IRS Tax Debt Forgiveness
Whether you owe the IRS thousands or tens of thousands of dollars in back taxes, you’re likely to be eligible for some sort of tax forgiveness program. Oftentimes, the worse your financial outlook, the more tax forgiveness you’ll be offered. Contrary to how they’re perceived, the IRS isn’t out to destroy you and leave you with nothing; they’re simply trying to do their job of collecting taxes owed. You, as the taxpaying American, have a legal obligation to pay those taxes. However, you may not have been able to pay them and now you feel stuck and feel like the IRS is hunting you down. We understand that your financial situation may be out of your control and you want to do the right thing and get your debts paid, but how? That’s where we come in to help you. We essentially represent you and let the IRS know that you were and are unable to pay the full amount due (especially with all the penalty fees tacked on).
One of the most sought-after methods of resolving an unpaid tax balance is by negotiating for IRS debt forgiveness. We here at Axiom Tax Resolution Group can start removing the stress and challenges that accompany owing the IRS for years of unpaid back taxes. We can analyze your circumstances and find the best way to proceed in your case. Call us now at 205-872-1100 to learn more or request a consultation online. For more information about the potential solutions available to you, visit our IRS Debt Forgiveness Program page.
IRS Debt Forgiveness Program
The IRS Debt Forgiveness program isn’t actually a one-size-fits-all program, but rather 8 separate programs all under the umbrella of tax debt forgiveness. The IRS is so aggressive with their collection methods, many taxpayers mistakenly assume that the only way to get rid of their tax debt is to pay it off all at once and if they can’t do it, they’re stuck. Thankfully, this is not the case; there are many types of payment plans and other tax relief services available under the Federal tax regulations. At Axiom Tax Resolution Group, we can analyze your circumstances and find the best way to proceed in your case. Call us now at 205-872-1100 to learn more or request a consultation online.
You’re probably wondering, “why would the IRS let me off the hook and forgive me for money that I owe them?” Well, the simple answer is it’s illegal for the IRS to collect money from someone who literally cannot afford to pay it. They are not allowed to enforce any collection action on you, an American taxpayer, which would lead you into a financial disaster or crisis. Which is good news for you and it’s why we work with you to find the right way to pay what you can. The goal of a good tax debt resolution program is finding a payment plan or settlement that fits an individual’s needs. One of the most sought-after methods of resolving an unpaid tax balance is by negotiating for IRS debt forgiveness. We here at Axiom Tax Resolution Group can start removing the stress and challenges that accompany owing the IRS for years of unpaid back taxes. Once a resolution program is in place, they can start rebuilding their finances and moving forward to avoid further money problems.
We provide a list of the most common “programs” or options we pursue, because it’s important that you’re well-informed of your options and have a general idea of what to expect so your mind can be at ease. You’re not having to choose a program alone; in fact, you may not even qualify for some of these depending on your current and past financial situation. Axiom is here to access that situation and find the program that would best benefit you. Here is a list of some of the options available that we may better discuss with you in person:
Before you can apply for any type of tax relief from the IRS you’ll need to take care of your unfiled tax returns. We can help you collect any lost paperwork, file your back taxes, and can sometimes get tax penalties reduced.
If financial troubles are inhibiting you from paying your tax debt or if you feel you shouldn’t be liable for the assessed amount of a tax bill, an offer in compromise might be the remedy for your tax problems.
If you’re up to date on filing your tax returns but owe more than you can pay all at once, you may qualify for a type of payment plan called an installment agreement. This solution allows you to pay an affordable monthly payment that will gradually eliminate your tax debt.
If your spouse (or former spouse) failed to report income on your joint tax return, you may be able to apply for innocent spouse relief. We can determine whether your case meets the requirements and submit the correct forms to the IRS.
If you’ve filed your taxes late or incorrectly you can get slapped with steep tax penalties. If this misstep was due to illness, a death in the family, or ignorance of the tax laws, the IRS may agree to forgive or abate the related penalties.
This special provision was designed to protect taxpayers who are unable to work due to illness or unemployment. Acquiring this status temporarily prevents the IRS from trying to recover a tax debt through drastic collection methods like wage garnishment or levies.