I received help from Republic tax relief and was able to settle with IRS for $29,700 less than what I owe. It was my first time paying someone to handle a tax problem, and I was impressed with the ease of the process and the help I received. I will be using this site to help others. There are so many different websites offering cheap tax relief from IRS. Do your research and find out which of these sites offer the best solution for your specific problem.
Here are some reasons why having a well-trusted tax relief company matters in getting tax relief settlement with the IRS:
1. The IRS does not want you to settle with the IRS. They will continue to pursue you until you pay what you owe to them. If you file for bankruptcy, and continue to dispute IRS tax debt, IRS will make sure to freeze all of your bank accounts until they collect. If you file for bankruptcy under Chapter 13, your creditors will most likely not receive payment either. The IRS will not want to release tax money because they will most likely never get it back. The IRS can take a number of months to audit a tax return. The IRS takes up to five years to issue a 1099K so you will most likely have to wait at least 5-7 years to see any money owed back to you.
2. There is nothing worse than seeing how unfair the IRS can be. After the IRS gets a tax refund from you, the IRS will never refund your money to you. It will remain in a “Special Account” in which the IRS can withdraw your money without notifying you. It is very important to file a claim with IRS so they can refund it back to you. This can take up to several months, and there are a number of factors that could delay the process. If you do not file a claim, the IRS can also put the money into the general fund where it can be withdrawn without notifying you. You would not know how much money you are owed until you file a claim.
3. The IRS will continue to call you if you owe them money. After the IRS has filed a notice against you, they will continue to call you every year or two to remind you of your tax debt. The IRS will call you in person, in person over the phone, by mail, or over the Internet. If you ignore the IRS, they can issue a tax levy and place a hold on your bank accounts so the IRS can use your bank to pay their own debt.
4. Once you are served, you have 60 days to file your petition. At the end of 60 days, the IRS has the opportunity to decide whether or not to proceed with the case. If the IRS proceeds with the case, they have the option to accept or deny the bankruptcy. If they accept the bankruptcy, they will move forward in the case. If they reject it, the case will most likely be dismissed.
5. If your case is accepted, the court will order you to start making payments to the IRS. If you are able to do so, your tax debt will be paid off over a set period of time. If you cannot pay, you will be able to pay off some of your debt, but not all of it. The court can reduce your tax debt, but it cannot remove it entirely. If you pay your tax debt off, and then cannot find a job, your tax debt can be discharged.
6. If your case is dismissed, the IRS will keep the money that was in your case. They will also begin to pursue you if you cannot find a job and cannot pay your tax debt.
7. If your case is dismissed or you cannot pay the IRS, it can only be reopened through the IRS. You will need to pay all of the fees again. To make sure you have the money to pay the fees, you may need to secure a job or receive more money from the IRS before your case is reopened.
8. If your case is dismissed or you cannot pay your tax debt, you will not be able to reopen it later. Even if your case is dismissed for any reason, you will not be able to reopen your case again.
9. If you are not able to get the money to pay your tax debt, you may be able to request an installment agreement. This will give you time to pay your taxes so that you don’t have to declare bankruptcy. The IRS may approve or deny your request. If they decide to approve your request, you will be required to pay your taxes on a smaller, more manageable sum. If you are approved, you will have to pay your taxes in monthly installments. The agreement may end if you cannot pay your taxes on time.
10. If you are approved for an installment agreement, you will have to tell the IRS about all of your income and expenses. You must also tell them if your income decreases.
11. If you are approved for an installment agreement, you may be able to get your taxes back paid if you are able to follow the requirements.