WHAT IS TAX SETTLEMENT?
An agreement that is made between the IRS or State Taxing specialists that allow the taxpayer to retreat from the outstanding debt that is owed at a lesser cost than the actual amount.
WHO QUALIFIES FOR TAX SETTLEMENT?
Both individuals and businesses can qualify for tax relief dependent upon the mitigating circumstances. Qualifications vary from case to case, but most require some form of financial distress and inability to pay the full amount. Consultants are here to answer your questions, assist you in understanding your options and rights, and determine a beneficial course of action.
How It Works?
For the IRS to come to an agreement, they must first see if you qualify. The taxpayer will first have to do an analysis and decide which type of tax settlement they would like to apply for, then submit the appropriate forms to the IRS so that they can review before making a final decision. Typically, taxes are paid in full, but some exceptions are given depending on the individual’s circumstance.
Fill out all appropriate documents on their behalf. Once a settlement has been reached by both parties, the taxpayer will be considered in good standing with the IRS or state taxing authorities for the tax year/years that the settlement covered.