What is Tax Resolution? Part 1 of 4

What is Tax Resolution?

Every April, and sometimes in September, millions of individuals across the country file their tax return; millions of individuals end up owing the IRS or the State a sum of money for unpaid taxes; and millions of individuals do not resolve their outstanding balance, causing their tax deficit to become delinquent.

The reality is that many taxpayers will experience some sort of issue with the IRS at one point or another. Whether it be an error on the taxpayer’s part, such as a mathematical error in your filing, failing to respond to a notice of an outstanding balance, or being unable to pay due to a major life event, or the errors that the IRS can make, such as transcript errors, falsely denying deductions, or putting incorrect information on your account. Tax problems are a fairly common affair

Depending on your situation, a simple call to the IRS may be all that is needed to resolve your tax matter; however, serious and complex problems often require a personalized approach to achieve resolution, and could take many hours to prepare correctly.

Simply put, tax resolution is the process of resolving one’s unpaid tax debt. While the end goal is always the same, there are various approaches and methods to resolving one’s tax debt. The manner in which you choose to resolve your tax debt will depend on your individual circumstances. Ultimately, you will want to select the course of action that is most advantageous to you as a taxpayer, with the goal of keeping as much money in your pocket as possible.

In this multi part post, we will give you an in-depth look at some of the many options you may have for tax resolution.  This is a no-nonsense guide to your some of your tax resolution options with the IRS.  You will see that laws are cited to, as every action the IRS takes has a corresponding law.  Further, there is a human element to each and every action, which is why it is important to have an experienced attorney address your tax matter.  Visit our Homepage or our Contact page to schedule a free consult today.

Part 2 will discuss the laws and options regarding the Offer in Compromise program

Part 3 will discuss the laws and options regarding Installment Agreements

Part 4 will discuss the laws and options regarding Penalty Abatement