Tax debts can be a huge burden for both individuals and business owners a like. The interest charges and penalties on back taxes can quickly add up to thousands of dollars. If you find yourself in a situation where delinquent tax bills are accumulating, an IRS tax settlement might be the right strategy for you. Tax settlements are a process where someone who has a back tax liability is able to get the Internal Revenue Service (IRS) to accept an amount less than the full amount owed, as payment in full. The agreement with the IRS to accept less than a full payment and still consider it payment in full is called a settlement.

Typically a taxpayer who has a back tax liability is able to save thousands of dollars by settling with the IRS, however, there are many factors that come into play when negotiating, such as:

• Amount of Back Taxes
• One’s Age
• Expenses
• Income
• Assets
• Financial Hardship

The IRS offers a few different tax resolution programs based on an individual’s financial hardship. The IRS does not openly promote these programs since they would rather collect the entire amount of back tax, but many times the IRS will accept a settlement as payment in full.

The IRS closely examines every case. If a proposal is inaccurate or incomplete, the IRS is likely to reject the application and potentially even make the taxpayer pay more than they originally owed. Knowing how the IRS handles these matters is vital to your success. Unless you have worked with the IRS before, or have an extensive knowledge of the tax code and laws, we do not recommend that you try to handle a tax settlement on your own. By working with an experienced company that deals with IRS tax settlements, you will not only save yourself a lot of time, but will also end up saving yourself a lot of money.

Our affiliates can help you reduce your IRS penalties and put an end to garnishments, liens, levies, and just about any other tax problem that you might have.

At S.J. Packman & Associates, before we make any recommendations, our attorneys, certified debt specialists, and paralegals, are trained to ask the right questions to find out about your specific situation. Based on your current income and your financial hardship, we will determine which course of action will work best for you. We do not only offer one path, as there is no one process that can solve everyone’s needs. We will take our time with you and help evaluate what your best course of action should be. Call now and one of our advisors will be there to get you started on your path to financial freedom. There is no obligation to enroll, so don’t delay.