The Difference Between Tax Relief and Tax Break: Why Get Tax Relief Now Instead of Later
Tax Relief is defined as any type of program designed to reduce the amount of taxes that an individual or business owes. As a result, it is one of the most coveted things taxpayers salivate over during the tax season, hoping they qualify.
Definitions: Tax Relief and Tax Break
Yet, tax relief is more than just getting a tax break. It’s also about receiving the service of getting a tax break. Sometimes, to get a tax break, it’s not as easy as entering numbers on a tax software system. If only!
Often times, getting tax relief assistance can be a bit complicated depending on each taxpayer’s situation. When one thinks of getting tax relief assistance, the thought of being millions of dollars in debt, often comes to mind. It is usually dismissed as celebrity problems that Martha Stewart, Wesley Snipes, reality star Teresa Giudice—people with ‘real’ money have. Yet, that is not so.
Seeking tax relief service is not designated only for the rich and is nothing to be ashamed of. In fact, one can benefit from tax relief service even if they are not in debt to the Internal Revenue Service (IRS).
What Kind of Issues Applies for Someone to Need Tax Relief?
There are a number of combinations that can lead to someone needing tax relief. It can be argued that if you qualify as a taxpayer, then you need assistance regardless of the amount you owe! At any rate, let’s take a look a few reasons why some may want to get tax relief now instead of later:
Missed a Year Filing Annual Taxes
Whether one has neglected to file their annual taxes or just honestly forgot, the IRS doesn’t really care! They want their money! The good news is if this is you and you haven’t received a letter from the IRS, you are in good shape. There is still time to rectify this issue by simply calling the IRS and letting them know your situation. You can expect to pay a late fee and other penalties, but the sooner you address this, the better for you and your financial situation.
Being self-employed gives you the freedom to be your own boss…and accountant! However, entrepreneurs who are more focused on their work, might want to seek the service of a tax relief consultant in order better ready their books to prevent any complications during the tax filing season.
Suddenly Owe the IRS an Amount You Can’t Afford
An issue like this can happen overnight—especially for those who have come into a significant amount of money like an inheritance, lottery winnings, insurance collection, child support, alimony and such. This type of additional income must still be reported to the IRS as taxable income. As a result, your overall annual income will increase, possibly bumping you into a higher tax bracket. A tax relief consultant can help you manage your newfound income so that you can afford to pay the taxes on this money, even if it is a one-time compensation.
How Can I Get Tax Relief?
Success Tax Relief specializes in working with taxpayers by communicating to the IRS on your behalf. We are more than happy to help you to prevent any tax debt as well as handle any existing debt that you might already have. Alleviate your tax issues by contacting us online or calling 1-877-825-1179 today!