Tax debt can be resolved even if a taxpayer cannot pay the full amount of taxes owed. The IRS first reviews the financial condition of the taxpayer, the assets possessed by the taxpayer, and their liabilities before they consider reducing the tax debt. If the IRS discovers in their assessment that a reduced tax debt amount is the most that they can hope to be repaid, they will allow the taxpayer to pay a reduced sum and resolve the debt.
By using the assistance of a tax professional or a tax resolution service, a taxpayer’s resolution case is prepared and represented competently. A case that is well-prepared and is represented expertly has a better chance of getting the most advantageous resolution from the IRS.
Many cases of tax debt are complex, and taxpayers need to understand the various qualifying factors of the different IRS tax debt resolution plans. Both preparation and representation require comprehensive knowledge of tax laws, the various tax codes, and IRS policies regarding tax debt and its resolution. Therefore, to get the most beneficial resolution, most taxpayers use the services of a tax resolution company or a tax professional.
Resolving tax debt using professional help allows for an easier, faster and more advantageous resolution. Even though simple tax cases do not require professional assistance, for complicated cases, it is best to use expert help.