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Tax Settlement Help
Staring at an insurmountable tax debt can be maddening to the point where you might just want to bury your head in the sand and hope it all goes away. Unfortunately, the aggressive tax authorities aren't going to let that happen. Through their collection powers they find a way to chase tax debtors for years. Fortunately, there is hope and there are options to resolve your tax debt to get the IRS and state tax authorities off of your back.
The IRS defines the tax settlement program for tax debtors as the Offer in Compromise. Some states have similar tax settlement options to the IRS, but have varying procedures. Ultimately, whether you're looking for tax settlement help for your IRS or state tax issues the overall guidelines will be similar.
What is a Tax Settlement?
The tax authorities will require full financial disclosure to make a determination as to whether they'll accept less than what is owed. This requires completion of financial statements and all supporting documentation to argue the case that a tax settlement is in the best interest of the government.
These settlements require experience, time, and hard-nosed negotiation strategies to obtain the best outcome possible. The guidance and support from a tax resolution specialist can give you the peace of mind that you need to get back to living your life.
How to get help for a Tax Settlement?
It's important to note that over the years, since tax settlement is such a highly desired option for those with tax debt, there has been an excess of bad or false information spread around about the realities of tax settlement. This is truly too bad, since tax settlement is an available option, but it requires some real and truthful assessments of one's financial situation.
Tax settlements are not the same as credit card or other unsecured debt settlement. The IRS and state tax authorities are secured creditors that have defined rules and procedures about eligibility and tax settlement amounts.
There is no magic going on here and anyone that you pursue for help should truly understand your unique situation before making a recommendation of a tax settlement for you. Furthermore, if someone tells you that they guarantee that your tax debt will be settled for some unbelievable percentage of your tax debt, run away. Yes, it may be what you want to hear, but it's just not the reality of how tax debt settlements work.
Getting tax settlement help doesn't have to be hard or confusing. It definitely shouldn't put you in a situation that could waste your time, energy, or money. At 20/20 Tax Resolution you can have a free consultation with a licensed tax professional. This means you'll be dealing with a tax expert that is actually qualified to understand the scope of your situation and all of the tax laws, policies, and procedures. Contact us for a realistic and honest evaluation of your options to settle your tax debt situation once and for all.