Talking About Tax Services For Small Business Owners

A Few Options For Tax Debt Relief

If you have somehow gotten behind in your income taxes, the IRS can make things a bit difficult for you. While it may take them a few years to catch up with you and cause trouble, be aware that they will, at some point. They can put a lien on your property, seize your property, and charge you with tax evasion. If you have not been contacted by the IRS about your owed taxes, it would be a good idea to contact a tax debt relief service to start taking care of the situation yourself. Here are a few options you can discuss that can keep you out of trouble.

Offer in Compromise

When talking with the tax debt relief service representative, they are going to ask you about your current financial situation. If you are struggling and having trouble meeting your living expenses, they will see about getting a discount on the amount you owe They will work with the IRS to determine whether or not you could be expected to pay the outstanding tax debt. In addition, if you have a solid reason to doubt the amount the IRS says you owe, you may qualify for a reduction to that amount 

Installment Agreement

If you do not qualify for an offer in compromise, the representative will try to work out a reasonable installment agreement between you and the IRS. You will not have to pay a large amount, and in many cases, you will not have to pay the full amount either. The representative will work to get the IRS to agree to remove some penalties and interest from the total amount owed. They may also arrange for the debt to be considered paid in full if you stick to the arrangement for a specified number of payments. For example, if you owe $15,000 and make monthly payments, on time, of $1,000, the IRS may consider the debt paid after one year. 

A tax debt relief service wants to help you stay on the good side of the IRS so they don't try to take your assets They understand different ways to keep the government happy without putting you in financial hardship. Whether you just did not pay the taxes you owe, or you have not filed taxes for a few years to avoid paying, the IRS will catch up with you eventually. Don't wait for them to find you. Get ahead of the troubles and get help fixing the problem. 

Further questions can be addressed by contacting such a service like Randy's Tax Service, LLC.