The IRS is the last entity that you want to owe money to. They can come after your cash and other assets for as long as it takes to pay down a past tax balance. However, working with a tax relief company can help you pay your debt for less than what you may owe and put an end to a stressful situation. What can a tax relief service do for someone struggling to pay the government what he or she owes?
The IRS Would Rather Resolve the Case Amicably
What most taxpayers don’t know is that the IRS wants to resolve your case as quickly as possible even if it means taking less money. Having a professional working on your behalf will make it more likely that the government takes less to settle your case. Typically, interest, penalties and other fines can be removed, which may reduce your balance to the amount that you originally owed. In some cases, the government will take less than that if a financial hardship exists.
Get Your Income Tax Lien Removed
If you have an overdue income tax bill, the IRS may place a lien against personal assets such as your bank account or your home to get what it is owed. When you settle your case either by paying what you owe or agreeing to make installment payments, the liens may be removed either immediately or within weeks of the settlement. This means that you are now free to receive your state and federal tax refunds as well as sell your home if you need to as a method to raise funds to pay off your tax debt.
The Government Can Garnish Wages If Necessary
Another benefit to settling your past due tax debt is the ability to put an end to the government’s ability to garnish wages in order to collect a past due tax balance. This means that you will get your full paycheck each pay period that can be used to pay bills, contribute to your savings or take a vacation to unwind from dealing with the government. While there are generally limits to what creditors can garnish per pay period, there is no limit as a practical matter to what the government can take as a percentage of your income.
Tax Relief Services Face the Government For You
When you have a tax debt relief professional working on your behalf, you don’t have to fear the IRS or the process of resolving a tax debt. Instead, you can rest easy knowing that someone else is handling your case for you. While the government may ask to speak directly to you, there is no obligation to do so as long as you have a representative willing to speak with them on your behalf.
In addition to avoiding a disruption to your schedule, you won’t tell the government more than it needs to know during mail correspondence or personal interviews if someone else speaks on your behalf. Remember, during an audit or any other tax proceeding with the government, you are only required to provide information requested from you or a third-party representing you. Your debt relief professional knows this and will not talk about anything other than the situation at hand.
If you are having trouble with the IRS don’t face them alone. Instead, turn to someone who has experience obtaining settlements and creating payment plans that fit your budget. This can help reduce what you owe while putting an end to liens and wage garnishment that can hinder your ability to pay bills or otherwise live a normal life.