Looking for IRS Relief

When facing problems with the Internal Revenue Service (IRS) many Americans feel alone, without anyone in their corner, and a tremendous amount of stress with this potential crisis. While most of this stress is due to the unknown and the horror stories that we have all heard through the years, there are some simple steps to take that can relieve at least some of the stress you may feel.

The one thing that you cannot do is avoid your delinquent tax situation. Your IRS obligation will not “go away.” Eventually you will have to pay your tax liability, but there are some things that you may be able to do to relieve the stress you may be dealing with.

#1 – If the April deadline is not quite here yet and there is no way you will be prepared for it, file for an extension with the IRS. The extension will put your filing date back until October 15th in most cases. However, according to the IRS at www.irs.gov/newroom/article/0,,id=108273,00.html,”…the extension does not give you more time to pay any taxes due. If you have not paid at least 90 percent of the total tax due by the April deadline you may also be subjected to an Estimate Tax Penalty.”

What this means is that if you believe you are going to have a tax liability, you are going to have to pay in taxes, you need to go ahead and pay 90 percent of the taxes by the April 15th deadline. If you are unable to do this, do not panic, there are still other things that you may do. You may indeed have to pay more, but we are not talking jail time just yet.

If you would like to file an extension, you should go to the IRS website (irs.gov), or get a form from your tax preparer. This form is irs Form 4868.

#2 – If you cannot pay your fax liability, do not panic file your tax return and pay as much as possible to avoid penalties and interest. You may also want to contact the IRS to discuss your payment options. You may contact the IRS at 1-800-829-1040. The IRS may also be able to provide relief in the form of a short-term extension to pay. You may also be able to set up an installment agreement or an offer in compromise.

An offer in compromise (OIC) is an agreement between a taxpayer and the IRS that can settle the tax liability for less than the full amount owed. There are different types of OIC’s based on three different grounds:

1. Doubt as to Collectibility – Doubt exists that the taxpayer could ever pay the full amount of tax liability owed within the ramainder of the stautory period for collection.

2. Doubt as to Liability – A legitimate doubt exists that the assessed tax liability is correct. Possible reasons to submit a doubt as to the liability offer include: (1)the examiner made a mistake interpreting the law, (2)the examiner failed to consider the taxpayer’s evidence or (3) the taxpayer has new evidence.

3. Deferred peiodic Payment Offer – Payable in non-refundable installments; the offer amount must be paid over the remaining stutory period for collecting the tax. The first payment and the $150 application fee are due upon filing the Form 656. Regular payments must be made during the investigation.

The offer amount must include the realizable value of assets plus the total amount the IRS could collect through monthly payments during the remaining life of the statutory period for collection.

#3 – If you are too far along to file for an extension or if you feel like you are not knowlegable enough to file for an OIC on your own, then there are companies and professionals that can assist you. These IRS relief companies generally are IRS tax specialists and tax attorneys with a large amount of experience dealing with tax liability issues.

It’s never a good idea to get behind on your taxes, but you must also realize that just about every case there is some type of irs relief that you can pursue. The stress and suffering that many feel can be, in many cases, aleviated almost immediately. The information provided on this website is free and constantly updated.

Remember, there is help out there and armed with the right knowledge you can get through the day without the constant worry your tax burden coming back to you.

For additional information go to www.irs.gov

Although I write mainly about Internet marketing and cash gifting, many people constantly ask me about irs help or some type of tax counseling. While I explain over and over that I am not a CPA or Tax attorney, I can look up information on the Internet and try and put something together. I hope this information will help you, but I cannot stress enough that seeking out professional help is what I recommend the most. Although the IRS does have some information designed to help, remember that this is the organization collecting taxes and it is not their job to help you out…just doesn’t work that way.

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