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Top 5 Best IRS Tax Relief Programs You Need to Know About for 2021

If you find out you owe the Internal Revenue Service (IRS) when preparing your tax return, there is no need to panic. While no one wants to pay more taxes, you have options for paying the amount you owe. The IRS relief options are better than the alternative of avoiding your tax bill altogether. The IRS offers a handful of relief options for delinquent taxpayers: payment plans, offers in compromise, filing as not current collectible.

Finding the Best Tax Debt Relief Solution

Finding the Best Tax Debt Relief Solution

If you owe back taxes to the IRS, you need to act quickly to avoid financial burdens, like receiving a Notice of Federal Tax Lien. Unfortunately, like many debt solutions, you don’t usually know about tax debt relief options until you need them. So, how do you find the best tax relief service for your needs? In this article we look at the five basic ways to get relief from tax debt caused by back taxes owed on a tax return.

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Wage Garnishment: How It Works and What You Can Do

Wage garnishment happens when a court orders that your employer withhold a specific portion of your paycheck and send it directly to the creditor or person to whom you owe money, until your debt is resolved. Child support, consumer debts and student loans are common sources of wage garnishment. Your earnings will be garnished until the debt is paid off or otherwise resolved. You have legal rights, including caps on how much can be taken at once. And you can take steps to lessen the effect.

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How Long Can the IRS Audit?

In most cases, the statute of limitations grants the IRS a period of up to three years in which to initiate an audit of a taxpayer. Though the three-year statute of limitations applies in many cases, there are also a few exceptions which may affect certain taxpayers. In other words, there are some tax situations where the statute of limitations is extended, granting the IRS additional time to audit taxpayers who meet certain criteria.

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Why Hire a Tax Professional?

Tax preparation can be a tedious endeavor full of legal jargon tough to dissect. While some taxes may be easy to file, it may be beneficial to enlist in the services of a tax professional, such as a tax attorney, to help sort out the specifics…