Are You Living in Fear of Your Tax Penalties Piling Up?

Tax penalties

Tax penalties can be pretty hefty if you owe the IRS $10,000 to $25,000. You might want to hire a tax professional if you need help with getting a tax penalty abatement. One of the biggest stresses you can face as a taxpayer is failure to pay penalties. Some individuals are literally living in fear because they haven’t paid their back taxes and they know their tax penalties are piling up. If you need tax debt help you are likely losing sleep over it too. You don’t have to loose sleep over the tax penalties that you may be facing. Getting help with back taxes can take a load of worry off your mind. You can get help to stop IRS wage garnishment and tax lien help from a tax resolution service today.

In 2006, the IRS made changes to their Offer in Compromise program. They now require 20 percent up front and a non refundable payment of $150. A tax resolution firm can make a cash Offer in Compromise for you if you want one submitted for you. The IRS will settle for less than the actual amount you owe when the proper paperwork is received for an Offer in Compromise. So in other words.

Let’s say you owe the IRS $10,000 in back taxes and you want to settle with them by offering to pay $5,000. The Offer in Compromise can be sent stating the requested terms. Along with it you would send a $1,000 payment, plus the one time non refundable fee of $150. If the IRS accepts it, you can then stop worrying about what the IRS can do to you. This is just one example of tax relief help that one can receive when they are facing expensive tax penalties. Your returns still need to be filed though as this will prevent further penalties for failure to file, etc. Find out more about tax penalties and what to do about them by talking to a tax resolution firm today.

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