The IRS is usually relentless in their pursuit of collecting outstanding tax debt. The stress and pressure that is often placed on individuals and families can be overwhelming. Professionals with expertise can be an incredible source of assistance when it comes to dealing with the IRS (or other State Tax Authorities) regarding back tax amounts owed or a wide range of other tax related challenges. Here are the benefits of working with these Experts:
No longer have to speak or meet the IRS
One of the major benefits of using an Expert is the fact that they are able to put their knowledge and experience to work for you so that you can reach the best possible settlement or solution for your tax problems. After all, when dealing with the IRS or State Tax Authority, the Professional Tax Resolution Expert takes the burden away from you.
Reduce overall tax debt balance
The total amount you owe the IRS is often compounded by additional penalties and interest, and may involve more than one tax period or issue. These penalties and interest are automatically assessed to your account by their computer system; however you may not actually have to pay these additional assessments.
A professional Tax Resolution firm can evaluate your situation, and depending on the circumstances behind why you owe the debt, can oftentimes have these penalties removed from the total balance owed. This applies to the interest accruing on your balance as well, which can really add up over any length of time.
Avoid bank account levy
Similar to a property seizure, the IRS can also implement other actions to collect past due taxes. This levy action will occur after the IRS sends several written notices and warnings, yet still takes many people by surprise when they find out their bank account has been cleared out overnight.
Imagine the nightmare of waking up one morning only to find that the IRS followed through with their threat of levying your bank account, and realizing that the money in your account that you were going to use for bills, rent, or other items, is no longer yours to spend.
But this is just another example of a situation that can be avoided by having a professional Tax Resolution firm help you to even get the levy released. You should contact them the moment you receive that first threatening letter from the IRS.
Stop or prevent a wage garnishment
Garnishing your wages is yet another tool the IRS can implement to collect past due amounts owed to them. This adjustment to your paycheck can be financially devastating to your household income, usually taking somewhere between 30-75% of your NET paycheck before it makes it into your hands.
The IRS legally requires an employer to comply with their collection efforts and the wage order stays in effect until the IRS releases it, usually not until the entire amount owed to them has been collected.
A skilled Tax Resolution firm can appeal to the IRS on your behalf and have the garnishment of your earnings reduced to a more reasonable amount or oftentimes stopped altogether.
Settle unpaid debt for less than you actually owe
The IRS is often willing to negotiate with taxpayers regarding outstanding tax debt. This is true because of the fact that they would rather collect a lesser amount than nothing at all. But entering into a settlement negotiation with the IRS can be risky territory, especially if you are not fully aware of all of your rights or settlement programs available to reduce your tax debt
This is another area where Experts that specializes in Tax Resolution can assist you. By negotiating with the IRS on your behalf, they can usually reach an agreement that not only significantly lowers the total amount you owe, but also makes the terms of payment simple and for a shorter period of time.
Get caught up on unfiled (delinquent) tax returns
It is estimated that 1 in 6 Americans (26 million people) is currently struggling with tax problems. Many people let these problems grow and compound over years and end up failing to file tax returns, figuring they are already in enough trouble with the IRS as it is. Working with a professional Tax Resolution firm can also offer benefits by helping you get caught up on any back tax returns you may still need to file.
Audit defense help
One nightmare that most people fear is being audited by the IRS. A professional Tax Resolution firm will stand by you through this process and make sure that everything you need to provide to the IRS is covered. While the odds of being audited are low, it is nice to know you have someone on your side if you need them.
Avoid impact of lien on your credit score
The IRS will often file a lien because of outstanding tax debt owed, that information will show up on your credit report since it is considered a judgment, and will remain on your credit report for 7 years after you have repaid it or 10 years if you ignore it. This information can definitely impact your overall credit score and sometimes even potential employment.
Avoid an IRS property seizure
In some extreme cases, people have lost their home or other property because of past due tax debts. Although a property seizure is one method that the IRS can use to collect amounts owed, it is usually a last resort for them.
However the number of IRS property seizures has increased dramatically in the last decade. An experienced Tax Resolution firm can help you avoid becoming one of these alarming statistics.
Enjoy piece of mind
The stress and pressure that can be placed on an individual or family because of outstanding tax debt can be so overwhelming and can even cause major problems in the lives of people who are struggling with it. It can seem like the easiest solution is to run and hide from the problem, but let’s face it, the IRS is one powerful and relentless authority and when they want their money, chances are they will find you.
Tax problems will not go away on their own. The only way to make them disappear is to face them and address them as they arise. Having an experienced Tax Resolution firm on your side to help with all the complicated policies and procedures can help your stress, as well as, overall mental health dramatically.
Although facing the IRS and State Tax Authorities can be a very scary and intimidating experience for many people, it doesn’t have to be so difficult. There are many options to help reduce or sometimes eliminate the tax debt you owe, but trying to handle it on your own can be equally challenging. Working with a professional Tax Resolution firm is your best bet. These knowledgeable, experienced and skilled Experts can help you handle everything necessary to get your tax problems resolved once and for all.
TIP – to obtain the best results, contact the best dedicated team of Professional Tax Advisors call to schedule an appointment with one of our Professional Tax Resolution Experts if you have any questions or concerns regarding your Tax Problems. We help clients to resolve their IRS/State Tax Problems every day for over 40 years of trust.
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