When we talk about tax debt relief, we must also think about how much relief we can get. You do not necessarily need to agree with the IRS on how much of the debt amount you need to pay and during what time period. Depending on your financial condition, you can propose your own terms to the IRS. That is the job of tax relief companies and tax professionals. They prepare and negotiate your case with the IRS to get you maximum benefit while resolving your tax debt.
There are four IRS debt payment plans that taxpayers can choose from to resolve their tax debt. Installment Agreement can be chosen if you can pay the entire debt amount whereas Offer in Compromise and Partial Payment Installment Agreement are picked when taxpayers can only afford to pay the debt partially. Currently Not Collectible is for those who cannot pay any amount of tax debt.
Knowing the basics of tax debt relief can help you not only in choosing the right help, but also in better understanding of how your tax help is managing your case. Help you choose for tax debt relief must have tax attorneys, enrolled agents or CPAs in its team. Without these tax lawyers, there can be no negotiation with the IRS as only they are legally permitted to represent taxpayers before the IRS.
Early and advantageous tax debt relief can be achieved only if you hire a legitimate, expert and experienced tax company or professional. Look to get maximum benefit as you resolve your tax debt case.