IRS Tax Debt Problem Solutions

(Click on Title for more information and a video explaining the solution)

check imageOffers in Compromise

– Don’t worry… be happy! There is hope! This program offers taxpayers the chance to get a fresh start. An offer amount is determined based upon the taxpayer’s inability to pay. The IRS considers current financial situations, the ability to pay, and equity in assets among other things. If you qualify, you can save thousands of dollars in taxes as well as penalties and interest.

check imageCollection Statute Expiration Date

– Feeling like your IRS problem will never end? Like this problem will haunt you for the rest of your life? Well… not quite. There is a time limit to the madness. Watch the video to find out about the Collection Statute Expiration Date also known as the CSED. There is a ten year time limit from the date of assessment of the tax. So..the IRS doesn’t have forever.

check imageCurrently Not Collectible

– Some taxpayers find themselves in a temporary situation where they just can’t afford to pay anything toward their IRS liability. Maybe a temporary illness, layoff, or even just living on a fixed income with substantial equity in your home. Well, there is an answer for you and it just might be attempting to be placed in Currently Not Collectible or “hardship” status.

check imageInstallment Agreement

– Installment agreements also known as payment plans can be a very viable solution for IRS problems both large and small. There are variety of factors which come into play in determining whether or not an installment agreement or IRS payment plan is the best solution for the best resolution for your case. Click the link to fall to watch the video and learn more about whether or not an installment agreement is a solution for your IRS problem.

check imageTax Bankruptcy

– It is a common myth that taxes can never be discharged in bankruptcy. In fact hardly a week goes by without some taxpayer telling me that taxes cannot be discharged in bankruptcy. They’ve probably heard this information either through the media, a misinformed bankruptcy lawyer, or it’s just a supposition that they have made. There are three factors that enter into play to determine whether or not taxes can be discharged in bankruptcy or not.

check imagePenalty Abatement

– The IRS has over 150 different types of penalties that can apply in a taxpayer’s case. Almost all of them can be reduced or eliminated through a process called Penalty Abatement. Something called “reasonable cause” is necessary before Penalty Abatement can be achieved.

check imageInnocent Spouse

– Innocent Spouse Relief can be a solution when you have a former spouse that is responsible for a tax debt that you would rather not pay. A rather complex analysis must be made before a determination is made whether or not the filing of an Innocent Spouse Petition is a good idea to resolve your IRS problem case. In fact, there are three different types of Innocent Spouse Relief they can apply depending upon your particular situation.
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