Millions of Americans every year find themselves in the dire position of owing back taxes to the IRS. Just the work IRS itself puts fear into most people. The Internal Revenue Service doesn’t do themselves any favors by sometimes being harsh with tax payers. But keep in mind that they’re just doing their job. The collections division is there to collect money, simple as that. So what is a delinquent tax payer to do? There are different options available, the most attractive being an Offer In Compromise. Atlas Tax Solutions assists those in need when possible by negotiating with the IRS to make this option possible.
Remember that the you will not qualify for an Offer In Compromise if you are able to pay your taxes in a lump sum. In other words, if you owe $14,000, and you have $20,000 sitting in your bank account, well guess what? You’re going to have to pay the full amount! Put simply, if Atlas Tax Solutions is able to get you approved for an Offer In Compromise, the IRS will allow you to settle your tax debt for a lesser amount owed. You may have heard the saying, “Settle for pennies on the dollar.” Well, that’s not exactly accurate, but it is true that an Offer In Compromise will make it possible for you to end your tax problems for a fraction of what you owe.
It used to be a lot easier but there have been some changes that have made qualifying all the more confusing in the last few years. If Atlas Tax Solutions determines that you may qualify for this solution, the IRS does require filing fees. However, if you qualify for the low income exemption waiver, then you would not have to pay for the filing fees. Of course, this entire process is exactly that…A process! There is an immense amount of paperwork that must be filled out, and if you haven’t filed your taxes for past years, well those have to be prepared and filed before you may qualify. It then becomes a paperwork drill and a negotiation drill. The IRS will investigate the settlement offer and look for different reasons to disqualify you. Sometimes they will suggest that you up your offer or arrange for a different type of settlement, perhaps a combination of plans. This can be an exhaustive effort on the part of the tax paper, which is why most people choose to let the experts at Atlas Tax Solutions deal with all the paperwork, hassles and going back and forth.
Depending on your particular situation, and Offer In Compromise may be a good thing for you. Like most things in life, it also depends on your urgency level. Obviously, if your wages are being garnished or if a tax lien is put on your home, you’ll be more pressed to resolve the situation. There are many solutions at your disposal, but the first step is to take action. If you’re at a point now where you feel it’s time to take control and would like to find out if you qualify for assistance, Atlas Tax Solutions will determine your best route and take your headaches away.
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Article Submission by Jayden Adams – Studio98.
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