Friday, July 17, 2020

Does tax debt relief work? Call 855-913-0249 for free tax consultation.

tax debt relief

Does tax debt relief work?

tax debt relief


Tax debt settlement is also a legitimate form of relief. However, it’s not as common as you might think. 


tax debt relief
Call 855-913-0249 for free tax consultation. 

The IRS doesn't have any statute of limitations on collection like you see with other types of debt. 

tax debt relief

As a result, they’re willing to be patient and wait for you to have the means to pay them back. You only qualify for an OIC if you can show the IRS that there is no reasonable expectation that you can repay the full amount owed.

Call 855-913-0249 for free tax consultation. 


tax debt relief



For instance, tax debt forgiveness sounds great, but the only way you really qualify for it is through Innocent Spouse Relief. Unless you can prove a spouse incurred the tax bill without your knowledge, forgiveness without at least some repayment is unlikely.


tax debt relief

Most tax debt relief happens through a combination of penalty abatement and setting up an Installment Agreement. You pay off everything you owe. However, you reduce the penalties to minimize the cost. Then you spread out the remainder and pay it back in monthly installments over time. It can take a few years, but you’ll be out of debt and straight with the IRS.

Call 855-913-0249 for free tax consultation. 


tax debt relief

Currently Not Collectible (CNC) status can also provide relief if you don’t have the means to pay. As long as you can show that you can’t afford to pay your back taxes, the IRS will stop collection actions. That means you won’t receive another Notice of Federal Tax Lien against your property or worry about levies draining your accounts.

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