IRS Tax Debt Relief Program – How to Get Out of Tax Debt Fast
How many times have you or someone you know gotten an IRS letter stating that there’s tax debt owed to the IRS? If you’re reading this article, chances are the answer is too many and you’re looking for some answers on how to get out of tax debt. There are multiple ways to go about it, but here’s one proven method that will help you get out of IRS tax debt fast and stay out of trouble in the future as well.
What Is A Settlement?
A settlement is an agreement between you and the IRS to pay your tax debt for less than what you actually owe. The IRS offers two types of settlements: Offer in Compromise (OIC) and Currently Not Collectible Status (CNC).
Who Can Qualify For A Settlement?
The IRS offers a few different types of relief for those who owe taxes. The first is the offer in compromise, which is when the IRS agrees to accept less than what is owed. This is only available to those who can prove that they cannot pay the full amount and that paying anything would create a financial hardship.
The second type of relief is called Currently Not Collectible Status. This is when the IRS agrees to temporarily stop trying to collect payment from you. This can be given if you can prove that paying your taxes would create a financial hardship.
The last type of relief is an installment agreement. This is when you agree to make payments on your tax debt over time.
Why Do I Need An Attorney?
Most people who try to negotiate with the IRS on their own end up paying more than they owe, and often times, much more. An attorney can help you understand the IRS tax debt relief program and negotiate on your behalf to reduce or eliminate your tax debt.
There are different types of programs available depending on your situation, and an attorney can help you choose the best one for you.
The IRS offers several tax debt relief programs, but not all of them are created equal. An experienced tax attorney can help you navigate the different options and choose the one that’s best for your situation.
If you’re struggling with tax debt, don’t go it alone.
Why Should I Hire an Experienced Attorney To Handle My IRS Tax Debt Settlement?
The IRS Tax Debt Relief Program is a great way to get out of tax debt fast. However, it is important to hire an experienced attorney to handle your case. An experienced attorney will know how to negotiate with the IRS and get the best possible outcome for you. They will also be able to help you if the IRS decides to audit you.