Owe Back Taxes? 3 Real Reasons You Need A Tax Resolution Professional NOW

Dec 06 2018

Owing money to the IRS or State can be daunting, intimidating and throw your life out of whack. You might be tempted to just hide your head under a pillow, but ignoring your back taxes will only make the situation worse. Penalties and interest alone can bury you deeper so it’s important to take immediate action.

But where do you start? How do you go about tackling the behemoth that is the IRS and start getting your life back? A qualified Tax Resolution firm can help. Here are 3 real reasons to at least have a conversation with our tax firm. If you’re ready, you can contact us here.


#1. Penalties and Interest - Don’t Let Them Pile On

The IRS has over 148 different types of penalties they can hit you with.  And the worst part is that the IRS can also charge interest on the interest (called “compounding”) and on the original penalties. Penalties can be such a high percentage of the total amount owed to the IRS, it usually makes sense to consider requesting the IRS to reduce all penalties to ZERO.  IRS penalties can often be reduced to ZERO if you have REASONABLE CAUSE.  What makes up REASONABLE CAUSE you ask?  Well, in our experience in negotiations with the IRS, anything may qualify as long as it’s reasonable.  We’ve had the IRS abate penalties for medical reasons, bad accountants, and ignorance of the tax laws, ex-spouses, helping to provide care for a loved one, military call-ups, fires, floods, alcoholism, drug abuse, death and even for relying on IRS advice.



#2. You don’t have to talk to the IRS.

As a matter of fact, going or talking to the IRS yourself could be the worst thing you can do. The taxpayer Bill of Rights allows you to be represented by a qualified practitioner who can answer questions for you and provide documentation and a resolution to the IRS. Many taxpayers attempt to handle things on their own or hire the person who prepared the tax return to handle it for them.  This does not usually work out because most tax return preparers do not handle IRS tax problems on a daily basis.  The IRS can easily intimidate them, which usually results in an unfavorable outcome.


#3 You have options to get out of tax trouble and stay out of tax trouble

The IRS has multiple options for troubled taxpayers, including cutting deals that can drastically reduce your total amount owed, often referred to as the Office in Compromise Program. To see if that’s an option for you, contact us so that our tax resolution firm can fully assess your individual financial situation and make a recommendation for resolution.  Remember, doing nothing not only doesn’t fix the problem but the longer you do nothing the problem only gets worse.  We’ll contact the IRS on your behalf, get you compliant by helping you file all your past tax returns if needed, then work on an individualized tax debt resolution plan which we present to the IRS that will permanently solve your tax problem and keep you out of trouble.
Have questions? Contact us today to schedule a consultation.

©2018 SDC, LLC    www.sdcglobalcpa.com

This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult tax, legal and accounting advisors before engaging in any transaction.


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