Call Today: 877-825-1179

La Porte Chamber of Commerce
VERIFIED Seal Success Tax Relief, LLC BBB Business Review    
Methods We Use to Help You Get Tax Debt Relief

Methods We Use to Help You Get Tax Debt Relief

By on Jul 7, 2016 in Debt Relief | 0 comments

5120304358_72af165e30Methods We Use to Help You Get Tax Debt Relief

You can rid the love letters your ex may have given you, but you cannot do the same with your tax debt. Past relationships might have left you with a broken heart, but your relationship with the Internal Revenue Service (IRS) can leave you with a tax lien, bad credit, loss of sanity, and just plain broke! With Success Tax Relief, there are plenty of routes you can take to make sure that you get the relief you need to mend your broken tax situation.

New Year, New Program

The IRS has a new program that makes it extremely easy for taxpayers to pay back what they owe. The ultimate goal of it all is to avoid a tax lien, which obligates the government to take your property hostage until all of the debt is paid off. They have raised the amount for a tax lien to the hefty amount of $10,000. If you already have a tax lien, but are paying off your debt through the direct installment agreement, you can always file to have it withdrawn using Form 12277. You can learn more about the IRS Fresh Start program here.

Work It Out

It is completely understandable when someone says that they do not have the salary to pay off their tax debt. That is why it is highly recommended to use the Offer in Compromise (OIC) option with the IRS. According to the IRS website, “An OIC allows you to settle your tax debt for less than the full amount you owe.” Make sure that you are eligible, and then submit an offer. You can also choose from two options: a lump sum payment, or a periodic payment.

Currently Not Collectible

If the IRS believes that any levy they would place upon you for tax debt would create financial hardship, they can place a hold or momentarily release until you can generate enough income to pay them back. This is formally called a Currently Not Collectible clause, or CNC. Although this may help you, the IRS may consider this as getting in the way of paying back what you owe. . The interest will continue to grow, and failure to file future returns and begin your payments will revoke your CNC status.

The Last Resort is a Swipe Away

As a last resort, your credit card is a helpful way to begin your payment process. Please be aware that with this option, charging a tax bill to your credit card might affect your credit score. When you reach your credit limit, the fees that are associated with charging such a hefty bill can possibly put you back in the situation you fought so hard to get out of. If you continue to explore this option, remember:

  • Promotional Rates – Look at all of your credit cards and determine which one will generate the lowest amount of interest over time, this way it can buy you more than enough time to work on paying the balance off.
  • Hurry, Hurry, HURRY! – Make sure that if you charge your credit card with a tax bill, hurry to pay the balance before the interest stacks up.
  • Pay More Than What’s Expected – The minimum payment is just a way to trick you into paying the credit card company for years and years. Just like you, they want to make money as well.

Here is a list of acceptable credit card vendors the IRS accepts if you decide to pay off your tax debt with this option.

Bankrupt Who?

Here at Success Tax Relief, we believe that bankruptcy should be the last resort. There are plenty of options to explore and bankruptcy should not have to be one of them. The only chapters you should be looking at are in novels! If you have any questions or concerns, you can contact us through our online form or phone number 1-877-825-1179! We are available 24/7 and are here to help you relieve yourself of any tax debt that you may have.

Post a Reply

Your email address will not be published. Required fields are marked *

7 Secrets the IRS Doesn’t Want You to Know About!

Download FREE Report

We will never spam you.