Dealing with the IRS is intimidating and scary and if you find yourself receiving certified letters, phone calls or even visits from an IRS agent like I did then you can feel almost paralyzed not knowing what step to take next. What you need is tax debt relief and you can get it just like I did and like thousands of others are doing every day.
Tax Debt Relief
1. Stop putting the IRS problem off. This is a place I went wrong. It wasn’t that I was ignoring the letters and phone calls I just didn’t know what to do with them. I didn’t have enough money to pay the bills and talking to the IRS was intimidating but by putting it off my penalties, interest and late fees nearly doubled what I owed.
2. Don’t try to settle by yourself. When I finally got “caught” on the phone with an IRS agent he got me to sign into an agreement. This was a huge mistake! Basically they gave me 120 days to pay what I could of my bill and then they promised a settlement for the remainder. So I scrapped together $8,000 dollars in the 120 days thinking if I could show I was really trying that they would go easier on me. What happened was that at the end of the 120 days they tacked on exactly $8,000 in penalties! They completely wiped out the entire amount I sent them and did not reduce my total due by even a penny – crooks!
3. Hire a tax consultant. I was reluctant to do this at first because I wanted to settle this problem on my own and the last thing I wanted was to hire someone to help. This however is what solved my problem.
What I did was got online and found a tax consultant, it does not have to be anyone local. I filled out the short form that asked about 8 questions about my situation and then I had a tax consultant explain to me a strategy to follow. The best thing was that the tax consultant took over all communication with the IRS for me! I loved this because I hated talking to the IRS agents because I always felt that they were trying to get me to say something I would regret.
The tax consultant got the IRS to almost wipe out my penalties, lower the amount I owed and this was such a relief because I was very close to losing my business and who knows what else.