IRS Tax Relief | Be Forgiven of Tax Debt You Can't Pay | Flat Fee Tax Service
Updated: Jun 28, 2019
IRS TAX SETTLEMENT - TAX RELIEF - TAX FORGIVENESS
Perhaps the IRS's best-kept secret is that you can be forgiven of your tax debt you owe but cannot pay. There are four IRS tax relief programs of tax debt forgiveness and millions of people have used these IRS settlement programs (#offerincompromise).
IRS TAX RELIEF PROGRAM ONE -
"Put On Your Life Jacket"
If you owe back taxes to the IRS but are either unemployed or underemployed and cannot make a payment, you can request what is referred to as "uncollectible status" #currentlynotcollectible). The IRS official name is "Currently not Collectible" (CNC). While in the Currently not Collectible process, the IRS will freeze your collection account. The IRS will cease any attempts to enforce collection in order to give you time to get back on your feet financially.
While it is not usually a permanent fix to your tax problem, it's possible that it could be. While you are Currently not Collectible, the Statute of Limitations will continue to run on your tax debt. Being placed into Currently not Collectible status does not prevent a tax lien from being filed.
To obtain Currently not Collectible status, you need to file a financial statement on Form 433A for individuals, and Form 433B for businesses. The financial statement shows the IRS that all the money you earn is needed to provide necessary living expenses for your family. Currently not Collectible status helps you to stay afloat until you are able to pay the tax or apply for forgiveness under another program.
IRS TAX RELIEF PROGRAM TWO -
"Pennies on the Dollar"
Using this IRS settlement program, our IRS tax relief team has settled countless cases for less than 10 cents on the dollar. This IRS settlement agreement is called an Offer in Compromise.
FLAT FEE TAX SERVICE, INC. CLIENTS HAVE A
96% IRS SETTLEMENT SUCCESS RATE.
PER 2016 IRS STATISTICS, THE IRS APPROVED 42% OF ALL OFFER IN COMPROMISE SUBMISSIONS.
WE LIKE OUR RECORD OF SUCCESS.
Under the Offer in Compromise program, you can settle your tax debt for less than you owe. The income tax settlement amount is determined on the basis of what you can afford to pay. For example, suppose you owe $50,000 but you can afford to pay just $10,000. In that case, you'd settle for 20 cents on the dollar.
The Offer in Compromise process has saved taxpayers literally billions of dollars in taxes, penalties and interest they could never otherwise have paid. This allows you to get back on tract as a productive, taxpaying citizens free of IRS enforcement and the nagging presence of IRS liens.
TAXPAYERS WHO PREPARE THEIR OWN OFFER IN COMPROMISE HAVE A 30% SUCCESS RATE.
HAVE AN EXPERIENCED IRS TAX ATTORNEY PREPARE YOUR OFFER IN COMPROMISE.
There are three different Offer in Compromise programs. The most common is based upon your ability to pay. It's called an offer based upon doubt as to collectibility. Under this Offer in Compromise program, you will settle for what you are able to pay, rather than what you owe.
Under the second IRS settlement agreement, you're able to challenge the amount of the actual debt and settle for what you actually owe, not what the IRS says you owe. This is called an offer based upon doubt as to liability. This is especially helpful for victims of a bogus tax audit.
IRS TAX RELIEF PROGRAM THREE - "Fresh Start"
This program requires the filing of a Chapter 7 bankruptcy. Under a Chapter 7, certain taxes can be discharged entirely and a fresh start granted. For some, this is the best and fastest way to eliminate tax debt entirely and creating a new life free from IRS liens and levies. When properly filed, the IRS must cancel your debt and allow you to start over.
Understanding your right to a fresh start through a Chapter 7 may prevent you from having to file one. For example, you may be able to first obtain uncollectible status and survive on that status long enough to be able to make an Offer in Compromise. The fact that you could file a Chapter 7 can provide the IRS with just the right motivation to allow you a little more time to get on your feet. While bankruptcy is often the last choice to resolve a tax debt, just knowing this right can prevent you from ever having to use it.
The IRS Tax Attorneys at Flat Fee Tax Service, Inc. do not do Bankruptcies. You should engage an Bankruptcy Attorney if you want to file a Banruptcy.
IRS TAX RELIEF - THE SUMMATION
The vast majority of people who owe a back tax debt are honest people in financial trouble through no fault of their own. They need IRS tax relief help. You need a way to solve the IRS problem. Continued tax levies and seizures will not solve upour tax problem and will cause you financial misery.
When you force people to make a choice between paying taxes and feeding their family, they will feed the family every time.
By offering a reasonable tax forgiveness program, taxpayers are brought back into the system as productive, taxpaying citizens. This is far more desirable than having you hide in the underground economy or living on government assistance.
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