Do you owe back taxes to the federal government or the State of Arizona Department of Revenue? Hopefully you understand that both entities access fines and interest that can quickly rise to an uncontrollable level. The solutions offered by both are easy and are almost identical. However, that does not stop the relentless actions by their agents to collect. If anything it makes them more aggressive because in their view you should get them completed quickly. Often a discrepancy exists between the amount they think you owe and what you really owe. This discrepancy needs to be sorted out and you cannot go at this alone.? Self-representation is not recommended. Sometimes cases are eligible for tax bill reduction or elimination. This may be a feasible option depending on the circumstances.
Penalty Abatement in cases of a major illness, unemployment or the loss of tax records in a natural disaster, the IRS will consider waiving all or some of the fees. The fees, fines, and penalties can increase your overall tax bill by 25% or more. If this is the case, you will still be responsible for paying the underlying taxes.
Offer in Compromise If the IRS believes it will be unable to collect the entire amount it is owed. Or, there is a doubt as to the accuracy of your tax bill. Or, full payment of your back taxes will cause a serious financial hardship, then you may have the unique option of settling for less than the full amount of taxes you owe.
Innocent Spouse Relief this is a special circumstance of which your IRS issue is the result of erroneous tax returns filed by your spouse or ex-spouse. In this circumstance the government will consider what is known as innocent spouse relief, which relieves you of the responsibility of paying back taxes owed as a result of your spouse’s fraud or deception. However, you may still owe unrelated back taxes.
Financial Hardship In cases of serious financial hardship, the IRS will consider a variety of solutions to ease your situation. You may be able to skip a monthly payment, reduce your monthly payments, for example, or the IRS may suspend collection efforts.
- Natural Disaster
- Currently unemployed and it would cause financial hardship to pay taxes owed
- You received a significant decrease in pay and paying the taxes owed would cause financial hardship
- Large medical expenses incurred or currently ill
- Unexpected home or auto repairs that caused financial hardship
- Death in the Family
- Large moving expenses
- Separation or Divorce
- Child Support
Arizona is feeling the same increase in tax related problems. Tax Relief Systems, LLC has experienced firsthand the burden tax issues weigh on families and individuals. The stress is amazing. You do not have to go through this alone. This view has refocused our dedication to assisting individuals and businesses find a solution to IRS and Arizona Tax problems.? Our staff of professionals has seen almost all possible tax situations and are able to confidently provide solutions. If youre not sure where to start, our Arizona office is just a phone call away.
Do not wait these issues must be addressed now. If you experiencing any of these, please call us today. Any misstep can cost you money.
Our team is waiting to help. Please call us today to help relieve your tax issues. Do not hesitate or procrastinate when dealing with the IRS or State Tax Department.