We all want a worry-free tax filing and paying experience. And in truth, taxes are simple when you fulfill your taxpayer duties 100% perfectly, 100% of the time. The thing is that, for most of us, being perfect 24/7 is not reality. We are all prone to forgetfulness, procrastination and external circumstances getting in the way. That means that we are all at risk of running into one, or a few, IRS tax problems during our lifetime. Understanding what these problems are, why they arise, and how to resolve them is key for a stress-free tax experience!
4 Common IRS problems
- You owe the IRS penalties and fees
- Your tax debt has resulted in a tax levy
- Your tax debt has led to a tax lien
- It’s time to pay your taxes but can’t afford to do so
Related Blog: Understanding IRS Tax Levies and How to Stop Them
Need help with IRS Tax problems? Here are your options!
Pay Your Tax Debt ASAP!
No matter what type of IRS tax problems you are dealing with, the best thing you can do is pay your debt in full. The faster you do this, the better. The more time that goes by, the more penalties and fees that can arise. If you have the funds to pay up your tax debt, do so before getting into more trouble.
Get An Installment Agreement
If immediately liquidating your tax debt is not an option in your situation, you should consider getting a payment installment agreement with the IRS. A tax law professional can best help you with your IRS problems and help you get this sort of agreement. Tax attorneys will work on your behalf to make sure to get an agreement with payments you can actually manage.
Apply For An Offer In Compromise
If the amount you have to pay to the IRS exceeds your RCP (reasonable collection potential), you can apply for an offer in compromise. In these cases, the IRS can choose to settle your debt due to serious hardship. After you apply the IRS will evaluate your eligibility for this IRS problem resolution and give you a response.
Related Blog: Answering 5 FAQs about IRS Tax Lien Assistance
Pay The Correct Tax Only
This type of IRS problem resolution involves paying only the real amount of tax debt back to the IRS. In these cases, you’ll have to get a penalty abatement. A tax attorney can help you solve your IRS problems by applying for this penalty abatement, reducing the amount of money you have to pay.
Do you need help with your IRS tax problems?
Should you consult with a professional? Short answer: Yes! At the Law Offices of Nick Nemeth we seek to find the best resolution to each client’s unique IRS tax problems. We help you navigate through the complex Tax Code. Say good-bye to IRS tax problems. Call us at (972) 426-2553 for a free consultation with Nick Nemeth and his team of experienced tax attorneys.