Resolution of tax debt must be achieved after carefully considering the various options available. For taxpayers that are unable to pay their entire back taxes in a single payment, various IRS tax debt payment plans are available. They allow taxpayers more time to pay, reduction in tax debt, or postponement of payment of tax debt.
Some of the popular tax debt payment plans include Installment Agreement, Currently Not Collectible, Offer in Compromise, and Partial Payment Installment Agreement. Every payment plan has qualifying factors that need to be met by taxpayers. Negotiation with the IRS is possible if the particulars of a case allow that.
Tax lawyers, including tax attorneys and enrolled agents have the legal right to represent a tax debt case before the IRS. As they have the experience and the expertise in resolving tax debt cases, they prepare a tax case considering all possibilities. Most taxpayers hire help for IRS debt resolution because it helps them to achieve a more favorable, smooth and quick resolution.
IRS debt resolution is simple to achieve if taxpayers choose the most appropriate tax debt payment plan, understand IRS policies and qualifying factors for the various tax debt plans, and negotiate its particulars with the IRS. If every step of tax debt resolution is carried out professionally, taxpayers can satisfactorily resolve their back taxes.