IRS Debt Settlements

IRS Debt Settlements

WHY YOU NEED HELP?

The IRS may have contacted you for one of the following reasons, the professionals at TaxPro Of Tampa can help you.

  • Random selection
  • Incorrect computation
  • Failing to report additional sources of income
  • Inconsistences on the return
  • Non Filing Tax Returns

The IRS may propose a:

Correspondence Audit – Only required to provide documentation regarding the parts of your tax return that are being examined.
Field Audit – IRS agents conduct these audits at your place of business.
Office Audit – agents conduct these audits at your place of business.
Taxpayer Compliance Measurement Program (TCMP) Audits – A comprehensive audit where every part of your tax return must be backed by documentation including birth and / or marriage certificates.

Threatening to seize by ways of levies, liens and garnishments:

  • Bank Accounts
  • Homes or other real estate
  • Cars and other vehicles including boats and yachts
  • Investments
  • Any monies with your name on it
HOW CAN WE HELP?
The IRS offers several programs
Offer in Compromise (OIC)

To qualify you must have an inability to repay the debt within the time the IRS has to collect on the debt.

Penalty Abatement

The IRS may assess a variety of penalties on your tax account including late filing and late payment fees. Sometimes the penalties dwarf the actual tax debt.

Installment Agreement

This agreement allows you to pay your full debt in equal, yet smaller and more manageable amounts.

Partial Pay Installment Agreement (PPIA)

A payment agreement whereby the total number of payments made to the IRS is less than the total amount of tax due, when full payment cannot be completed prior to the expiration of the statute of limitations.

Wage Garnishment Release

Your liability is satisfied and the garnishment is lifted.

Bank Levy Release

You paid your tax debt or the time limit expired, releasing the levy.

Innocent Spouse Relief

You filed a joint return, the tax due is understated, you didn’t know, so it is unfair to hold you liable.

Currently Non-Collectible

Assigned by the IRS when someone cannot pay due to a temporary hardship.

Statute of Limitations

The time limitation (generally 10 years) on which the IRS can collect taxes and levies. The start time varies for each action taken.

Tax Lien Discharge
You relinquish your rights and allow any property with an IRS lien to be sold free and clear of the tax lien.

Tax Lien Subordination

Allows a “junior” creditor to move ahead of the IRS for claim on the property.

Tax Lien Withdrawal

Your tax liability is satisfied and the lien is released.

Collection Appeal

The Office of Appeals is separate from and independent of the IRS Collection Office. Check here for your collection appeal rights.

Administrative Appeal

You may file an administrative appeal with the IRS under four circumstances. For complete information, check under IRS 8.7.14.4.

941 Payroll Tax Issues

Employers are required to pay Federal, Social Security & Medicare, State & Unemployment Taxes

Non-Filers – Need Prior/Back Year Taxes Completed
  • Avoid large penalties, interest and/or forfeiture of your tax refund, criminal charges, possible jail time and revoking of your US Passport.

With any financial product that you buy, it is important that you know you are getting the best advice from a reputable company as often you will have to provide sensitive information online or over the internet.With any financial product that you buy, it is important that you know you are getting the best advice from a reputable company.

With any financial product that you buy, it is important that you know you are getting the best advice from a reputable company as often you will have to provide sensitive information online or over the internet.

With any financial product that you buy, it is important that you know you are getting the best advice from a reputable company as often you will have to provide sensitive information online or over the internet.

With any financial product that you buy, it is important that you know you are getting the best advice from a reputable company as often you will have to provide sensitive information online or over the internet.With any financial product that you buy, it is important that you know you are getting the best advice from a reputable company.

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