Why Avail Services of a Tax Resolution Company

Even if you think you don't owe any taxes, failing to submit a federal and state tax return each year might result in significant fines. The IRS may impose a penalty of 5% of the amount outstanding for each month that you fail to file a tax return. A 25 percent penalty is the maximum, and the minimum penalty is either $205 or 100 percent of the debt. If you don't owe taxes and were hoping for a refund, you'll have to submit a return in order to obtain it. This is true for tax credits as well.

The good news is that if you break the law, you're unlikely to find yourself in jail. When tax returns are prepared with the goal to deceive the IRS,  that is normally reserved for high-profile instances of fraud. However, there is no assurance that you will avoid jail time, and you might face a fine of up to $25,000, depending on your situation.

A common penalty is to pay back the taxes you owe and any fines accrued over the years. You should have an A+ BBB-rated professional tax representation agency on your side to assist avoid fines and give the best ways of tax relief programs and resolutions for your circumstance.

Relief from Back Taxes

There are a variety of options to pay off past taxes owed to the IRS and/or the state. A compromise agreement might be made for those who have accrued big debt and are in the process of clearing their records.

The IRS offers a monthly payment plan for those who owe past taxes, allowing them to pay off the obligation without placing themselves in financial jeopardy. Tax relief and resolution without borrowing is the ideal alternative for individuals who are seeking tax relief and settlement.

In an offer in compromise, you make one lump-sum payment that is less than the whole balance of your debt. As a rule, this is utilized when you owe more than you can pay but can only afford to pay a portion of that debt at the same time. Saving thousands of dollars in taxes, interest, and penalties is possible if you qualify.

You can pay off a portion of your debt in installments up to a set sum under this relatively new strategy known as "partial payment installments." To qualify for this, you must have a large debt that you can't afford to pay off promptly.

Currently Not Collectible refers to a situation in which the Internal Revenue Service (IRS) delays collecting your tax bill for up to a year or longer. Unemployment or another equally legitimate cause precludes liens, levies, or property seizures from being placed on the taxpayer.

Why Use a Tax Representation Company?

Unfiled returns, IRS and state back taxes, employment 941 payroll concerns, and audits are all solid reasons to use our experienced tax resolution company or IRS resolution software. Your rights will be safeguarded while any penalties and fines are minimized by working with a skilled and experienced team for tax relief and settlement. If you don't engage the correct team of tax specialists, your rights under the law may not be protected. As a result, every legislation that helps you will be referenced when you face possible repercussions.

We urge you to contact our well-known tax representation agency right away if you are in need of tax relief and resolution. To get out of your present predicament and into a relief program that is tailored to your tax position, you must move quickly.