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Frequently Asked Questions
Get Answers to Your Tax Resolution FAQs
Tax resolution involves strategies and processes used to address and resolve tax issues with the IRS. This can include negotiating settlements, setting up payment plans, or disputing tax liabilities to find a solution that alleviates your financial burden and resolves outstanding tax matters.
You might need tax resolution services if you’re facing issues such as unpaid tax debt, IRS audits, wage garnishments, tax liens, or penalties. If you’re struggling to manage or resolve these problems on your own, a tax resolution expert can help you navigate the complexities and find effective solutions.
During your free consultation, we’ll review your tax situation and discuss your concerns. We will assess your financial status, review relevant tax documents, and outline potential strategies for resolving your issues. This initial meeting helps determine the best course of action for your specific needs.
Common IRS settlement options include Offer in Compromise (OIC), Installment Agreements, Currently Not Collectible (CNC) status, Penalty Abatement, Partial Payment Installment Agreements (PPIA), and Innocent Spouse Relief. Each option has specific eligibility criteria and can provide various ways to resolve your tax debt.
The duration of the tax resolution process varies based on the complexity of your case and the resolution option chosen. Generally, it can take a few months to over a year to reach a final resolution. We’ll provide a timeline based on your specific situation and keep you updated throughout the process.
In many cases, the IRS will pause collection actions while we work on resolving your tax issues, especially if you’re making a good-faith effort to address your debt. However, this is not guaranteed, and we will work to negotiate with the IRS to halt any aggressive collection actions.
Yes, you will need to provide various financial documents to help us assess your situation accurately. These may include income statements, expense records, bank statements, and any correspondence from the IRS. These documents are crucial for developing an effective resolution plan.
To prevent future tax issues, maintain accurate financial records, file your taxes on time, and pay any taxes due promptly. We also offer educational resources and advice on tax management and compliance to help you stay informed and avoid common pitfalls that could lead to tax problems.