Tax debt relief is a relaxing sigh after waking up from a long nightmare. Actually, taxes can feel nightmarish more often than not. There is so much stress behind filing them, filling out paperwork, searching for deductibles. If you have ever received any federal tax penalties or owed back taxes to IRS entities, then you know just how horrid taxes can become.
Thankfully, tax debt relief options exist for all tax payers. There are attorneys who are on your side of the battle against tax debt. These are experts of the tax laws, who will find any holes in how the IRS conducted themselves (which could lead to your back tax abatement), or whatever payment plan will be most convenient and affordable for you.
A tax debt relief attorney told me once, when I was going through the mess of owing back taxes, that the IRS will not start garnishing wages from you without giving you proper notice and an opportunity to make other payment arrangements.
This was such a relief to hear, considering, at the time, all I was hearing was bad news about further penalties and potential property liens. What is a federal tax lien? It is when the government has the court order to repossess your property. Tax debt relief services exist to protect you from this act of questionable justice.
President George W. Bush, in 2001, signed a series of tax cuts into law. The largest one was known as the Economic Growth and Tax Relief Reconciliation Act (I was not aware he could use such big words). Unfortunately for most, many of the tax relief efforts Bush pushed for favored the wealthy.
The sad truth is, we are not all upper class individuals. Tax debt relief is designed (in most cases) for those who are not of the grandest salaries. One important thing to keep in mind with taxes is that even if you do not have enough money to pay the taxes, they should still be filed.
If you do not file and do not have the funds to pay taxes, you will be charged back tax fees, as well as failure to file fees. The government will do anything to get your money. “Failure to pay” fines are often the highest in any back tax case, but there is no sense in giving the IRS room to add in other fees on top of everything.
Sometimes tax debt relief comes in the form of exemption. Taxpayers who wish to file an offer due to a theory as to Doubt As To Liability (DATL) will need to be first time tax liability disputers. DATLs can be based on ethnicity, or special circumstances of employment.
Tax debt relief is waiting for you. Make a call to an appropriate attorney, it could be the call that wakes you up from this financial nightmare for good.