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More Americans Need Help Negotiating Payment Plans and Resolving Tax Audits
By Michael Rozbruch | August 4, 2010
The IRS has become increasingly aggressive in pursuing non-filers and tax cheats, especially in this weakened economy. Since 2008, over 1.4 million Americans are audited each year, with the IRS collecting billions.
The IRS is doing everything it can in its considerable power to investigate and curb tax evasion, from simple audits to examinations of complex, multinational tax shelter programs. This year, the IRS stepped up its investigations of offshore accounts used to hide income and evade taxes – and ended up demanding the names of individuals who have such offshore accounts. The agency examines these accounts – and the taxpayers who use them – using the same tools that criminal investigators use.
With the economy shabby and tax revenues decreased, Uncle Sam’s tax-collecting agency is taking every step it can to collect what’s due. Be warned.
The most dramatic figure in the recent numbers comes in the staffing column. Even as the IRS collected twice as much last year as it did in 1999, the agency accomplished this with fewer enforcement staff members – suggesting the government is becoming more efficient even as it becomes more aggressive.
This should serve as a wake-up call for those taxpayers who continue to evade taxes by improperly writing off personal expenses to businesses, underreporting income, or using offshore trusts to conceal income. The trend towards tougher enforcement against tax avoidance means that more Americans than ever will need to know their options for income and payroll tax relief and IRS help.
Save yourself the time, money and frustration – know how to get tax help and learn the various options that are available to you as a taxpayer. The best step you can take, as a taxpayer in a difficult financial situation, is to file your tax return, pay what you can and work with the IRS to establish a payment plan that will keep them happy. While the IRS offers payment options for struggling taxpayers to help them reduce their tax debt, they will still need a specialized tax professional to permanently solve their problems with the IRS.
You cannot do this on your own! You are way out of your league if you think you can. You wouldn’t go to court without a lawyer – don’t try and take on the IRS without proper representation. You need the help of a seasoned tax attorney who has decades worth of experience with the IRS. For instance, a Certified Tax Resolution Specialist can negotiate the lowest possible monthly payments and work out an installment agreement over 7 years instead of 5. Additionally, they may be able to work with the IRS to get levies released a lot quicker.
Other tax resolution strategies include offer in compromise, abatement of penalties due to reasonable cause, analyzing the statute of limitation to assess, and collect and negotiating that your account be placed in a “currently not collectible” status so that you will not be required to make payments and the IRS will not pursue collection.
Both individuals and small businesses are at a huge disadvantage if they try to face the IRS alone. They need expert representation or they risk the IRS managing their cash flow via financially debilitating levies. I always tell people who are struggling to overcome their tax burdens that knowledge is power and the key to gaining a new lease on your financial life.
Tax Resolution Services, Co. is dedicated to providing affordable solutions to businesses and individuals alike who find themselves in trouble with the IRS. For more information or to receive a FREE tax relief consultation, visit www.TaxResolution.com or call (888) 259-1516.
Topics: IRS Payment Plan, IRS tax audit, IRS tax evasion, IRS tax relief, Offer in Compromise, back taxes, tax attorney, tax help | No Comments »