subject: Financial Debt Taxes Guidance - How to Find a Qualified Tax Specialist to Help With Your Debt [print this page] he direct tax paid by the people constitutes a major part of the revenue for the government. Hence, it is mandatory for everyone to pay their taxes. Evasion of taxes is a crime and an unpardonable offence. Tax laws applied not only to the direct income of a person but even to the debt settlement amount which one gets from their creditors. The IRS considers this forgiven money as an extra income for the individual.
With expert advice on debt tax it is possible to get a good rebate during debt settlement. This option is beneficial and hence many debtors opt for it. Any settlement amount which is equal to or more than six hundred dollars has to be declared to the IRS directly by the creditors. However, any amount which is less than six hundred dollars has to be reported by the customer himself. A tax attorney can help you with this.
In order to locate a good tax specialist you can check for a few things.
1.You must look for a firm that conducts an in depth interview of their clients to find out if they are eligible for an IRS tax settlement. They should not extend their services of tax settlement to those who are not eligible.
2.Most of the tax specialist will not be interested in working with you if your back taxes are less than fifteen thousand dollars. When the amount is less then it is possible to work directly with the IRS to resolve your case.
3.Choose a tax specialist who is certified by the American Society of Tax problem solvers. ASTPS is a non- profit making organization which specializes in representing the tax payers in front of the IRS.
Financial Debt Taxes Guidance - How to Find a Qualified Tax Specialist to Help With Your Debt
