Failing to pay your taxes brings serious consequences because the IRS has significant collection power. They can not only access your savings account but also your home, mode of transport, and even your wages. For this reason, it’s best to speak to tax consultants as soon as possible if you don’t have the means to pay what you owe. They can work with you to get the tax relief help you need.
The best specialists will start by listening to you and figuring out what can be done in your situation. Then, they will negotiate with the IRS and resolve your situation as quickly as possible. That way, you can avoid the negative consequences of having tax debt, which could include losing your assets and even your home. Let’s have a closer look at what tax relief is and why it could benefit you.
How Can Tax Consultants Help You?
Tax debt is a serious issue, and it can affect your life for many years. This is especially true if a levy is placed on your property and the IRS seizes it to pay off the outstanding amount. A tax consultant can prevent this from happening by negotiating with them and finding an appropriate solution. Since there are several options under the IRS forgiveness program, you are certain to find one that fits your individual situation.
To make sure you get the best outcome you can, we will first speak to you and review your situation. Then, we will go through the various possibilities and find the best one. We can contact the IRS for you and negotiate with them until we come to an agreement. At this point, you will receive the tax relief you need and be able to move on with your life.
Sort Through Your Situation
The first step in the resolution process is the consultation, during which we spend some time getting to know you, how much you owe the IRS, and the reason why you have tax debt. We will arrange a meeting to discuss these points and to start coming up with resolution strategies.
This initial consultation also serves for you to get to know us and to make a decision about whether you’d like to use our services. Remember that you will most likely spend several months working with your tax consultant, so it’s important that you trust their judgment and feel comfortable asking them questions.
Figure Out How to Pay Off Your Taxes
Once we understand your situation, we can suggest the most appropriate solution. Tax relief help comes in many forms, and the right one depends on how much debt you have, what penalties are on your account, and whether you have any disposable income at this time. The most comprehensive option is “Currently not collectible” status, which demonstrates to the IRS that you have no money to pay any of your debt at the moment.
An offer in compromise significantly reduces the total amount you have to pay and is appropriate for people who have some income but are not able to settle the entire amount. Unfortunately, it is not very easy to achieve because the IRS believes that taxpayers should pay the full amount whenever possible. For this reason, an installment agreement, which simply spreads out your payments over a longer timeframe, could be the best option.
Negotiate with the IRS to Get Tax Relief Help
When selecting a strategy, we will always listen to you and take your opinion into consideration. However, we will also be honest about what is possible and what isn’t. In many cases, the IRS won’t accept an offer in compromise because they don’t agree that you’re unable to pay the full amount. For this reason, we often make an installment agreement.
If you were unaware of your tax situation and it was your spouse’s problem, our tax consultants might be able to claim innocent spouse relief. Because we at Geaux Tax Resolution have so much experience with the IRS, we are able to fill out the necessary documentation and obtain a result faster than individuals could. We take all the stress out of negotiating, and we’ll make sure you haven’t missed any opportunities for relief.
Resolve Your Situation
The time it takes for your situation to be resolved depends on the severity of the problem. In some cases, we can get a favorable outcome within a few weeks, but in others, it could take months. No matter how long we have to fight for your rights, we will be here to work through every step with you. At the end of the process, you will have a solid plan in place and be able to pay off your debt at your own pace.
How Can You Prevent Tax Problems?
As part of the tax resolution process, we will speak to you about what caused your problem and how you can prevent this from happening in the future. For instance, if you failed to file your taxes on time and therefore had a much higher bill than usual, you can set yourself reminders throughout the year or automate your taxes. Similarly, a self-employed person should put aside money for taxes every month, so they have enough at the end of the year.
Your consultant understands the problems taxpayers face and can help you figure out long-term solutions. That way, you won’t need to come back to get help again because you will have enough money on hand to cover your bill every year.
When selecting your tax consultant, you should do your research before making a final decision. Not every professional is equally qualified, and the first thing you need to look for is the level of experience they have. If a firm has been in operation for many years, it’s likely that they provide a very good service. You can read the testimonials to confirm this.
Here at Geaux, we have the additional advantage that the business owner, Bryon Garrety, used to be an IRS employee. He understands the way the system works better than most people and also has connections to the current employees. This will make your resolution process much smoother and easier. The best way to find out if we are the right fit for you is to ask for an initial consultation and meet our team.
Do You Need Help?
Millions of people in America struggle to pay their taxes, especially because small businesses have suffered great losses during the Coronavirus pandemic. If your income has declined or you have lost your job, you might no longer be able to come up with the money as easily as before. In such a situation, there is a lot at stake, and you should always contact tax consultants to help you work through the problem and find the most appropriate solution.
A highly qualified and experienced specialist will invite you to a consultation and discuss your situation. They will then choose the best forgiveness option to fit your needs and reduce or spread out your payments. As a result, you are no longer at risk of losing your most important assets to the IRS. Contact us today at Geaux Tax Resolution to book an appointment with one of our specialists. We will be happy to offer you the tax relief help you need.