Right now, everything looks bleak. The amount of money you owe the IRS may be more than you can afford to pay while still paying for basic necessities like food and shelter. The IRS demand for back taxes, interest, and penalties may even be more than you earn in a given month.
It may seem like there is no way out of this tax mess, but there may be alternative solutions to paying your tax bill in full right now. However, before you can take advantage of those alternative ways of settling your tax liability with the IRS, you must know more about potential solutions and why you should pursue them.
3 Reasons to Settle Your Tax Debt With the IRS
Before you find out how to settle with the IRS, you should consider the possible benefits of such a settlement. Those benefits could include:
- Taking control of the process and not leaving it to the IRS to resolve. By suggesting an alternative solution—or settlement—with the IRS, you will have more say in how and when you pay your debt than you would have if you simply accept the IRS bill.
- Having no more worries about how this will end. Instead, you will have the certainty of knowing how and when you will pay the IRS so that you can plan accordingly.
- Establishing a clean slate. You can face the future without the worry of an IRS dispute hanging over you.
There may also be additional benefits to settling with the IRS if you are facing potential criminal charges.
Our Tax Attorneys Can Help You Find Out How You Should Settle With the IRS
Whether you are a Tulsa couple, an Oklahoma City business owner, or an individual Norman taxpayer, you face unique circumstances that differ from the tax problems faced by others in your community. Therefore, we cannot tell you exactly how you should settle your tax debt with the IRS.
Instead, we can help you learn more about the process for settling your IRS tax debt. First, we suggest that you read our FREE book, The Ultimate Survival Guide for IRS Problems. After that, please contact our local tax attorneys for a free initial consultation so that we can discuss how you may resolve your unique tax problems with the IRS.