IRS Tax Debt Relief Programs

Tax debt relief can be a lifesaver for taxpayers who are struggling to pay their taxes. If you find yourself in significant tax debt, it’s important to seek help as soon as possible.

Fortunately, there are many options available for tax debt relief, so you can find the right solution for your specific situation.

What is tax debt relief?

Tax debt relief helps taxpayers who owe money to the IRS or other taxing authorities. While tax debt relief is fairly uncommon, the relief is not impossible and every individual situation requires an independent professional assessment.

Tax relief typically comes in the form of payment plans or settlements. The best option for you depends on your IRS debt.

IRS Relief Options

The average tax debt in the US is $16,849. Mostly because of owing more money than expected. It’s crucial to get your debt resolved as soon as possible to avoid serious penalties and even criminal charges.

In most cases, you can turn to a qualified tax relief company to help you resolve your tax debts. There are several options available to you.

Installment Plan

When you can’t afford to pay your tax bill, don’t wait! You want to avoid a failure-to-pay penalty to rack up even more tax debt. If you fill out IRS form 9465, you can have the opportunity to make your case with the IRS on why you couldn’t pay your tax bill.

Doing so will give you the chance to pay off your entire debt in the form of monthly payments.

IRS fresh start Program

The fresh start program was designed to help taxpayers undergoing financial hardship resolve their overall tax burden through monthly installments. However, you have to meet certain criteria to qualify for the program.

Offer in compromise

When your overall tax debt is simply too much to pay even through a payment plan, you can settle it through an offer in compromise with the IRS.

The Offer In Compromise (OIC) program allows taxpayers to negotiate with the IRS on incorrectly calculated tax liability they can not afford to pay. This means that you have the opportunity to pay your tax bill in a lower amount than your original taxes owed.

Innocent Spouse Relief

If your spouse (or former spouse) has been accused of fraudulent taxing activities, you may qualify for innocent spouse relief. Save yourself the trouble of taking a hit from someone else’s mistakes.

Several conditions have to be met in order to qualify, so it’s worth your time to check the official IRS page on innocent spouse relief.

Find a Trusted Tax Debt Relief Company

If you find yourself in trouble with the IRS or other taxing authorities, let us know. We have a team of experts who can help you get back on track and avoid harsh penalties from the Internal Revenue Service. The options for tax debt relief are many, but it’s important to act fast before the situation gets worse. Don’t wait until it’s too late – contact us today for a free consultation.