The Offer in Compromise is a specific tax relief option made available by the IRS through which a taxpayer offers the IRS a certain amount of money in exchange for which the IRS agrees to cancel the taxpayer’s outstanding tax debt. While it is an effective tax settlement option for a very specific group of… Continue reading →
Settlement
Another Tax Settlement Option – A Partial Payment Installment Agreement
Due to the current economic climate, more taxpayers are finding themselves with significant outstanding tax debt. Many taxpayers owe both the Internal Revenue Service and their state (or states) for multiple years. Some taxpayers are simply overwhelmed by the numerous IRS Notices and Letters from the IRS that they receive. In actuality, there are numerous… Continue reading →
Learn How the IRS Grants An Abatement of Penalties
Penalties in the form of interest and other fees are incurred when a taxpayer fails to file a tax return by a filing deadline and/or fails to pay a tax debt when it is due. Although interest and other penalties assessed by the IRS function to create equity within the tax system and encourage compliance,… Continue reading →
In these economic times being considered “Currently Not Collectible” is not complete freedom from tax debt, but it can provide some tax relief.
It is no secret that Americans have been facing difficult times. At Professional Tax Resolution Inc., we have found that more taxpayers than ever are finding themselves with significant tax debts that are so large they are very difficult or even impossible to pay. For some people a monthly tax settlement payment can create a… Continue reading →
