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Tax Problem Q&A-Can A Tax Pro Help Me with My Tax Debt?

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Question: I’m in deep trouble because I have too much tax debt and not enough income. There are many reasons for this: bad tax advice, recklessness on my part, and most recently (and tragically for me) a significant loss of income. I’m petrified about the future. Can you help?

Answer:  First of all, I’m very sorry to hear about the position you’re in. While it may not be completely consoling, please know that you are not alone – roughly one in six Americans has a tax problem.

The good news is that you have options. The first thing you will want to do is consult with a qualified tax professional to help you determine which option is best to resolve your tax troubles for good. This experienced tax professional will analyze your previous tax returns “under the microscope” to search for mistakes or lost opportunities for deductions. This process alone will often result in the lowering of your tax bill.

But if your tax debt is substantial, then this won’t solve your tax issue entirely. What might, however, is the Offer in Compromise or Installment Agreement.

Offer in Compromise: Designed by the IRS for taxpayers who are unable to pay their tax debt, even over time, the Offer in Compromise allows you to make an IRS tax settlement offer that will eliminate your debt for good. This settlement often results in a significant discount but there’s a catch: you must qualify for the program and be able to demonstrate that you cannot pay off your debt, even if given time.

Installment Agreement: If you do not qualify for the Offer in Compromise, there are other options, such as the Installment Agreement, which will let you pay down your debt over a period of time (think car payment).

It’s no secret the IRS has been more aggressive in its tax collection efforts. However, if you are facing an IRS tax issues due to “less than perfect” tax reporting or have received an IRS audit notice, you will want experienced tax representation on your side to get the tax relief you need.

Contact the specialized audit defense team of licensed professionals at Tax Audit Defense or Certified Tax Resolution Specialists at Tax Resolution Services to help. They will face the tax authorities so you don’t have to. Contact Tax Audit Defense before or after an IRS tax audit at 800-410-2425 or email CustomerService@TaxAuditDefense.com. Get a FREE Tax Relief Consultation by calling 1-866-477-7762 or fill out a confidential online form at www.TaxResolution.com.


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