Miami IRS Tax Help

You do not want to have unresolved problems with the IRS. The IRS can even seize funds from your paycheck or bank account(s) if you fail to address the matter.

You can keep consequences to a minimum in any one of a number of ways. One way is referred to as making an Offer in Compromise. There is a Congress-mandated program that allows taxpayers to try to make an offer to settle their tax debt in full. The offer can be less than the full amount but is calculated by the IRS. Once there is an offer in place, your property and wages are no longer seizable. This type of offer has three basic forms.

Doubt as to Liability is the first of these. This type of offer can only be made when the taxpayer questions whether he lawfully owes the money at all.

The second of these is called Doubt as to Collectability. 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. It is a rare event when the IRS accepts this type of offer. In this type of settlement, there is usually some difficulty in implementing payment.

There is a second way of resolving IRS issues, and it is actually a fairly well-kept secret. It is based on the time limit for the collection of income tax. The Collection Statute Expiration Date (CSED) usually occurs ten years from assessment of the original tax debt. It is possible to simply wait this out.

When a taxpayer is deemed by the IRS to have an inability to pay, this third way of settling the debt can be implemented. In this case, the taxpayer's account can be placed into a status called Currently Not Collectible. When you are in status of Currently Not Collectible, the screen number that the IRS employee looks at is 53 - hence the name. Taxpayer's accounts are placed in hardship status for a year or so at a time, but the collection statute continues to run.

You can set up, as your fourth alternative, a payment plan or installment agreement. This is fairly straightforward.

Another method of obtaining relief from IRS tax debt is via bankruptcy. Some of the taxes and penalties or interest levied by the IRS may be discharged in this case.

Your sixth option is penalty abatement. Cancellation of any penalties is what this actually is. You still must pay the original tax.

Innocent Spouse Relief is the last of our seven methods. If your spouse or former spouse failed to report income, reported income improperly or claimed improper deductions or credits, you may be entitled to relief from an IRS debt.

Regardless what your particular situation is, you are well advised to consult a professional to help implement any of these methods.

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.