Tax Relief Help & Solutions | Axiom Tax Resolution

TAX RELIEF SOLUTIONS

For professional help navigating your tax debt, call Axiom Tax Resolution Group today.

One of the common misconceptions about the IRS is that once they issue out a tax debt, there is no leniency available. Often, the IRS office can feel aggressive with their collection methods, to the point that many people believe their only option is to pay their debt off quickly in one lump sum.

However, that is not the case. While federal tax debt might be a life stressor that you feel you have little flexibility in, the IRS offers tax relief solutions to make your debt more manageable. There are even plans available to remove tax debts entirely.

Despite tax relief solutions being available to every taxpayer, they can be challenging to apply and get approved for without help from a tax professional. The IRS will thoroughly vet applications for debt relief and reject those they feel do not qualify. That is why it is vital to have tax experts who know what the IRS looks for, helping you through every step of the process.

The Axiom Tax Resolution Group team in Birmingham, AL, are ready to be those experts for whoever needs tax relief services. Our group can help you navigate your tax debt by finding a relief solution that fits your situation.

Common Debt Forgiveness Plans

It’s important to know that not all tax solutions are the same. Often, the IRS designs debt forgiveness plans to address specific situations. But while the unique aspects of debt forgiveness vary from plan to plan, most of the solutions fall within three general categories.

      Partial debt removal
      Full debt removal
      Debt payment installments

Which tax relief solutions are right for you will depend mainly on your income and general living expenses, but the Axiom Tax Resolution Group team will help you find the perfect plan.

Filing Back Taxes (Unfiled Tax Returns)

Before you can get approved for any debt forgiveness plan, the IRS will ask you to file all your back taxes. However, filing your taxes can be a debt forgiveness solution in and of itself, as the IRS will often reduce or remove penalties once you have filed all your back taxes.

Offer in Compromise

An offer in compromise is a form of debt relief where the IRS will lower the total amount of money you owe. The IRS often approves these tax relief solutions for people struggling through financial hardships who cannot pay their living expenses with the added burden of tax debt.

Installment Agreement

An installment agreement will not lower or completely forgive a person’s debt but will allow them to pay it off in monthly installments. The IRS grants these plans to people caught up on their taxes but cannot afford to pay their debt in one lump sum.

Innocent Spouse Relief

Innocent spouse relief is one debt forgiveness plan that could end with the IRS removing all your tax penalties. If your current or former spouse failed to report their income or misreported it when you filed your taxes, you are eligible to apply for this plan.

Penalty Abatement

With penalty abatement, the IRS can remove or reduce the penalties you have incurred from late or unfiled taxes in instances of personal hardship. 

If you could not file your taxes by the deadline for one of the following reasons, the IRS might adjust your debt.

      Extended illness
      Death in the family
      Ignorance of tax laws or tax deadline

Currently Not Collectible Status

For taxpayers who have suffered through extended illness or long periods of unemployment, you might be eligible for the currently not collectible protection. If approved for this tax relief solution, the IRS will delay the deadline for your payment and won’t take aggressive collection measures such as wage garnishment. 

Get Approved for Debt Relief With Axiom Tax Resolution Group

The IRS offers a handful of tax relief solutions for taxpayers struggling through personal and financial hardships. However, choosing the right one and applying for it can be challenging when you don’t know where to begin.

That’s where the tax experts at Axiom Tax Resolution Group come into play. Our team will work with you and the IRS to find a relief plan that makes sense for both parties and have you feeling comfortable with your finances. 

To schedule a free consultation with Axiom Tax Resolution Group in Birmingham, AL, call us today at (205) 872-1100