Tax Debt Resolution
Should you be afraid of the IRS?
Yes and No. Yes, if it makes you want to resolve your tax issue. No, if it causes you to do nothing. Like most issues, the best way to resolve it is to address the problem.
Once an individual owes taxes, the IRS attempts to collect amounts owed by sending letters. As time goes by, each letter becomes even more threatening until the IRS files a lien against the taxpayer to document the individual’s liability to the IRS. Liens are public knowledge and affect your ability to obtain new loans and will affect your credit. They can be removed if the taxes are paid, or the individual makes alternative arrangements to pay the debt.
Once a Lien has been filed, the IRS has the authority to levy the individual’s bank accounts and income. Unfortunately, many individuals wait until the IRS has begun to levy bank accounts and wages before acting. Once again, payment of the tax due or making alternative payment arrangements can stop Levies or Garnishments.
It is important that the expatriate not ignore these letters and either contact the IRS directly to establish a payment plan or hire a qualified tax professional to represent them in negotiations with the IRS.
Living overseas presents special challenges in communicating with the IRS. Time zone differences as well as lack of knowledge by IRS officials when it comes to dealing with expatriates makes it especially difficult to deal with these issues.
We can assist with the following:
- Penalty Abatement and Reduction
- Tax Re-Determinations
- Payment Plans
- Offers in Compromise
- IRS Liaison Services
- State Tax Issues
Complete our Free Consultation form and start the process to resolving your IRS and, or State Tax issues.
