IRS Debt Settlement Options

Dealing with an IRS debt settlement issue that you can’t handle? If you want to know what your options are, call Nationwide Tax Group to find out more 800-632 -1750.

If you owe the IRS back taxes, there are various options when it comes to tax debt settlement. A taxpayer may end up with IRS tax debt due to varying scenarios. Bottom line, once it’s assessed, it needs to be addressed or your life can turned upside down in the worst way. The most important step you can take at this moment is to formulate a plan for an IRS debt settlement.

You do have options, based on your current financial status, and the amount that you owe for your IRS tax debt. Some options below include:

• Tax Debt Settlement -If you would like to have a professional assess and negotiate your IRS state or Federal tax debt, our team of IRS experts will be able to help you.  We will analyze your financial situation and find which tax settlement method will benefit you and would work best for you. There are many different forms of IRS settlement options available.

• Offer in Compromise -You must meet certain criteria. The IRS has strict guidelines they must follow to approve this option. Sufficient proof must be submitted. This can be a great bargaining tool for someone who meets the criteria such as extreme financial hardship, doubt exists as to whether your tax debt was frivolously assessed, or “doubt as to Collectability” as in, in the foreseeable future you will not have the income necessary to repay the IRS tax debt.

• Penalty Abatement-Often the IRS will remove or abate certain penalties that have been added to your IRS tax debt. This is an option we use on a regularly basis because one third of all penalties are usually eliminated.  We have had tremendous success with our abatement program because many of the penalties were higher than the original tax debt  for some of our clients.

• Partial Payment Installment Agreement-This option is similar to a regular installment agreement in the sense that you are acknowledging and agreeing to repay your IRS tax debt. It differs because this arrangement is set up to be less than the original amount assessed, due to passing the “Statue of Collection” process. It allows the portion of the IRS tax debt to be eliminated completely. You will no longer be responsible for the entire amount.

We want to let you know that we understand you are one of many taxpayer’s facing this situation and having IRS tax debt. Nationwide Tax Group can help in significantly reducing or removing part or all of your IRS tax debt. We have a qualified and experienced team of IRS expert’s such as Certified Public Accountants, Attorneys and Enrolled IRS agents ready to challenge your IRS tax debt amount. We would be happy to help you with settling your IRS tax debt and setting up your settlement agreement.

Should you be interested in finding out more, please fill out our online submission form or call for a free confidential, IRS settlement analysis.