State Tax Debt Resolution: When Should You Seek Professional Help?
Do you owe back taxes to your state tax office? Is the amount too high for you to pay off? If you are unable to see a path for paying this state tax debt off in the foreseeable future, it may be time to get professional tax help. Most states follow the IRS guidelines for resolving tax debt, meaning they may contact you soon after they realize that you have not paid. You should be sure to be aware that many states often collect back taxes more quickly than the IRS. This means that you may have less time to find a solution before you are hounded by your local state for repayment.
The bottom line is that it’s always better to be proactive about paying your tax debt. Don’t wait until the last minute to repay your state tax debt.
How Can a Tax Firm Help Resolve Your State Debt?
A professional tax service can help you come up with a reasonable plan for settling your state tax debt once and for all. This plan may include reaching out to your state agency before they contact you to find out what kind of programs you may qualify for if you are unable to pay at the present time. For example, most states allow taxpayers to request an installment agreement which allows you to pay your state tax debt over time, rather than in one lump sum. You can pay your tax debt in monthly installments for over a period of several years. You will still pay penalties and interest, but have more time to pay, providing you with financial flexibility.
You might also qualify for what is known as an Offer in Compromise if you cannot afford to pay the state what you owe. The application process for an Offer in Compromise is complicated and a reputable tax firm can help ensure that you complete a strong application, giving you the best possible chance of getting approved. You will need to provide detailed financial information in order to make your case, and a tax firm can guide you through this process.
Benefits of Consulting a Tax Relief Firm
One of the most useful functions a tax firm can complete for you is serving as a point of contact with the state tax agency or the Internal Revenue Service (IRS) on your behalf. A tax firm can manage all communication with your state tax office so that you don’t have to. This can reduce the overall stress for you and your family to help resolve your tax debt once and for all.
Take The First Step Toward Resolving Your Tax Debt
Success Tax Relief is a professional tax relief firm that specializes in working with taxpayers just like you to get out of state and federal tax debt. We can help you file any outstanding returns, review your documentation and determine the best strategy for resolving your state tax debt as quickly as possible. Delaying can only make things worse. Call Success Tax Relief today at 877-825-1179 or contact us online to take the first step toward being tax debt free.