Denver IRS 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 method we will look at is called Offer in Compromise. This is a Congress-mandated program that allows taxpayers to make an offer to settle their tax debts in full. The IRS can calculate an amount less than the full payment originally deemed due. 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. What is in question here is whether the taxpayer lawfully owes the debt.

Doubt as to Collectability is the second of this offer type. This is the most common type of offer and what people typically think of when they think of an Offer in Compromise.

Effective Tax Administration is the third type of offer. This type of offer is one of the most rarely accepted by the IRS. In this type of settlement, there is usually some difficulty in implementing payment.

There is a fairly well-kept secret that constitutes the second basic way to resolve IRS difficulties. The IRS has a time limit for the collection of income tax. This is called the Collection Statute Expiration Date (CSED) and is generally ten years from the date of the assessment of the tax. Sometimes you can just wait for this date to elapse.

This third method happens if the IRS determines that a taxpayer has no ability to pay. Currently Not Collectible is the name of the status of this situation. Status 53 refers to the screen number of Currently Not Collectible Status at the IRS. During the time you are in this status, your debt is in the hardship category and the collection statute continues to run.

The fourth alternative to handling unresolved IRS issues is to set up an installment agreement (payment plan). It is straightforward.

Another method of obtaining relief from IRS tax debt is via bankruptcy. 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.

The sixth of your options is penalty abatement. Cancellation of any penalties is what this actually is. The original tax must still be fully paid.

Innocent Spouse Relief is the last of our seven methods. Here, taxes due by a former or current spouse may be forgiven under particular circumstances.

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.