Issue regarding taxes is one of the most common reasons why an individual seeks the assistance of financial analysts, CPA or a lawyer. According to statistics, more than 40 percent of people in the United States face problems with their tax debt sometime in their life and this percentage increases every year. Most tax penalties that individual incur comes from people’s lack of knowledge regarding the common tax resolutions and settlement that the IRS offers. It is never too late to find the company that provides honest and trustworthy tax resolutions to settle your debt for less.
IRS Settlement Options: Offers in Compromise
This is the most favorable option to the part of the taxpayer and one of the best options for tax resolutions to settle your debt for less. A compromise resolution maybe given to an individual who is identified as a tax debt holder after determining that he is unable to pay his outstanding tax debt in full amount. This can be granted to the taxpayer if there is doubt in the accuracy of the tax calculation, or his incapability to pay tax has been evaluated. Although beneficial, this option is not easily granted to the taxpayer, but a skillful legal assistant can really make a difference.
These tax resolutions to settle your debt for less include both partial installment options and installment options. The latter allows you to pay your tax debt for less on a monthly basis with interest. This is especially applicable to individuals who have been a victim of fraudulent transactions or scams such as Ponzi scheme. Partial payment agreement is a debt management process similar to installment agreement. The payment style for installment agreement much resembles paying for credit card negative balances.
Filing for Bankruptcy
Some of the individuals with income tax debt can file for bankruptcy eligibility. This is one of the most common tax resolutions to settle your debt for less used by business owners. There are numerous guidelines that will determine your eligibility for bankruptcy, and your tax resolution professional will help you go through that evaluation.
Not Currently Collectible Option
This one of the most favorable tax resolutions to settle your debt for less that grants an exception to an individual and removes his or her obligation to pay the full amount of his or her tax debt after an evidence has been filed proving that the said individual do not have any capacity to pay his or her tax debt.
How We Can Assist You
We offer the best professional services to help you find the most cost-effective tax resolutions to settle your debt for less. Our established reputation separates us from other tax assistance companies in Orange County. Our experts can assist you by evaluating your financial capabilities and assisting you to determine your best interest from all the available tax resolution options that the IRS can offer.
There are numerous tax resolutions to settle your debt for less, but finding it out on your own is a big risk. Finding the right company may sound difficult but our tax debt professionals can always guide you in this process, equipped with updated IRS strategies to give you the most favorable tax resolutions to settle your debt for less. Settle your tax debt right now by visiting us right here.