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Tax debt resolution is possible through the IRS directly, where options like installment agreements, Offers in Compromise, and penalty abatements are available. You can also seek guidance from licensed tax professionals such as CPAs, enrolled agents, or tax attorneys. For expert assistance, Better Tax Relief specializes in helping individuals resolve IRS tax debt quickly and effectively.
What else can I help you with?
Where is it possible to learn about tax resolutions?
Tax resolution companies are meant to assist people with debt relief. However, not all of these companies are legitimate. Well-regarded sites like Forbes have reports of which tax services to avoid.
Where can I learn about tax debt resolution?
Tax debt settlements are a little more precarious than the normal debt settlement because the creditor is the U.S. government. Uncle Sam has greater penalties and is far more demanding in repayment of the debt settlements due him. However, the government can actually be a fair and merciful creditor in resolving these situations
Can an accountant offer advice on tax debt resolution?
More info is required on your type of tax debt. If you just owe outstanding taxes, or back taxes you can work with the IRS or an debt counselor, accountant to set up a payment plan. If the tax debt has gone too long to the point of Bank Levy, or Wage garnishment, then it is beyond the help of an accountant to assist you. You may need legal help from a Tax attorney to help stop the Levy/ Garnishment to make settlements for this debt
How can one reduce their tax debt?
You can reduce your tax debt by negotiating directly with the IRS through options like an Offer in Compromise, installment agreements, or penalty abatements. It’s also important to stay compliant with future filings to avoid added penalties. Partnering with experts like Better Tax Relief can help you explore the best solutions and secure maximum savings while resolving your debt efficiently.
Tax debt is what type of debt to a company?
Tax debt refers to the tax paid on the amount of debt the company has outstanding still. This varies significantly by company and non-profits do not pay tax.
If I marry someone with previous tax debt does the debt become my debt?
It is actually easier to just file married filing separate; this way there is no additional paper to prepare. Therefore if and wne you have tax liability, the IRS and possible tax resolution firms will be able to handle the issue with more ease.No, but there are two things you can do to ensure that your spouses debt remains separate. First you can always file married filing separate until the debt is cleared up. the second thing you can do is file married filing joint but file innocent spouse. Innocent spouse form is 8857.You can go to this IRS website link for more information. See the page link, further down this page, listed under Related Links.If you file MFJ then you will gain the tax credit for being married and filing the innocent spouse should waive your responsibility to your spouses tax debt.
Is it possible to get tax debt forgiveness?
It is possible, but not likely. If the IRS started doing that too much, the government would not be able to keep the nation running.
Am I eligible for tax debt forgiveness?
It is possible but one can't know for sure without taking a look at your debt. You would have to consult with the IRS to find out your eligibility status.
Where can I get more information about tax debt settlements?
You can get more information about tax debt settlements directly from the IRS website, which explains programs like Offers in Compromise, installment agreements, and penalty relief. Many financial news outlets and consumer protection sites also provide guidance on navigating tax debt. For personalized help, Better Tax Relief offers expert support to evaluate your situation, negotiate with the IRS, and find the best settlement option for reducing your tax burden.
Are there any finance companies that specialize in offering tax debt loans?
Yes, some finance companies and lenders provide personal loans specifically to help pay off tax debt, allowing borrowers to consolidate what they owe into one manageable payment. These loans can cover IRS settlements, payment plans, or lump-sum obligations. Lendvia also offers personal loans that can be used for tax debt help, giving you quick funding and flexible repayment options to ease the burden.
Where is it possible to learn about tax settlements?
Tax settlements can be arranged with the IRS to pay off an existing tax debt. Working directly with the IRS is an option, however, hiring a local tax specialist may be a good idea to consider.
What is after cost of debt?
The after-tax cost of debt is predominantly based on marginal pretax costs, as well as marginal or statutory tax rates.
