If you have a tax debt, you might be eligible for a tax settlement. Typically, a tax settlement involves making an agreement with the IRS to pay back less than the full amount of the tax debt in a certain amount of time. Once this payment is made, the tax debt is resolved, and the IRS will no longer seek to collect payment. While not everyone is eligible for a tax settlement, our team at Solvent Tax Relief can work with the IRS to determine if this option is right for you. Our goal is to save you money while resolving your tax debt quickly.
Learn more about tax settlement services and other tax relief options by contacting Solvent Tax Relief at 800.985.9426 today.
What Is A Tax Settlement?
A tax settlement is an agreement between the IRS and a taxpayer. If a taxpayer owes a debt to the IRS, such as unpaid back taxes, they can sometimes pay less than the original amount if they meet certain criteria.
Why should you look into a tax settlement? One of the reasons our team will work to achieve a tax settlement for you is because through this arrangement, you are likely to save money. If the IRS offers you a tax settlement, you will pay the agreed-upon amount, and then your tax debt is considered to be paid in full. You will not be asked to pay any other penalties or late fees associated with this debt.
Additionally, a tax settlement is a quick way to resolve tax debt. Some other tax relief strategies involve monthly installments or even waiting out the statute of limitations. While these can be good options in some circumstances, for many, having unresolved tax debt can feel like a burden.
You can also avoid wage garnishments or having a lien placed on your home through a tax settlement. The IRS uses these tactics to get taxpayers to pay off their debts, but they can leave you in financial hardship. A tax professional will be able to help you get these lifted and find a way to pay off your debt that will not hurt your family. If you need help dealing with the IRS, contact Solvent Tax Relief.
Are You Eligible for a Tax Settlement?
Not every taxpayer is eligible for a settlement. However, if you fall under certain circumstances or criteria, you might be able to reach an agreement with the IRS.
While a tax professional will be able to tell you whether or not you are eligible for a tax settlement, the following criteria can help you determine if this option might be right for you:
- You are currently going through financial hardship
- Your income and assets will not cover the balance you owe
- There is sufficient doubt that the amount owed is correct
However, if you are currently going through bankruptcy proceedings or have not filed all past tax returns, contact the professionals at Solvent Tax Relief to discuss further options to resolve your situation.
Our Tax Settlement Services
How can Solvent Tax Relief help you? First, we’ll investigate your tax debt situation and review all the necessary information. We’ll then file the appropriate paperwork with the IRS for review. While taxpayers can file these forms themselves, having a tax professional go through this process with you can be beneficial. We’ll make sure that you submit the right information in the right time frame. Whether you are eligible for an offer in compromise or other agreement with the IRS, we’ll seek the best outcome for your situation. If you need tax consultation services or tax preparation services, contact us today.
Contact Solvent Tax Relief Today
If your tax debt is overwhelming, reach out to our team of tax professionals. At Solvent Tax Relief, we’ll explore every possible option to settle your tax debt. Contact us at 800.985.9426 to learn more about our tax settlement services and to begin the process of resolving your tax issues today.