8 Ways to Resolve your IRS Tax Issues Chadds Ford PA

Tax problems aren’t easy to deal with, and you need to be delicate with the situation in order to come out on top. If you’re dealing with tax issues in Chadds Ford PA, here are six common ways to resolve those problems:

1. Installment Agreement

If you owe a large sum of unpaid taxes, you can settle for an installment agreement to break the amount down to manageable chunks. This way, you don’t have to worry about paying a large sum of money all at once, as you can set up a monthly payment program to make the process a bit easier to handle.

2. Partial Pay Installment Agreement

If you’re not able to be able to afford a short-term tax payment installment plan at the moment, you can negotiate for a partial pay installment payment. This will break down the installments to even smaller payments. Keep in mind that there’s usually a hard limit of around ten years. Because this is not a common payment method, and you may risk ticking off the IRS, which is never what you want to do. You may want to discuss with your tax consultant so that you don’t risk getting charged by the IRS.

3. Currently Not Collectible

If you’re not in the financial state to pay owed taxes, you can file for “Currently Not Collectible” to tell the IRS that you’re currently unable to pay. You must attach all the documents that show that you really cannot afford to pay off those debts, or your request may be rejected.

4. Innocent Spouse

Filing as an innocent spouse can prevent the tax debt from being passed from one spouse to the other. If the tax debt existed before the marriage, one spouse should not be responsible for the other’s tax liability.

5. Offer in Compromise

If you don’t have the cash to pay off the entire tax debt, you have the option to file for an “Offer in Compromise” form. This form will tell the IRS that you cannot afford to pay off the debt owed but are willing to pay for a smaller amount. Like a CNC form, you also must attach evidence to show that you’re not in the state to pay off the debt, and once the form is approved, you will have to submit your updated financial statement every month. Once your income surpasses the OIC threshold, they will start charging you the full amount again.

6. Past-Due Returns

If you’ve missed the tax return filing deadline, you may be charged with additional fees or interest. Luckily, this issue can be resolved rather easily by filing for a past-due return form. You may be entitled to a tax refund for the amount that you’ve wrongfully paid in the past, which can save you some more money as well.

7. Penalty Abatement

If you’re charged with any type of tax penalty, you can file for an abatement to reduce or remove the penalty fines entirely. You will need a good reason as to why you want to file for this so it may be a better idea to talk with your tax consultant about how to build a case for a reduction.

8. Statute of Limitations

Tax debts have a ten-year expiration date, and after that, the debt will be removed. This rarely ever happens, as the IRS will get their money one way or another. You shouldn’t count on this to get away with not paying taxes. The IRS will usually get their money through tax lien or levy, but if you don’t have any property, cash, or assets to take, you may be able to get away with not having to pay for ten years.

If you need any help with your Chadds Ford PA tax situation, Tax Relief Advocates in Chadds Ford PA is where you need to go. Our experienced income tax advocate in Chadds Ford PA can help you get around any type of tax situation you may be in. Give us a call today at 888.829.1007.

Income Tax Relief Solutions Chadds Ford PA

Some of us hesitate to call a tax relief advocate in fear that we can't afford it. For some this is true.  Many enjoy the benefits at lower cost by securing the services of a Tax Relief Advocate in Chadds Ford PA. 

Do you have IRS Tax problems in Chadds Ford PA?  You may end up paying more if you don't get help with tax relief. You don't need to go into it all alone.

Here’s some Income Tax Relief Solutions to consider:

Income Tax Relief Solution #1: Take Action Ahead of Time

Failing to act quickly can result in piles of letters, penalties, and interest that you could have avoided. Ignoring the letters from the IRS will only make matters worse. You may be unwittingly giving up some of your rights.

Find yourself a good defense to help you respond to the IRS correctly, rather than letting them take matters into their own hands and deciding what happens for you. Take action as soon as possible, and you can avoid the many problems that come with ignoring it or putting it off.

Income Tax Relief Solution #2: Find a Tax Relief Advocate in Chadds Ford PA

In tax law, there are two types of law - the law that creates the tax and the corresponding rules, and the law that dictates how the IRS must operate. Although CPAs will know how much tax you will need to pay, only a tax relief advocate in Chadds Ford PA can help with the rules that need to be followed by the IRS.

Being knowledgeable in this is crucial to avoid running into mistakes when dealing with the IRS. You will want to find an expert who is familiar with both tax laws.

