Let’s face it. Life happens. Planning for the unexpected isn’t always feasible. That’s why there are IRS tax relief options to help you stay afloat when you feel like you’re drowning in a sea of tax debt.
Yes, the Internal Revenue Service (IRS) does provide relief for taxpayers. It is not, however, guaranteed. The IRS takes many things into consideration when determining your eligibility for any of its tax relief programs. This includes your ability to pay, current income and expenses, as well as your assets. If you have essentially no income, the IRS may deem your account as “Currently Not Collectible,” but this is just a temporary measure. Although you won’t be required to make payments and all collections against you will cease, the tax debt will continue to collect interest and late penalty fees. Eventually, you will need to deal with the debt. In most cases, IRS tax relief is provided through approved payment plans and/or tax debt settlement.
Taxes are complicated. There is no “one size fits all” solution for everyone. The key is to act swiftly. Failure to address your tax debt will only result in penalties and fees. If you wait too long, the IRS may take other measures, such as garnishing your wages or placing a lien on your property. That’s why you should work with an experienced tax professional to determine which tax relief option is best for you. At Tax Defense Network, we’ve helped thousands of clients keep their heads above water. Depending on your situation, you could be eligible for one or more of the following IRS tax relief programs.
Installment agreements, also known as payment plans, allow you to pay your tax debt over a set period of time, instead of a lump sum.Learn More
The Fresh Start Initiative was created to help even more taxpayers qualify for IRS tax relief.Learn More
If you are facing a financial hardship, you may be eligible to settle your tax debt for less than you currently owe.Learn More
Under certain circumstances, you may be able to relieve yourself of your spouse’s tax burden through Innocent Spouse Relief.Learn More