Irs Tax Debt Relief

Congress approved a tax debt relief act extension twice.

Irs tax debt relief. A tax relief program is a type of irs debt solution that reduces the total amount of tax debt owed. Get up to date status on affected irs operations and services. Irs tax relief programs are available to people who either can t afford to pay their tax debts. Lifeback tax is the fastest easiest irs tax debt relief solution.

Notification effective april 27 2020. Irs tax debt relief if you owe the irs money there are some important factors to keep in mind. However the tax debt relief act extension proposed in 2017 has yet to pass through house committees so it s uncertain if the tax forgiveness will continue. The application fee for offer in compromise is 205 unless you qualify for the low income certification or submit a doubt as to liability offer.

Usually this relief comes in the form of a payment plan or debt settlement with the irs. The first thing to note is that the irs is like any other lender they are interested in collecting what they can when they can. An offer in compromise allows you to settle your tax debt for less than the full amount you owe. Latest updates on coronavirus tax relief irs mission critical functions continue.

We continue to process returns and issue refunds but we are experiencing delays due to limited staffing. The irs charges a failure to pay penalty of 0 5 of your unpaid taxes per month or part of a month plus interest. The tax resolution companies referenced herein are not law firms nor are such representations being made. On a daily basis we handle the most difficult cases of tax debt problems ones that the majority of cpas accountants and tax preparers don t even want to touch.

The best tax debt relief companies will work with the irs in advance to investigate your circumstances and figure out where your tax debt comes from and what initiatives and programs you are qualified for. Out tax relief team is made up of cpa s attorney s and every type of tax professional that can handle any type of problem requiring irs tax relief. If you think you need tax debt relief act quickly to resolve your issues. While they may employ attorneys cpa s and enrolled agents pursuant to irs regulation circular 230 the use of the term tax attorney is used as a general or generic term referencing attorneys seasoned in aspects of tax relief and collection work.