Mistakes People Make When Negotiating with the IRS

What are some common pitfalls when negotiating tax debt relief?

3 Common Mistakes People make Negotiating with the IRS

Few things threaten your mental well-being like the harassment and anxiety of persistent tax problems. Under this stress, it is common not to put your best foot forward in resolving the problem. People make 3 common mistakes when dealing with the IRS.

  1. They procrastinate.
  2. They attempt to represent themselves.
  3. They hire sub-par representation and now are in MORE need of help than ever before.

Waiting to deal with your IRS tax debt only leads to more penalties and fines, makes you look worse when you finally do try to resolve your tax debt, and could lead to bigger problems than just owing money.

If you attempt to represent yourself with the IRS, you could make your situation worse by saying something you shouldn’t have, giving them documents you didn’t have to, or not giving them documents you did and them finding out later.

Hiring sub-par help could also land you in hot water. Not only will you have to pay them, but they might not do anything or maybe even make things w orse. Don’t get tax resolution services from a cartoon character on TV when you could have hired a Tax Attorney.

A tax attorney could help with:

  1. Offer in Compromise cases
  2. Penalty Abatement Petitions
  3. Full Audit Representations
  4. Business Strategy Sessions.
  5. Settle taxes for Pennies on the Dollar owed
  6. Stop IRS wage and bank levies (garnishments)
  7. Have property liens lifted
  8. get affordable installment agreements
  9. Have penalties and interest forgiven

Offer in Compromise: Settle your taxes for Pennies on the Dollar owed Professional law offices can help get you a favorable settlement with an experienced IRS tax attorney. The IRS’ Offer in Compromise program allows taxpayers to settle their tax debt.

What is an IRS offer in compromise?

It settles your tax liability for less than the full amount owed, providing you can prove you don’t have the ability to pay. Depending on how much you can afford, you really can pay “Pennies on the Dollar Owed” in taxes.

If it is done correctly – this option could save you an enormous amount of money, and is the best strategy for most taxpayers. You should take extreme caution. You should hire a professional with knowledge of the IRS’ procedures. If the Offer is not submitted correctly it will be rejected, or you may be required to pay more than is necessary.

An Offer in Compromise may save you a LARGE amount of money.

Do you know that the IRS only has a limited time to collect your back taxes?

Let a Professional Tax Attorney determine when the IRS’ time limit to collect taxes runs out.

What if I failed to file my tax return?

Many people fail to file Individual Income Tax Returns for a variety of reasons. Some reasons are innocent, although the most common is the fact that people can’t afford to pay the taxes.

When this happens it becomes difficult to get back into the system. “I filed for 1998. I couldn’t pay for 2000, so I did not file. Then I was afraid to file for 2001. I haven’t filed since then. What can I do now?”

If you do not file Income Tax Returns you commit a criminal offense. However, filing back returns before being caught is a good way to avoid being criminally prosecuted. That is the first key: filing BEFORE they catch you.