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Federal and State Tax Debt: How to Get Help Paying it Off

Federal and State Tax Debt: How to Get Help Paying it Off

By on Jun 6, 2018 in Tax Debt | 0 comments

Federal and State Tax Debt: How to Get Help Paying it OffAs the old adage goes, there are only two certainties in life, death and taxes! While no one likes having to deal with filing and paying their taxes, they are a necessary evil that provides for the myriad of services and benefits we enjoy in modern society. Nonetheless, most Americans look forward to filing and paying their taxes about as much as they look most cases, it’s a simple process of filing their taxes every cycle, writing out a check and mailing it in, and being done with it. That’s how it’s supposed to go anyway.

 

Some Pitfalls You Might Find When Filing Taxes

 

There are those unfortunate few that find themselves going about their daily lives, and then the phone rings or they get an envelope in the mail, and are informed that they are being audited by the Internal Revenue Service (IRS) or by their state tax commission. This whole thing can be very confusing, frustrating, and time-consuming to process, but the good news is that you do not have to do this alone.

 

Help is a Phone Call Away

 

It is estimated that more than 18 million Americans currently owe a debt to the IRS and that more than 10 million Americans owe a debt to their individual state tax commissions. The law provides methods for you to take care of your tax debt quickly, easily, and for a significantly lower amount than what you have been told you owe. While this is something you can do on your own, the process will go much quicker with the assistance of a qualified tax debt relief agency. This is where Success Tax Relief can step in and help.

Companies such as Success Tax Relief have experience dealing with the IRS. We know how to file disputes that get results, and how to request extensions that get granted. Success Tax Relief also knows how to take the best advantage of the wide range of programs offered in that can help you with getting your debt settled. Let’s look at two of these programs:

 

1. Installment Agreement

 

 Your tax debt amount is cut into a series of installments that are payable at regular intervals over a period of time that can span from a few months to several years. The amount of your payments, the interval between payments, and the length of time that the payments spans is determined by the amount you owe and the amount that you can afford. This is determined during your meeting with the IRS, a meeting that your debt relief agent will be a part of so that they can intercede on your behalf. Almost all American’s will qualify for this type of relief.

 

2. Offer in Compromise

 

 Many Americans can qualify for this type of relief as well. An Offer in Compromise is available if you are in a financial hardship where paying the full amount of what you owe will place you in financial hardship. With this option, you may be able to pay a substantially lower amount than what you have been told you owe. Be prepared to show extensive financial health documentation to show that you are unable to pay your full debt, and also be aware that you may have to make sacrifices such as relinquishing expensive property that you own, including vacation houses, boats, TVs, and other items to take care of a portion of the debt. Once your debt is at a level that you can handle you may then ask for an installment agreement to pay it off easier.

 

To get in touch with a tax debt relief professional, contact Success Tax Relief. Use our online contact form, or call 1-877-825-1179 for a free consultation.

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