Tax Relief Solutions for Every Situation
If you owe money to the IRS, it is crucial that you take action as quickly as possible.
Many types of tax relief are available that could help you fix your situation, turn things around, and move forward with your life, free from worry and debt.
But if you choose to ignore the notices and do nothing, then your situation will only get worse. If you've already been receiving threatening letters from the IRS, then chances are that steps are already being taken against you.
Reasons to seek tax relief immediately
Depending on your situation, the IRS can use a number of methods to get the money they claim you owe and increase your tax debt even higher.
Here are just a few of the most common scenarios that unfold if you do not seek tax relief and your debt continues to go unpaid:
- The IRS will take money directly out of your paycheck. Called a "wage garnishment," the IRS can legally take money right out of your paycheck – without you paying them directly. They will work directly with your employer, who is obligated by law to take a portion of your pay and send it to the IRS. In fact, they can take up to 80% of your wages until the balance is paid, leaving you little to live on.
- They will file a federal tax lien against you, your business, or your property. Having a federal tax lien filed against you can be incredibly detrimental to your entire financial situation. Filed with the county clerk, the lien will appear on your credit report, making it nearly impossible to obtain credit or financing of any kind. It will also prevent you from selling or transferring your property, and you also won't be able to borrow money against it to pay your back taxes.
- They will take money from your bank account. Another aggressive action the IRS can take against you is to levy your accounts and sources of income. With a bank levy, they can legally take your money directly out of your savings and checking accounts, in addition to seizing funds from your paycheck through wage garnishment.
- Your tax debt will continue to grow in interest and penalty fees. The longer you take to pay off your tax debt, the larger that debt will become. The IRS calculates penalties and interest on the amount due, and those penalties can be up to 25% of the total amount owed, or even higher. This is why even the smallest tax debt can quickly compound into a huge sum.
- You will go to prison. If you are involved in an even more serious matter of evading taxes, misleading the IRS, or failing to pay employees' withheld taxes as a business owner, then you could face much more serious consequences. These crimes are punishable by fines in the tens of thousands of dollars, as well as jail-time if you are convicted.
All of these situations can be avoided and resolved with the appropriate tax relief solutions, even if the collection process has already begun.
Let's look at some of the key forms of IRS tax relief that could help you get back on your feet.
Tax relief solutions
Reduce what you owe Called an "offer in compromise," this is an agreement between you and the IRS, which lowers your total due amount if the IRS finds that you are not able to pay the debt in full. This is essentially a leniency program for those who have exhausted other means of paying their back taxes.
Appeal to the IRS for a better outcome If the IRS has made a decision that you feel is not fair or correct, then you have the right to appeal. However, it is crucial that you have a qualified tax professional to represent you in these matters in order for you to have the best opportunity for a more favorable outcome.
Appeal collection efforts If the IRS is threatening collection actions, you have a right to appeal – and it's in your best interest to respond right away. By taking action immediately with the help of professional representation, your appeal could stop a number of collection methods listed above, such as tax liens, bank account levies, wage garnishment, or seizure of your property.
Wage Garnishment Release Wage garnishment release is a tax relief solution that can stop your wages from being garnished and make other, more favorable arrangements with the IRS.
Innocent Spouse Relief If you have filed your taxes jointly with your partner, but you believe you are not responsible for the tax debt or negative actions that have occurred, then you may qualify for "Innocent Spouse" tax relief, or other similar types of relief that would relieve you from this burden.
Penalty Abatement If you believe the penalties levied against you are unfair or unmanageable, an experienced tax professional may be able to work with the IRS to eliminate or partially reduce the penalty, so that you can resolve your tax debt more quickly.
Payroll Tax Representation Even if the IRS has begun taking action against you for unpaid payroll taxes, you have a right to professional representation. An expert tax professional can negotiate on your behalf to save your business and your finances.
State Tax Disputes
Delinquent state taxes can result in even more forceful collections efforts than those of the IRS. In addition to IRS tax relief, you'll want to have a tax law expert represent you to achieve a more favorable outcome with your state.
Get tax relief now
No matter what your specific situation, US Tax Shield can help. Our seasoned tax professionals, attorneys and agents have years of tax resolution experience, and we will identify the best solution for your problem – regardless of whether action has already been taken against you, or if you have used other representation in the past.
We have helped thousands of clients solve their IRS and state tax liability problems, including individuals and businesses of all forms. Contact us today to get the IRS off your back, have peace of mind, and potentially reduce what you owe by thousands of dollars.
Call 877-829-3535 for a free, no-obligation 15-minute consultation with a professional tax relief consultant.