Tax Relief Considerations

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With the existing record federal deficit, Americans can count on more tax audits and increasingly aggressive collection tactics by way of the IRS. Nevertheless the excellent news coming out of this will be; the sooner you happen to be taking excellent care of your delinquent taxes, the less penalties and interest you’ll owe. For those who have unfiled tax returns or owe IRS back taxes it really is crucial to evaluate which would probably be the most efficient IRS tax relief option for your particular situation. It is also vital that you simply view the process for resolving your IRS tax debt so you’ve got realistic expectations and know which tax resolution strategies you are in a position to take advantage of.

While you’re able to run you can’t hide from the IRS. In 2008, the government collected $56.4 billion in back taxes, $7.7 billion more than in 2006. And Congress has sent another $12.2 billion request for the IRS this year resulting with a record $5.5 billion budget and countless new IRS agents that have been hired to crack down on back taxes and delinquent tax returns.

If back taxes are a problem you face it is important to realize you have solutions in front of you. For those who have unfiled tax returns it really is always safer to file them – whether they are a couple days or even a couple years late – as opposed to not file them at all. Filing any tax returns which are due in the earliest chance can help you resolve IRS back taxes minimizing additional interest and penalties. No matter what you’ve heard, there is certainly an option to file your original tax return, no matter how late it’s filed. So whether you have one year or ten years of unfiled tax returns, comprehend that there is a solution to repair every problem. The more time you put off coping with past due taxes, the more serious your IRS problems are going to become. Failing to file tax returns tends to make you a threat of potential IRS collection tactics, like a levy on your personal wages or bank account, and might even be construed becoming a criminal act through the IRS, punishable by a single year in jail and $10,000 for every year not filed.

Get help to save time and money. If you owe greater than $15,000 using the spine taxes or have 3 years of unfiled tax returns, you need to hire an specialist tax attorney or Certified Tax Resolution Specialist. A tax relief professional could help you save time, money, and frustration by educating you up front on what you will need to complete to resolve your specific IRS problems – while helping ensure you don’t pay a penny greater than you need to.

File your tax returns ahead in the IRS files them for you personally. If you don’t file your taxes, the government may file them to suit your needs. What several men and women don’t know is that the IRS prepares alternatives to returns inside the welfare from the government, which regularly brings about the overstatement from the taxpayers owe using the spine taxes and IRS penalties.

If you are eligible to get a a proposal in compromised tax settlement, you are able to save 1000s of dollars from the spine taxes, penalties and interest. Having expert representation can greatly boost your chances of successfully negotiating and winning tax settlements.

So even when you cannot afford to pay your tax bill, it is vital to file your most recent tax returns, also as any prior delinquent tax returns, in the earliest opportunity so that you’ll be able to state what you truly owe. This could ultimately save you cash and enable you to avoid significant long-term financial repercussions.

Additionally, a tax lien might be filed in the installment payment agreement, with regards to the quantity of the whole back tax liability. Although it could be forever in the best interest with the IRS to get a signed waiver, it could possibly not preserve the taxpayer’s interest, so consult your tax attorney or tax resolution expert first.

If you don’t qualify for a deal in compromise, you will find other tax relief options including negotiating for your account being placed in a “currently not collectible” status. An expert IRS tax attorney or Certified Tax Resolution Specialist will help you explore potential tax relief options.

Get on an agenda. In the event you cannot pay your back taxes in complete but occasionally potentially reimburse over time, it’s possible to negotiate a reasonable monthly payment plan utilizing the IRS. A tax attorney or Certified Tax Resolution Specialist will aggressively negotiate an arrangement for the greatest monthly payment and selections for making those payments. Once an IRS Payment Program (also called an Installment Agreement) is made, the internal income service won’t enforce collection action, for example the levy of bank accounts or wages, so long as you remain current with all filing and payment obligations. However, interest and penalties continue to accrue.

The internal revenue service wants to set forth a kinder and gentler image in the face of the present economic meltdown. Nevertheless the truth remains that as a way to get the tax relief you are going to need, you may require help filing those unfiled tax returns and make payment on back taxes you owe. Realize that the important word in tax relief is relief, and you now have the power and the knowledge to produce a much better result.

To get all of your tax relief questions answered and to learn about the options in front of you please contact our office or browse our website to learn how we can help you. We’re able to chat in detail about many tax organizing and business strategies for you, so contact us now and let us assist and prepare you for the future. Here on our web site you can utilize the knowledge available, and prepare to make contact with a specialist tax relief company advisors and/or Enrolled Agents who will aid or provide you using the tools you’ll need for tax relief.

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As seen in Forbes Magazine, Karla Dennis is an expert tax and business strategist. As an enrolled agent, Karla is licensed to represent taxpayers in all 50 states. She holds a Masters in Taxation and Business Development and is the author of two books, Tax Storm and Against the Odds.


Karla, CEO of consultancy firm Karla Dennis And Associates, Inc.™, has saved her clients thousands of dollars and has been featured in various media outlets such as Forbes, MSNBC, KTLA, Yahoo! Finance, and SmartMoney, marking her as the ultimate tax expert.


As of 2014, Karla became the new host on the “Mind Your Business” radio show, KTLK AM 1150, sharing her financial and business knowledge with the greater Orange County and Los Angeles areas. As a supporter of women’s rights and issues, Karla is part of the Women Network, an organization built to educate and mentor women. In addition, Karla is the radio host for Women Network Radio, a show that aims to uplift and empower women of all walks of life.

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