IRS Tax Negotiation

Negotiating Owed Taxes with the IRS

Owe taxes to the IRS? No problem. You can negotiate with the IRS if you act quickly because delaying this issue will only increase your tax liability. The penalties will also increase because of the interest charged on the due amount. And there’s a real risk of wage garnishment, which can ruin your credit score. You can negotiate with the IRS and get a tax settlement depending on your current financial situation.

Penalty Abatement

You can reduce or entirely eliminate the interest and penalties the IRS has levied on you depending on your financial situation.

Payment Extension

The IRS offers a short payment extension to those who’ve recently gotten into tax debt.

Payment Plans

You can negotiate a payment plan with the IRS in order to pay back your tax debt.

Partial Payment Agreement

The IRS may accept partial payment for the debt you owe if your financial situation isn’t good.

Offer in Compromise (OIC)

You can use the Offer in Compromise to check if the IRS would be willing to settle for an amount that’s lower than your debt.

Currently not Collectible

If you present evidence that you’re in extreme financial distress, then the IRS will halt all collection efforts against you.

While you’re legally allowed to negotiate with the IRS by yourself, you should seriously consider consulting a US Tax Expert. A little guidance can go a long way. An expert can not only help you apply but also help you choose the best option for dealing with your debt.

Tips To Negotiate With The IRS

Negotiating with the IRS for an extension, settlement, or forfeiture can be an uphill battle. But here are some tips that’ll help you navigate the complex negotiation process.

Organize Your Paperwork

Before you start the negotiation process, you should organize all your paperwork – bank statements, pay stubs, tax records etc – so that you can back up your claims.

Seek help from Tax Consultants

If you owe more than $10,000, then you should consult a Tax expert before you start the negotiation process.. Take some time to consult different experts and find out the best strategy to deal with this issue.

Take Action ASAP

The more you delay the tax negotiation, the more interest you’ll accrue. So the sooner you take action, the better the outlook for your financial future.

Common Questions About Tax Negotiation

Will I accrue interest during the IRS tax negotiation process?

Yes, you will until you reach a compromise with the IRS.

Can I seek a tax settlement with the IRS if I’m currently filing for bankruptcy?

No, you can’t till the bankruptcy proceeding continues.

Do I need a tax consultant or lawyer to negotiate with the IRS?

No, you don’t. You’ve the legal right to negotiate on your own behalf, but a tax consultant can help you navigate your options in order to maximize your chances of getting an extension or reaching a compromise.

How much are tax negotiation services?

The cost will differ. Make sure the company you choose is clear and transparent about its pricing. During your free consultation with us, professionals will describe charges and financing possibilities.