How can I Settle Tax Debt?

So you want to settle tax debt. Many Americans are eyeing up tax settlement initiatives recently restructured by the IRS for struggling citizens. Since there is no statute of limitations on a tax liability in dispute in California, your old debts may have doubled or even tripled due to delinquency fines or interest accrual. If your initial tax debt was overwhelming, you can pretty much bet that no they are completely unmanageable. 

Before you decide on high-tailing it to Mexico, consider your options for tax debt relief. You heard right, drop your luggage and shut the car off, you can get out of your tax debt - legally. 

Since the IRS began their campaign to become a shinier more approachable beast, there are more programs available to settle tax debt. Not only have the programs been refreshed, but more individuals can qualify for them - even you. Hiring a tax specialist can help you on your quest to become tax debt-free. They will guide you through the process from inception to completion.

Step One: Settle down and make the call. Many of us aren't criminals, we just don't have the cash to dish out to the IRS; we have rent, mortgages, car payments, and a family (or scruffy pup) to feed. Hire a tax attorney who specializes in tax relief.

Step Two: Get your paperwork in order. The IRS loooves paperwork, so much in fact, we think they may have their own paper mill somewhere in Indonesia. If you have received any notices such as a demand to collect or notice of a possible levy or lien, make sure you don't wait to present these to your attorney. 

Step Three: Consult with your attorney about which tax relief option will be best for your situation. Depending on your circumstance he or she may suggest the following: 

• Offer in Compromise: Your attorney will help you apply for this relief option with the IRS. Once your paperwork is received, the IRS will negotiate your tax debt with your attorney. With an Offer in Compromise, you can settle your debt for significantly less than you owe.
• Installment Plan: If you do not qualify for an Offer in Compromise, your attorney may suggest negotiating a deal with the IRS for less than you owe and then agree to an affordable monthly payment plan to settle your debt.
• Currently Non-Collectible: This option will allow you to get back on your feet if you are financially unable to pay back the IRS. This can buy you some time to get your affairs in order. IRS harassment will cease during this truce period. When you are able to pay, your attorney can negotiate a payment plan with the IRS.

So keep your head and contact the experts at Optima Tax Relief. They will help you get the tax relief you need and keep the IRS at bay. Call today for a consultation, you've got nothing to lose except your hotel reservation in Tijuana.

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