In the midst of covering your day-to-day living expenses, it can be pretty hard to find the free funds to pay your entire tax debt in full. Unfortunately, failing to pay these taxes just makes things worse. The IRS will demand penalties, charge interest, garnish your wages, file a lien on your property, or even seize your property altogether if you don’t act fast. We’ve seen it time and time again, and it’s not pretty.
Fortunately, our tax resolution specialists can put a stop to it – the constant collections attempts, the liens… all of it.
Drowning in Tax Debt?
Our tax resolution specialists have a number of tricks up their sleeves when it comes to resolving your tax debts, but the overarching goal is to ensure you pay the smallest amount of taxes legally possible.
The first thing we’ll do is stop all the aggressive collection activities, so you have the time and peace of mind to tackle your tax debt properly. Then we have a few options on how to approach your tax obligations. We can:
- Negotiate and settle – The IRS allows for what’s called an “offer in compromise.” If you’re unable to pay your taxes in full – and likely never will be able to – we can offer the IRS a much smaller, one-time payment to satisfy the debt and have your slate wiped clean.
- Put you on a payment plan – We can also work with the IRS to negotiate your tax debt into smaller, spread-out installment payments over the course of months or even years, depending on what you can afford, and even get rid of the accrued penalties.
- File for currently not collectible (CNC) status – CNC status essentially puts your account on hold with the IRS, giving you time to realign your finances.
Let Five Stone's Tax Resolution Specialists Help
Having the IRS on your back can be stressful – especially if you’ve already fallen on hard economic times. Let our tax resolution specialists take the burden off your shoulders and fight on your behalf. Contact us today to set up a free consultation.