subject: The Steps To Getting Irs Debt Relief [print this page] Is IRS tax relief feasible? The quick reply is yes, IRS debt relief is possible. It can be certainly not a given, and obtaining tax debt relief will require prompt, sincere interaction between the taxpayer and the IRS, but there are numerous avenues by which taxpayers may be given consideration and guidance in settling tax debt.
Communication
The primary tenet in getting IRS debt relief, or any type of debt relief for that matter, is to clearly and quickly converse with the IRS. For people with a big tax bill and you're certain you cannot pay it, you may be tempted to put off filing - don't! It isn't against the law not to have the money to pay the IRS, but it definitely is against the law to fail to file a timely return. When you happen to be in this example, file your return and attach a notification that you simply don't have the finances to pay. You might also request information from the IRS regarding how one can remain in compliance. The IRS will treat this very differently plus much more favourably than a failure to file. You can also send in Form 9465, Instalment Agreement Request, with your return, or you can wait until the IRS send it to you once they collect your notice that you're unable to pay.
Talking with the IRS
You may want to get in touch with the IRS by telephone, fax, or email in order to discuss IRS debt relief. You may also desire to go in person to an area office of the IRS to discuss your case in person. Despite the off-putting picture often portrayed, IRS agents will mostly be helpful and civil in helping taxpayers who would like to remain in compliance while seeking IRS debt relief. However you select to contact them, they can help you figure out a plan to avoid garnishment of wages, losing your home, losing retirement assets, or further unpleasant possibilities. Once you do setup an instalment plan, it will be crucial you closely adhere to the conditions. If the plan is revoked, the IRS won't usually reinstate it.
Enrolled Agents and IRS Debt Relief
Enrolled agents are practitioners certified by the federal government to represent taxpayers before the IRS. An enrolled agent can help you develop a plan for IRS debt relief and can then officially negotiate in your behalf with the IRS to help you implement your tax debt relief plan. It is important to note that just enrolled agents, attorneys, and Certified Public Accountants (CPA) can represent taxpayers before the IRS. Other firms can offer instruction and aid, however they can't legally represent you with the IRS in debt relief negotiations.
Offers in Compromise
If your financial situation suggests serious hardship, chances are you'll have the option to obtain IRS debt relief by means of an offer in compromise, which is basically a method to settle your obligation for less than the full sum. Offers in compromise are approved by the IRS on a case-by-case basis, yet, it is in your best interest to seek the advice of an legal professional, a CPA, or an enrolled agent before attempting an offer in compromise for IRS debt relief.
As you can notice, it definitely is feasible to seek IRS debt relief if you comprehend your options. Understand that it truly is vital that you file your taxes, even if you discover you can not pay them than it is not to file. If you happen to follow the above guidance, then IRS debt relief is within your scope.
