Akron IRS Help

You do not want to have unresolved problems with the IRS. Failing to address the matter can result in the IRS putting a levy (seize) your assets - from your paycheck or bank account(s).

There are many ways to keep the consequences to a minimum. One way is referred to as making an Offer in Compromise. Taxpayers have the option to settle their tax debt in full via this Congress-mandated program. This is an offer based on amount calculated by the IRS and may be for less than the total amount originally due. Your property or wages will no longer be seizable once there is an offer in place. There are three basic forms of this type of offer.

The first is Doubt as to Liability. Whether the taxpayer lawfully owes the money at all is what is in question here.

Doubt as to Collectability is the second type of offer. When you think of an Offer in Compromise, this is the most common type of offer you would make.

The name of the third type of compromise is Effective Tax Administration. These offers are rare, at least in terms of acceptance by the IRS. It is for taxpayers who can afford to pay (at least on paper) but forcing them to do so would be difficult.

There is a fairly well-kept secret that is the second basic way of resolving problems with the IRS. The IRS has a time limit for the collection of income tax. Generally ten years from assessment of the tax, the Collection Statute Expiration Date (CSED) occurs. Sometimes, you can simply sit and wait.

A third way of resolving IRS problems occurs when a taxpayer has no ability to pay. Currently Not Collectible is the name of the status of this situation. This is also referred to as Status 53, so named because the number on the screen that an IRS employee sees for this procedure is: 53. Taxpayer's accounts are placed in hardship status for a year or so at a time, but the collection statute continues to run.

Setting up a payment plan or installment agreement is the fourth alternative. It is straightforward.

If you are in Chapter 13, a bankrupt status, you may also obtain tax debt relief. In this case, some of the taxes and penalties are dischargeable, and those that are not may be paid without interest.

Penalty abatement is the sixth of your options. Cancellation of any penalties is what this actually is. You must still fully pay your original tax debt.

Finally, there is what is referred to as Innocent Spouse Relief. Failure of a current or former spouse to file or pay taxes can be forgiven.

When you are ready to resolve your IRS problems, you are well advised to seek professional assistance.

American Tax Lawyer, Darrin T. Mish represents taxpayers all over the United States and on every inhabited continent. His many years of experience in dealing with tax problems benefit clients tremendously. For more information, visit http//americantaxlawyer.com. Darrin may be reached by calling toll free (888) 438-6474.