Settle Your IRS Debt for Less Than What You Currently Owe
Maybe you didn’t know that the IRS has an Offer in Compromise program that can be utilized by the tax payer when liability has been incorrectly assessed or when total liability is more than you can afford to pay.
Safeguard Yourself From IRS Liens
If you cannot pay your taxes, the IRS has the right and the ability to establish a lien against your property. This might be your house, your company, anything else that you own, and even assets owned by your spouse. In short, if you owe money to the IRS, the IRS may own you in only a few short steps.
Protection From Wage Garnishments
When the IRS goes about settling debts, it does not do so gently, and your employer is powerless to help you out. Once an employer receives notice that the IRS is garnishing your wages, the employer is required by law to send a percentage of your money directly to the government, even if that means leaving you with too little to pay the bills.
Protection From IRS Levies
If you owe money to the IRS, they may choose to come get their payment by levying your property. This means you might literally wake up one morning with nothing! You may find your bank accounts have been cleaned out, your assets have been seized, and your wages are being garnished.
Protection from IRS Asset Seizure
Long-time tax liability might be met with the most extreme forms of compensation by the IRS. It is within their right to seize assets- like your home, your car, and valuables such as jewelry, and collectibles to pay off the debt.
Payroll Tax Protection
In the world of taxes, the biggest sin is failing to pay your payroll taxes. Penalties for failure to pay or delinquency in filing payroll tax returns are more severe than almost any other tax penalty.
Non-Filed Returns–Done For You
Tax interest and penalties add up lightning fast. If you didn’t file a tax return because you didn’t have the money to pay what was owed, or you filed but simply didn’t pay, you’ve gotten yourself into quite a predicament.
Find Out What The IRS “Has” On You
You would be surprised to see what information the IRS keeps on file about you. Of course, gaining access to that file and then interpreting that information is best left to a professional who understands the system. There is no need, after all, to raise any red flags through your requests.
Bankruptcy Options That Work
If you are contemplating filing for bankruptcy to wipe out tax debt, interest and penalties, have a professional thoroughly review your situation prior to filing. In some cases, filing for bankruptcy will leave you with the clean slate necessary to start over.
“Innocent Spouse” IRS Relief
Under certain circumstances, you may be resolved of any misdeeds of a spouse or former spouse involving income tax fraud. Most married couples file their tax returns jointly.