliation, offers in compromise are an excellent way to settle debts with the IRS when faster options are unavailable.

The IRS offers tax debt relief options for taxpayers through its Fresh Start Program. The program is a set of changes to the Tax Code to help taxpayers lower their debts with the IRS. According to IRS guidance, Offers in Compromise are considered only when the IRS has reason to believe the lower amount is the maximum it can collect in a reasonable amount of time, making it one of the less frequently offered options for reducing tax debt.

Sometimes, you can resolve tax debts for far less than they were initially due. Our experts are available as your dedicated resource for saving you as much as possible by getting your IRS debt resolved as quickly as possible. Anthem Tax Services uses a second stage to collect your financial information and creates a tax relief plan tailored to your needs. Most tax relief companies will list their minimum debt level requirements on their websites or discuss them in your free consultation to determine whether you can receive relief on state or federal taxes.

The 14-day money-back guarantee, combined with Community Taxes A+ rating as a Better Business Bureau accredited business, should give you the confidence that this is a legit tax debt relief company that can deliver the results you are looking for. Anthems’ money-back guarantee is one of the best in the business, offering you all your money back if they cannot get some resolution from the IRS – reducing the payment amount or forgiving your debt.