Income Tax Relief Solution #3: Don’t Make it a DIY

It may be tempting just to do your taxes yourself, even if you're in a pickle. However, you may end up needing to pay more taxes than you owe. Don't think that the IRS will turn a blind eye.

Effectively negotiating with the IRS will take an expert - someone who knows how and where to apply the law to each particular situation to make a more persuasive argument that will apply to the rules. A lack of knowledge of how the IRS operates can be a step back for many taxpayers. You need to be able to show an IRS agent where they are wrong if dealing with someone in court. An Income Tax Relief Advocate in Chadds Ford PA will be trained and educated enough for this sort of negotiation.

Income Tax Relief Solution #4: Remember That It Isn’t About Playing Fair

IRS agents are primarily trained to create a rapport with you. They are great at their customer service voices and will make you think that they are there to help you. However, they deal with quite a number of people every day - you’re just one case among the many others.

They know that a helpful demeanor will make their approach more believable. Do not forget that they represent the government, not you. They are more interested in getting cases closed quickly and leaving a bill in your hand.  This is why working with an Income Tax Relief Advocate in Chadds Ford PA is a prudent step for many.

Income Tax Relief Solution #5: Know That IRS Agents Are Not Lawyers

To become an IRS agent, all you need is 30 hours of accounting. You will be speaking to someone who is instructed through a script on what to say. They are not attorneys, and they do not have your best interests in mind. Avoid thinking IRS agents will be there to help you and get yourself a valid person for real tax advice.

Tax Relief Advocates specialize in resolving tax issues with the IRS – call 888.829.1007 today if you need tax relief in Chadds Ford PA.

Tax Problem Resolution Tips Chadds Ford PA

It is safe to say that you are pained by expense issues? Is the IRS causing worry for you? Are back assessments due? It is safe to say that you are confronting huge punishments and intrigue? We're here to help!

The IRS is a persistent organization that will stop at nothing to make sure that they collect every dime they’re owed. If you don’t apply for any deductibles, your taxes could be sky high. You don’t want to end up putting your financial situation at risk every time you have to file for taxes. You have to have a clear idea of what to do when managing your tax situation to make sure you settle it as cost-effectively as possible. In this article, you’ll learn eight ways to resolve your Chadds Ford PA tax debt in a manageable way. Let’s get into it:

1. Installment Agreement
If an annual payment plan is too burdensome for your financial situation, you can negotiate to pay off your taxes in installments. Paying in smaller sums throughout the year makes it easier to manage your financial plan, and if you invest in and file for all the possible deductibles, you can save up to 40% of the total amount of the taxes in refunds.

2. Partial Payment Installment Agreement
This will break your installment down even further, as you can pay off your taxes like how you would pay your credit card debts. The problem with this is that it may be hard to negotiate for this type of payment. To make sure that your partial payment installment agreement is approved, you may want to hire a tax resolution specialist to do the talking for you.

3. Offer in Compromise Chadds Ford PA
An Offer in Compromise (OIC) is an agreement between a taxpayer and the IRS that confirms that the bureau allows the taxpayer to resolve the tax situation for less than they owe. There are four main factors that determine whether or not you are eligible to file for an OIC: Ability to pay; income, expenses, and asset equity. If you’re in the process of filing for bankruptcy or if your business revenue is taking a major blunder, your OIC is likely to be approved, which can save you a ton of money.

4. File for Not Currently Collectible
Another program you can apply for if you’re suffering from a financial crisis is to file for a “currently non-collectible.” This status is basically telling the IRS that you’re not able to pay the taxes owe for about a year or so. If you can’t pay your taxes and you don’t file for this, you could be under a levy, lien, or seizure of property. If your bank account is under levy, you have 21 days to file in for a levy release; otherwise, your money will be taken directly from your account.

5. Credit Card Debt Settlement Chadds Ford PA
You can set up your credit card debt consolidation by either working with a credit card debt settlement company or opting to do it by yourself. Although it may seem more complicated, we recommend that you do it yourself rather than have a company do it for you. These companies will request for a payment months ahead of time before they make a settlement offer. The promise that the refund will be transferred into your account will often never be fulfilled as they will come up with excuses to say that you’re not eligible for a refund. If you really need help filing for a debt settlement via credit card, it’s better to have a dedicated tax expert do it.

6. Release Wage Garnishments Chadds Ford PA
Sometimes, a levy is unavoidable, but you can file for a release or modification of the garnishment terms so that you have enough money to live during and after the levy.

