What You Should and Shouldn’t Do When Seeking an IRS Tax Settlement
November 23, 2015
It’s believed that approximately 35% of all Americans are dealing with debt collectors right now. Getting contacted by a debt collector for an unpaid credit card bill isn’t fun. Getting contacted by a debt collection agency and finding out that the IRS is coming after you for unpaid taxes is far worse. The best thing you can do is look into how you can get an IRS tax settlement. Once you’ve procured one, you can start making payments and get out from under the debt without having to worry about the IRS garnishing your wages or taking steps to seize your property.
What You Shouldn’t Do
The absolute last thing you should do is ignore your IRS tax debt. Too many people do this and the results are never good. The debt isn’t going to go away, but it will continue to gather fees and interest until the bill becomes impossible to manage. The sooner you seek an IRS tax settlement, the better.
Don’t try to handle the matter on your own. Communicating with the IRS is never easy or fast, and when you try to arrange for an IRS tax settlement by yourself, there are several different things that could delay or even halt the process. People who try to secure an IRS tax settlement on their own, often find that their failure to get professional help costs thousands and thousands of dollars.
What You Should Do
Seek the assistance of a professional attorney who has a great deal of experience helping clients get the IRS tax settlements they deserve. Once you’ve connected with the attorney, you can sit back and let them handle the matter. Not only does the attorney have the connections and experience needed to secure the settlement in a timely manner, they also have the tools needed to handle the wide variety of situations that can crop up.
Before contacting the IRS on your behalf, your tax attorney will arrange a meeting with you during which time they will explain your various options and based on the information provided, the best possible course of action can be decided upon.
Having a professional tax attorney smooths out the process of obtaining an IRS tax settlement, but you shouldn’t expect an overnight conclusion. You need to be patient. The process takes time. The exact amount of time needed depends on a variety of different factors, including the amount you owe the IRS, the details of your case, and the type of settlement required.
If a day comes when you receive a letter from the IRS stating that you owe them money, take a deep breath and stay calm. Remember that you do have options and that as long as you quickly contact a professional tax attorney, the amount of interest and number of fees attached to the debt can be minimized and that a settlement between you and the IRS can be created that makes all parties happy.