Tax Relief
What is Tax Resolution?
Tax resolution is the process of finding a solution to your tax problems with the IRS or state tax agencies. Tax resolution can be complex but manageable with the right approach. Assess your situation, explore your options, and consider professional advice to find the best path to resolve your tax issues.
Types of Tax Problems
1. Unpaid Taxes - When you owe back taxes.
2. Audits- When the IRS reviews your tax return.
3. Penalties - Extra charges for late payments or filings.
4. Liens and Levies - Legal claims or property seizures for unpaid taxes.
Common Resolution Options
1. Payment Plans - Agreements to pay taxes in installments.
2. Offer in Compromise (OIC or IRS Fresh Start) - Settling your tax debt for less than owed.
3. Currently Not Collectible - Temporarily halting collections if you can’t pay.
4. Penalty Abatement - Getting penalties reduced or removed.
