Daytona Beach IRS Tax Help

You do not want to have unresolved problems with the IRS. Funds from your bank account(s) or paycheck and be levied by the IRS without your even realizing it.

You can keep consequences to a minimum in any one of a number of ways. The first is called Offer in Compromise. This is a program mandated by Congress that allows taxpayers the option of making an offer to settle their tax debt in full. The taxpayer can make an offer to 'settle for less' and the IRS would determine the amount. Once there is an offer pending, the IRS will not levy your property. The offer can be one of three different types.

The first is 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. Within the Offer of Compromise Category, this is the most common.

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. It is for taxpayers who can afford to pay (at least on paper) but forcing them to do so would be difficult.

Now we will discuss the second basic way of resolving your problem, and it is a well-kept secret. The IRS must collect the income tax within a specific amount of time. Generally ten years fro the date of the assessment of the tax, there is a Collection Statute Expiration Date (CSED). It is sometimes possible to wait for the elapse of this date.

A third way of resolving IRS problems occurs when a taxpayer has no ability to pay. 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. Taxpayer's accounts are placed in hardship status for a year or so at a time, but the collection statute continues to run.

An installment agreement or payment plan can also be initiated. This is just what it sounds like.

The fifth way you can be deemed eligible for IRS tax relief debt is when you are in bankruptcy. Some of the taxes and penalties or interest levied by the IRS may be discharged in this case.

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

Innocent Spouse Relief is the last of our seven methods. This, too, is what it sounds like - if your current or former spouse failed to report income, you may be entitled to relief.

No matter which of these ‘methods' you choose to solve your IRS problems, it is wise to seek special counsel for 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.