Settle IRS Tax Debt In Florida | Flat Fee Tax Relief | Florida | United States
Updated: Jul 2
You Can Settle IRS Tax Debt in Florida
When you owe a substantial and accruing tax debt to the Internal Revenue Service, it can feel absolutely crushing. The prospect of going up against a large federal agency, particularly the IRS, will stress and intimidate most of us. In such cases, it is important that you don’t try to do it all on your own, and seek the counsel and guidance of an experienced Florida tax professional.
With the Coronavirus (COVID-19) problem continuing to play havoc with our everyday routines, it is completely unnecessary to physically come to any IRS tax relief company's office. All IRS tax relief work can be accomplished using your phone, email and/or fax. As an FYI, the IRS conducts all their business via fax.
It would be in your best interest to use your tax attorney’s skill, knowledge and resources to help you contest and settle your IRS tax debt. If you ignore taking prompt action, you could lose your home, wages, bank accounts and other assets. If you are struggling with repaying these large sums, please remember that there are several tax relief options in which you can settle your debt and regain your financial stability.
Lump Sum Payment Paying your tax debt in one lump sum can be a smart way to get rid of penalties and to reduce the amount you owe to the IRS. If you could write the IRS a check for the full amount owed, you most likely wouldn't be here looking for options. Your Florida tax attorney (#IRStaxprofessionals) can advise you regarding the best action plan to follow as well as regarding all the options available to you for settling your IRS tax debt. Installment Agreement (Payment Plan) One way to settle your tax debt is to enter into an installment agreement with the IRS. Same as a loan or credit card, an IRS payment plan gives you the ability to make monthly payments that you can handle until you pay off the entire amount. These payments are charged interest and penalties, they collect more by extending the term. You will end up paying approximately twice what your tax debt was originally.
You can make a payment through payroll deduction, direct debit, check, money order, credit card or you may pay online under such an agreement. If you pay the IRS back by sending them a check or money order, more than likely the IRS will file a tax lien against you. The IRS can revoke your installment agreement if you miss a payment, don’t file a tax return, provide inaccurate information on Form 433-F or pay under a partial payment installment agreement and a review indicates a change in your financial position.
Offer in Compromise An Offer in Compromise allows taxpayers the opportunity to settle tax debt usually for a fraction of the amount they actually owe to the IRS. This could be a viable option if you cannot pay your entire tax debt or if doing so creates a financial hardship for you. The Tax Professionals at Flat Fee Tax Relief have a 96% Offer In Compromise Success Rate.
You do not have to be "destitute" to qualify for a tax settlement through an Offer in Compromise submission. Our tax professionals need to show the the IRS that you do not have the ability to pay your tax debt after all of your "allowable expenses" have been paid.
The IRS will consider a number of factors including your income, expenses, ability to pay and asset equity. The IRS will typically approve an offer in compromise if the amount you offer represents the most they can expect to collect from you within a reasonable period of time. You may choose to pay the offer amount in a lump sum or in installment payments.
THE IRS WANTS TO DO 2 THINGS: COLLECT MONEY (EVEN A VERY SMALL AMOUNT) AND CLOSE A FILE. AN OFFER IN COMPROMISE ACCOMPLISHES BOTH OF THESE GOALS.
Preventing Wage Garnishments (IRS Tax Levy)
If you owe the IRS money, the agency may begin seizing a portion of your hard-earned wages in order to recover your tax debt. Typically, this action known as a wage garnishment (#IRStaxlevy) will not happen until after your paycheck or bank accounts have been frozen and your assets have been confiscated. As part of this action, the IRS can take a portion of your wages for each pay period directly from your employer. THE TAX PROFESSIONALS AT FLAT FEE TAX RELIEF ROUTINELY HAVE AN IRS WAGE GARNISHMENT STOPPED AND RELEASED IN ONE DAY. If you are being subject to wage garnishment (#IRSgarnishment), it is time to speak with an experienced Florida tax professional who can have the wage garnishment stopped and released as well as help you negotiate a settlement with the IRS. Contacting a Florida Tax Professional
If you are feeling anxious and overwhelmed by your IRS tax debt, it is imperative that you immediately contact an experienced Florida tax professional who can help negotiate with the IRS. Do not wait for those penalties to pile up and double your tax debt. Please contact our experienced Florida tax professionals today for a free consultation.
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