Akron Tax Relief

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 a number of ways you can keep this from occurring. An Offer in Compromise is the first method we will discuss. There is a Congress-mandated program that allows taxpayers to try to make an offer to settle their tax debt in full. This is an offer based on amount calculated by the IRS and may be for less than the total amount originally due. Once there is an offer in place, your property and wages are no longer seizable. This offer can be in one of three basic forms.

The first is called a Doubt as to Liability. What is in question here is whether the taxpayer lawfully owes the debt.

The second of these is called Doubt as to Collectability. This is the most common type of offer made in an Offer of Compromise.

The third type of compromise is called Effective Tax Administration. This is a rare offer in terms of acceptance by the IRS. It is designed for taxpayers whom the IRS feels can afford to pay their debt and applies when there may be some mitigating circumstances.

The second basic way of resolving your IRS problems is a fairly well-kept secret. It is based on the time limit for the collection of income tax. Generally ten years from assessment of the tax, the Collection Statute Expiration Date (CSED) occurs. It is sometimes possible to wait for the elapse of this date.

The third way to handle IRS difficulties applies if a taxpayer has no ability to pay (according to the IRS' analysis). When this happen, the taxpayer's account goes into Currently Not Collectible Status. When you are in status of Currently Not Collectible, the screen number that the IRS employee looks at is 53 - hence the name. When in Status 53, your debt is placed in 'hardship' category, and the collection statute continues to count down.

The fourth alternative is to set up an installment agreement of payment plan. It is straightforward.

If you are in bankruptcy, you may be eligible for the fifth 'method' of obtaining IRS tax debt relief. If you have filed for bankruptcy, some of the taxes and penalties are dischargeable and those that can't be may be paid without interest.

Penalty abatement is your sixth option. In penalty abatement, quite simply, you are asking for those to be cancelled. The original tax debt is still owed.

Finally, there is what is referred to as Innocent Spouse Relief. Under specific circumstances, taxes due by a former or current spouse can be forgiven.

When you have had tax issues with the IRS, you are well advised to seek professional assistance for resolving the matter.

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.