7. Innocent Spouse Relief
If your spouse has recently passed away, you will often be liable for the owed taxes. If you can build a case for it, you can file for an innocent spouse relief. This way, you won’t be liable for a tax debt that you not be involved with.

8. Collection Statute Expiration Date
Once a tax debt has been concluded and issued, the IRS has ten years to collect all the money owed. After that, the debt will expire according to the Collection Statute Expiration Date regulation. Any amount that’s left unpaid after the ten-year period will be forgiven. If you’re coming close to that deadline, your tax expert may be able to help you file for one last appeal to get you over the threshold and save you a large sum of money.

Tax Relief Advocates specializes in resolving tax issues with the IRS – call 888.TAX.1007  today if you need tax debt relief in Chadds Ford PA.

Income Tax Problems that an Tax Relief Advocate in Chadds Ford PA Can Resolve for You

If you’re having a problem with your Chadds Ford PA tax situation, it’s best to have a professional tax relief advocate deal with it for you. Here are some of the most common situations where a Chadds Ford PA tax advocate will be of the most useful for you:

Chadds Ford PA Tax Court:
If you’ve been summoned to appear in a tax court, you will need to find a tax debt relief advocate as soon as possible. They will be able to build a case that will get you out of the toughest situations, or at the very least, face the most lenient sentence.

Tax Evasion Problem Chadds Ford PA:
Tax evasion is a serious tax offense, and they can lead to large sums of fine, or even jail time if you don’t represent your case correctly. You might also be found liable for tax penalties as well, and this can limit your tax return potential in the future. To avoid receiving these harsh punishments, you will need to work with a tax relief advocate. They can help gather evidence that will paint you in a different light. You might receive reduced jail time or none at all. It’s fair to say that the consequence that you receive with the help of a tax advocate is the most desirable outcome out of all the possibilities.

Under criminal investigation by the IRS:
The IRS is a persistent organization. They will track your tax movements to find out whether you have been omitting any tax payments from them. A criminal investigation by the IRS is not something to be taken lightly. They will do everything they can in their power to get every single dime that you supposedly owe. If you don’t have the right help, you’ll be at risk of massive fines, jail time, and a criminal record. A tax relief advocate can come in and negotiate and represent your case before matters get out of hand. This way, you can minimize the damage from your tax charges. The best course of action to take to prevent this from happening in the first place is by discussing any tax situations that you’re unsure about with your tax advocate. They can give you pointers on how to resolve the issue before it manifests into something more serious.

Committed Tax Fraud:
Chadds Ford PA Tax fraud is another potentially dangerous tax situation and it’s something that you could unknowingly commit. Charges such as claimed faulty deduction filings, false tax credit reports, and understating income are all issues that can happen accidentally. You will need the help of a professional tax relief advocate to get out of this situation.

Unfiled Chadds Ford PA Tax Returns:
If you haven’t paid for the taxes that you’re claiming a return for, it can be taken as intentional tax fraud. To prevent this issue, you might want to have a tax relief advocate go over your documents for you. Not only that you’re guaranteed to get all of your deserved tax return, but you’ll spare yourself a ton of money and headaches from the legal battles as well.

Tax Liens Chadds Ford PA:
If you don’t pay your property taxes, the government might come in and claim your property for it. Once a tax lien is in effect, the IRS will be given the green light to take your properties hostage until you resolve your tax issues. It will massively harm your financial credits and that might limit your financial growth in the future. A tax advocate can negotiate with the IRS for you and deal with this situation so that you’re not liable for substantial tax penalties.

Chadds Ford PA Tax Levy:
With a tax lien, the government doesn’t have the right to take your property away. A tax levy, on the other hand, gives the IRS the right to withhold the property to pay back for the amount of tax debt that you owe. A tax debt advocate can come in and put a stop to the levy, minimize financial damage and build a case that will at least extend the amount of time before your property is placed back on levy again. This can buy you some more time to either find the money or gather evidence to take to court.

Tax Filing Chadds Ford PA:
There are many types of taxes that you have to be aware of: property, state, federal, and income taxes. It’s not uncommon to see people lose track of the number of taxes that they have to pay and overlook some of them. By having a tax advocate assess your tax situations before submitting your tax return application, you will significantly reduce the likelihood of a mistake. You can rest assured that your tax situation is taken care of by a professional.

TR Advocates specialize in resolving tax issues with the IRS – call us today at 888.829.1007 if you need Income Tax Relief in Chadds Ford PA.