Ways to seek help when you owe back taxes
Tax resolution services are designed to provide relief to qualifying individuals and businesses who owe back taxes to the IRS.
If you have fallen behind on your taxes, for whatever reason, then it’s important to take action as soon as possible. The IRS will take increasingly aggressive steps to collecting that money. If you wait too long to address the issue, the IRS will legally take this money from you – right out of your bank account – without giving you a say in the matter.
They can take it out of your work paychecks, out of your checking and savings accounts, and even out of your retirement plans. Worse yet, they can file a federal tax lien, making it almost impossible for you to obtain a loan or credit of any kind – even if you plan to use that money to pay off your tax debt. All of these scenarios will only make it harder for you to pay off those debts – and harder to live.
If you’re already experiencing these tax problems, it’s not too late to get help. By seeking professional tax resolution services, you could potentially put a halt to the IRS’s collection methods and possibly reduce your tax debt too.
Common tax resolution services
-Offer in Compromise If you are unable to pay your tax debt in full, this is one of the primary tax resolution services you should seek with the help of a tax professional. If the IRS finds that you exhausted all other means for paying back all of your back taxes, they may lower your obligation to an amount that is more manageable.
-IRS Appeals If you have already received a notice from the IRS about their intent to collect unpaid taxes through wage garnishment or an account levy, you may be able to file an appeal. Your tax professional will take the necessary steps to getting the IRS off your back before the situation gets worse.
-Penalty Abatement The compounding interest and other penalty fees on your unpaid taxes can make up 25% of the total amount you owe. The longer your taxes go unpaid, the worse your debts get. An experienced tax professional will attempt to have those penalties reduced so you are better prepared to resolve your debt.
-Release of levy or liens If the IRS has already levied your accounts or has placed a federal tax lien on your property, then it’s crucial to seek tax resolution services right away. With professional representation, you may be able to put a hold on the status of the levy, or have the lien removed.
-Tax Resolution for Businesses Businesses face a variety of their own unique tax problems, from unpaid payroll taxes to missed filings and more. These cases require the expertise of a skilled tax consultant who will take steps to protect your business and its assets, while potentially relieving some of your tax obligations.
Get tax resolution services for your situation
Call US Tax Shield at 877-829-3535 for a free, no obligation consultation and tax analysis.
Rated A+ by the Better Business Bureau, US Tax Shield is comprised of seasoned tax professionals and enrolled agents who can assist you with a variety of effective tax resolution services (News.Yahoo). Contact us today to see how our tax relief solutions could help you turn your situation around.