Tax Help News: IRS Announces it Will Ease Rules on Tax Settlements, Offers in Compromise
While the IRS announced it will loosen its rules for negotiating tax settlements to help recession-burdened Americans struggling to meet their tax obligations this year, the reality is that the IRS is still the most unrelenting collection agency on the planet.
Distressed taxpayers who want to take advantage of this unique opportunity to resolve their IRS debt will be required to provide full financial disclosure – and if they plan to do this alone without expert representation, they could end up owing the IRS more money in additional accruing penalties and interest than when they started the process.
While the IRS encourages Americans who cannot afford to pay their taxes to contact them directly, tax relief experts strongly urge taxpayers to consult with a highly qualified tax representative first, especially if they owe $15,000 or more to the IRS. This will give the taxpayers a leg up on the IRS in terms of knowing insider tips on how to qualify for an Offer in Compromise.
So even though the IRS is offering to be more flexible for troubled taxpayers, those of us familiar with their uncompromising collection tactics know that it is very unlikely that they will really start showing mercy now.
It is also good to remember that winning an Offer in Compromise may be only half the battle. In many instances, the plan that the IRS will settle for will be too expensive for the taxpayer. This is another important reason why hiring professional tax help may ease the taxpayers’ nerves. A good tax resolution firm will ensure that you qualify before you apply for an Offer in Compromise and negotiate for the lowest tax liability you can get so that you don’t pay the IRS one penny more than you have to.
Tax Resolution Services is a team of expert tax attorneys, CPAs, and Certified Tax Resolution Specialists who are here to help you with your IRS tax problems. Call our office today at 1-866-IRS-PROBLEMS for a free, no-risk tax resolution consultation or visit www.taxresolution.com.
More Tax Help, IRS News and Tax Relief Tips:
- IRS Tax Relief: Seven Common Income Tax Relief Myths That Can Get You into IRS Trouble
- Tax Relief Options Available to Americans Who Fail to File Legally Required Tax Returns
- It’s Not Too Late for Taxpayers with Unfiled Tax Returns to Resolve IRS Problems
- Tax Help: How to Resolve Your Back Taxes & Prevent Tax Problems If You’re Short on Cash This Season
- Nation’s Leading Tax Resolution Firm Saves Taxpayer Over $5 Million with IRS Offer in Compromise
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