There Are Tax Debt Services Available To You

Posted on 28. Aug, 2011 by in IRS

Let us suppose you have an outstanding tax bill from the Internal Revenue Service and you are sorely in need of tax debt services.

Is there anyplace you can go? Who is there to provide those tax debt services?

Actually, a good place to start is with IRS but that doesn’t mean you must just rely on IRS assistance alone. There is the option of retaining paid professional assistance.

IRS constantly stresses its willingness to work with delinquent taxpayers in an effort to fairly solve their problems.

In fact, in February 2011, the agency announced its new initiative “to help struggling taxpayers get a fresh start” by establishing new policies and programs to assist taxpayers pay back taxes and avoid tax liens.

The full menu of new tax debt services included the following:
– Significantly increasing the dollar threshold when liens are usually issued.
–    Making it easier to obtain lien withdrawals after a tax bill is paid.
–    Withdrawing liens in most cases when a taxpayer enters into a Direct Debit Installment Agreement.
–    Creating easier access to Installment Agreements for small businesses.
–    Expanding a streamlined Offer in Compromise program.

This all sounds good but what does it actually mean in real life? What kind of tax debt services is IRS really providing?

We can use the example of a small business with $25,000 or less in unpaid taxes. Previously, only those small businesses with a tax debt under $10,000 could participate in an Installment Agreement. They will now have 24 months to pay the bill in its entirety.

According to IRS, the streamlined Installment Agreements are available for small businesses that file either as an individual or a business. Small businesses with an unpaid tax bill of more than $25,000 would qualify if they first pay down the balance to $25,000 or less.

This is a good example of the type of tax debt services that are available from IRS.

However, you may not feel comfortable in trying to secure their services on your own.

At almost any point, excellent tax debt services are available through certified public accountants and tax attorneys.

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