Expert Tax Negotiation Services
If you’re wondering whether you can negotiate tax liabilities with the IRS, the short answer is yes. The IRS will let you settle your tax liabilities in a variety of ways. This is good news for those struggling with their ability to pay their tax liability. The important thing to remember is that you have options when it comes to negotiating IRS liabilities.
Some tax liabilities negotiations are more common than others. For example, liabilities relief opportunities are explored by many taxpayers. Another example is or a payment plan that you prepare with a trusted tax negotiation firm.
And if you are wondering where to start regarding a trusted tax negotiation firm, your answer is right here. Innovative Tax Relief delivers fair solutions for you. And we understand that everyone’s financial situation is different. Therefore, we tailor a solution to your needs and goals.
Integrity and Trust
Our IRS tax negotiators operate on the highest level of integrity. We have helped many clients successfully negotiate their tax liabilities. Our team coordinates with the IRS on your behalf to reduce or, in some cases, eliminate your tax liabilities. In some instances, our clients trust us to speak on their behalf when communicating with the IRS.
Benefits like this are what you are going to find when you turn to the pros at Innovative Tax Relief. We know the ins and outs of IRS negotiations and are happy to put our skills to work on your behalf.
Whatever your tax situation happens to be, let us settle it for you.
Let our experience and knowledge work to your advantage. Take a look at the government programs that our team uses to successfully reduce or eliminate tax liabilities.
Tax Liabilities Installment Plan
If you think you won’t be able to pay off your tax liabilities on time, don’t panic. Remember, you still have options and the ability to negotiate with the IRS. And your best option might be to negotiate a tax liabilities installment plan with the IRS.
If this is how you want to move forward with the tax liabilities, there are some steps to be aware of. For instance, the IRS might require you to fill out forms. It is also common that they request a phone discussion about your financial situation. They might use this information to collect more money, especially if you have assets or a stable income.
It’s always better to work with tax liabilities specialists who can negotiate with the IRS on your behalf. After all, you don’t want to say the wrong thing to the IRS about your payment options. Our team sets up an affordable installment plan that eases your financial burden. And since we understand your financial situation, your monthly payments will be appropriately established.
Partial Payment Installment Plan
Negotiating with the IRS for a Partial Payment Installation Plan (PPIA) could be tricky. But with the experience of our team on your side, it’s doable. Let Innovative Tax Relief help you negotiate your tax liabilities with a PPIA.
This approach requires you to submit financial records. Additionally, you will required to submit a hardship letter explaining your current situation. The letter is intended to demonstrate why the IRS should grant a reduced payment. Again, this is an instance where you want to make your case with the right insights.
When the request is accepted, you can make reduced installment payments until you pay off the tax liabilities. Count on us to do the paperwork.
Our IRS tax negotiators help you prepare, organize, and submit your financial paperwork. We can also help you craft and submit your hardship letter. With our assistance, we can together to maximize your chances of getting a good result.
Granting a reduced payment is an excellent step in minimizing your tax liabilities. While taxpayers naturally hope to wipe the slate clean, this is not how tax burdens work. Think of it this way: Installment plans put you back in control of your finances. This is because they are established with your financial situation in mind.
Offer in Compromise
Offer in Compromise (OIC) is a tax negotiation strategy that commonly shows up on TV and radio ads. This tax negotiation strategy is also known as the “pennies on the dollar program.” There are three possible scenarios wherein the IRS accepts your request for an OIC arrangement:
Doubt as to Liability
Every taxpayer is eligible to negotiate their tax liabilities if the total amount of tax assessed is incorrect.
Doubt as to Collectibility
Your situation falls under this category if you can demonstrate that you cannot pay the full tax obligation. This can either be because of financial hardships or other compelling reasons.
Effective Tax Administration
You may use this tax relief category if you can make a firm claim that tax collection would create an injustice. This is typically used by elderly and disabled taxpayers.
You need to file the following forms to request an Offer In Compromise from the IRS:
- Form 656: Offer in Compromise
- Form 656-A: Income Certification for Offer in Compromise Application Fee and Payment
It is no secret that this is one of the most challenging IRS programs to get accepted for. However, it is also one of the most beneficial. And, we can help you.
Our tax negotiators have helped many clients gain a favorable outcome for their OIC requests. We can help you qualify for it, too.
Currently Non-Collectible Status
Can prove that you can’t make payments to the IRS because of financial hardship? If so, you may request to have your account on hold until you get back on your feet. There is no question that the IRS wants to collect taxes owed. But this IRS offering allows you time to plan accordingly and get your finances in order.
This category requires you to submit detailed and updated financial information. If your request is granted by the IRS, you will still need to pay your taxes. But there won’t be collection attempts while your case remains in Non-Collectible status.
There are also ongoing considerations to be aware of. For instance, the IRS might re-evaluate your financial circumstances down the road. In fact, they could lift the Non-Collectible status if you start being non-compliant or if you’re incurring greater tax liabilities.
But this shouldn’t be cause for alarm. You can count on us to help you plan your tax payments to avoid this from happening.
Tax Penalty and Fee Abatement
Can pay your tax obligation in full or in installments, but you need a break from the penalties and fees? If these impositions by the IRS are burdensome, consider the Penalty and Fee Abatement program. Many taxpayers are unaware that this is even an option.
You may write a letter of request to remove eligible penalties and fees. Of course, you must have a valid reason for the abatement. Our tax negotiators can help you fill out IRS Form 843 for it.
This program could provide some relief for you. Learn more about it and whether it’s the right choice for your financial situation. Our tenured tax negotiators can help you better understand this option, and how you might benefit from it.
Statute of Limitations
In some cases, you can wait out your federal tax liabilities and have it erased from your record. The typical statute of limitations is 10 years. Calculating your liabilities expiration date is challenging, though. There’s also a tolling period if you file for bankruptcy or apply for other IRS settlement programs.
Our tax negotiators can help you get the expiration dates right. We also work with you in building and implementing a game plan of what to do in the meantime.
Get IRS Tax Resolution Services Today
Being unable to pay your taxes can be burdensome for a variety of reasons. And it is no secret that once you get behind the 8 ball, righting your course can be difficult. But that is why we are here. And just like our other clients have experienced success with tax negotiation, you can too.
Reach out to the professionals at Innovative Tax Relief today, and get back in control of your finances.
