Tax Relief Louisiana
Tax Relief is Available for You!
You recently received the dreaded letter from the IRS informing you that you have been selected for audit, for unpaid taxes, or worst yet garnishment of wages. Now you’re seeking IRS tax relief and you don’t know where to start. This notice requesting payment for an IRS debt will, in all likelihood, arrive at the most inopportune time. In Louisiana, is there a good time? The extra burden of state income tax only makes matters worse, even though its less than some states. Then you think about your monthly bills and your adult obligations and responsibilities. This news would add stress to even the calmest of people, let alone the pain in your wallet. Every cloud has a silver lining and yours is IRS tax relief and it is available for you to just request the help, even in Louisiana.
The reasons, which we mentioned a couple previously, you might have an IRS tax debt or received notice are plentiful. The only thing that is common among all notifications are notice standardization and the drive of the IRS to collect. Included in the notice you receive will be the amount the IRS believes you owe, the tax years in question, payment due dates, and any pending IRS action. They will include a phone number for you to call if you have any questions. We recommend verifying the valid of the IRS debt claim immediately. If it is inaccurate, then it can be quickly resolved. If it is accurate, then the next step is exploring all your options for Louisiana tax relief. We definitively do not recommend dealing with the IRS alone.
Available IRS Tax Relief Programs
As many reasons as the IRS has to contact you, in Louisiana, there are an equal or more number of available IRS tax relief programs. First and foremost, which is most people, the ability to pay the full amount owed, according to the IRS, is not feasible. The option available is an Installment Agreement or some other form of IRS payment plan. This option allows you the opportunity to pay your tax debt over months or maybe years. Another viable option that can be considered is to seek Currently Not Collectible status. This option works if you are unable to make any payment toward your tax debt, and it prevents IRS collection action for a certain period. Sometime this course leads to prevention indefinitely, maybe leading to IRS forgiveness of debt. A third option, for IRS tax relief, is a settlement.
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As mentioned, settlement with the IRS is an option. If the situation is right, the IRS may be willing to settle for far less than what you owe. To qualify for a settlement request, such as an Offer in Compromise, can be quite strict and will require you to provide detailed financial information. It is important to note only a small percentage of settlements are approved by the IRS each year. Also, your tax debt statute of limitations is suspended when your settlement request is being reviewed, essentially extending the amount of time the IRS has to collect what you owe. A tax debt settlement may be your best option, but you should consult a tax relief expert before attempting to request a settlement.
You have looked at your options moving forward and have an idea which option works for you. Please consult with a licensed tax professional first. Tax relief professionals, such as Tax Relief Systems, can provide you with a free consultation to determine what option is going to work best for you, after considering your situation and budget. Opting for professional assistance when handling your IRS tax debt is the best option. It is never wise to go it alone when dealing with the Internal Revenue Service.