Ways Issues With The IRS Are Resolved With The Help Of A Tax Resolution Specialist

Owing the IRS money for back taxes and fees can be a scary situation. Hiring a tax resolution specialist may be a good way to find some peace of mind. Here are a few ways issues taxpayers tend to have with the IRS can sometimes be resolved with the help of one of these professionals. 

The specialist negotiates an installment plan to pay old tax debts. 

The number one thing the IRS cares about is getting the money that they are owed from the people that owe them money, even if that means they have to work with you to set up an installment plan to pay past-due debts. A tax resolution specialist can work with the IRS to negotiate an installment plan that works to pay off what you owe and will not leave you financially burdened by making the payments. 

The specialist helps you complete and submit past-due tax returns. 

It is not uncommon for some people to get in trouble with the IRS simply because they have neglected to file taxes in the past. If this is an issue you are facing, it is always best to have a tax resolution specialist working with you to get those returns filed. In many cases, the specialist can work with the IRS to give you a little more time so you can get the appropriate returns filed, but they will also help negotiate payments to get you out of trouble with the agency. 

The specialist can negotiate penalty abatement to lower past-due penalties. 

The specialist from the tax resolution service may even be able to help you if you cannot pay your tax bill simply because the penalties of that bill have grown so large that you cannot afford to pay. For example, if you owed an old tax bill and it accrued several thousand dollars on top of the actual bill, the added penalties can make it hard to pay what you owe. Penalty abatement involves working with the IRS to reduce penalties and fees to make the tax bill more affordable. 

The specialist may be able to help you with an Offer in Compromise (OIC). 

The Offer in Compromise is a standard practice in debt collection, and it is one that the IRS will sometimes recognize. The OIC involves making a settlement offer to the IRS that is less than the wholly due amount in exchange for a release from the responsibility to pay the remaining balance. Even though OIC approvals with the IRS are rare, a specialist may be able to help you submit an OIC request. 

For more information, contact companies like McClure & Stewart Tax Resolutions.