Are You Eligible for IRS Debt Forgiveness?

Because of the increase of issues pertaining to tax debt owed to the IRS, new programs have become available for IRS Debt Forgiveness. In February, the IRS announced that since a multitude of tax payers are facing heavy financial burdens, they are developing new programs for relief, and it is important to speak with a professional tax attorney to find out if you are eligible and how to apply.

Those who are unable to pay may have already received notice of wage garnishment and liens in an effort for the IRS to collect excessive penalty fees and interest on late payments. These ground breaking initiatives may give the delinquent tax payer an out.

Before these initiatives took hold, many tax payers faced additional fees and fines after missing the April tax filing deadline. A flailing economy has force the IRS to put in place systems and programs designed to relieve the pressure and allow tax payers extra time to file. For one, they have put in place the availability for a six month extension period. This would allow tax payers until October to file; minus the penalties and fees associated with a late filing.

If you are in a situation where you feel you are unable to meet the payments the IRS has required of you now is the time to investigate these helpful initiatives.

Pertaining to liens, IRS feels these responsible efforts will help those afflicted with consuming debt:

• The IRS is increasing the threshold when liens are usually used, resulting in a reduction of liens issued to tax payers
• After a tax payer pays off a tax bill, the IRS states it has made it easier for liens to be lifted
• If a tax payer qualifies and enters a Direct Debt Installment Agreement, liens can be withdrawn.
• The IRS is pledging easier access and admission into Installment Agreement plans.
• The Offer in Compromise Program is to be extended to those who truly need it. More Americans than ever are currently eligible for this type of tax relief plan.

In reality, this extension of the olive branch is significant; the IRS is not a forgiving entity and these types of changes can truly help individuals escape financial disaster due to overwhelming tax debt. It is important to seek assistance whenever possible when considering taking on the IRS. Their systems are designed to collect as much money in as little time as possible for the government.

Often tax debt can be paid; it is the accumulation of penalties, fines, wage garnishment, liens, etc. that can throw the tax payer off kilter financially. Stop harassment from the IRS and begin taking advantage of what relief you may be eligible for by contacting the best tax lawyers in California. Get your life back, call today. For More Information Click Here.