Showing posts with label Tax Debt Relief. Show all posts

Jun 25, 2020


Tax Debt Relief

   Its that time of the year again! Time to file your IRS Income taxes!                                                                                                                                                                                                                        

Tax debt relief is a means of finding a suitable agreement for repaying your debt to the IRS. Many times the debt may be collected through wage garnishments or tax liens which can be very destructive to your life. Negotiating a new tax debt relief plan can help relieve that stress because it is personalized to the individual.


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1. File your taxes 

File your taxes even if you are not able to pay. Do not ignore filing. It can only make things worse. You can file for an extension, if you need more time to file. But you should still pay as much as of your estimated tax as possible by the annual April deadline to avoid penalties and interest.

2. Make a payment plan, delay payment or settle

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                                                                                                                                                                     If you can’t pay your taxes in full within 120 days, the IRS also offers options to help manage your balance. They can help you set up a payment plan that has penalties and interest. 

3.Find a tax debt relief company for assistance preferably a CPA or Financial Planner with IRS debt experience.

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Check their credentials thoroughly before signing up with them. They should be able to handle your tax debt in the quickest and best way possible.

In conclusion. Filing and owing taxes is not something that makes us happy, but bit is something we must all participate in to keep our country growing in the right direction. So please do not forget to do it. Place reminders on your devices so you will not forget. In the meantime enjoy your life without too much stress. Let the great Tax Debt Relief companies assist, if you are not able to do it alone. The deadline for 2020 tax returns is Wednesday, July 15th, 2020.