Many consumers find themselves unable to resolve their problems without assistance. The IRS is asking them to pay more than they can afford or worse being threatened by the IRS to pay in full.
The fact is that resolving your tax problems is made easy when you understand your rights as a taxpayer. Obviously, there is never a “one size fits all” to resolving tax problems. However, if you understand the basic IRS Programs for consumers that owe income tax there is light at the end of your tunnel.
The IRS bases its solutions to a consumer’s options based on the taxpayer’s ability to repay the consumers ability or lack of ability to repay the taxes owed. How the IRS evaluates the taxpayer’s ability to pay the taxes back are done two ways. They can review your income minus your IRS allowable expenses or use the IRS National Standards to be able to decipher what your ability to pay the IRS back the money you owe. A good example is if you make $4,000 a month and you spend $3,500 a month on your basic living expenses you have $500 left over and that is what you can afford. You can find a link here to the IRS to calculate your IRS National Standards https://www.irs.gov/businesses/small-businesses-self-employed/collection-financial-standards.
This will give you an edge on using the IRS National Standards in your favor when calculating your ability to make payments to the IRS.
Keep in mind at the end of the day, pros and cons are facts of life. The IRS has 4 programs if your IRS past due tax is legitimate to resolve your debts. The IRS has a Structured Installment Agreement, a partial installment agreement, a program where you pay nothing that is renewed annually based on your newly reviewed ability to make a payment and then the well-televised “Settlement Agreement” we all see on TV. Each of the 4 options the IRS offers comes with a pro and a con.
Some programs can affect your credit, some do not. Some programs offer very reasonable interest rates and minimal penalties, some have very high interest and penalties. Some have credit impacts and some do not. Weaving through the maze of IRS programs and understanding what program can be a daunting task.
We are here to consult with you on any situation free of charge. We are an integral firm with 29 years in business assisting taxpayers. We speak with 15 to 20 people a day that we refer to IRS programs and charge no fees for our consultations, others need professional services. All our services are billed over the time it takes to do the work not upfront. So, if you have reviewed the options available to you and still find yourself with having concerns or questions. Call us for a free consolation (561) 293-3135. https://www.fasttaxhelp.org
We serve all 50 states and territories of the United States.
