Our team has many years of experience in all phases of tax settlements and our client focused approach makes the process much more streamlined. We want our clients to know immediately if they are eligible. After a consultation (over the phone, or in person), we layout exactly what are the chances of achieving a settlement, and approximately the expected settlement amount. Tax Payers that are eligible for a settlement usually have a financial hardship.
As with a Tax Audit, a Tax Settlement isn't always going to work for any taxpayer. We try not to accept cases where a Settlement might not be acceptable to the IRS.
The IRS will allow a taxpayer to either negotiate a tax settlement for less than the total amount owed or come to an agreement on another method for the IRS to collect taxes owed over time. For either of these situations the taxpayer must meet the qualifications of one of the tax settlement programs set forth by the IRS. The taxpayer will first have to determine which type of tax settlement they would like to apply for and then submit the appropriate forms to the IRS for review before making a decision. A taxpayer can either fill out the information themselves or they can have a designated tax professional make the filing on their behalf.
What is a Tax Settlement?
It's an arrangement which the IRS or State authorities can accept that allows a taxpayer to settle an outstanding tax debt for less than the original amount owed. Taxation authorities sometimes allow this type of tax settlement when extenuating circumstances exist that would prevent the taxpayer from honoring the full debt. While not every situation is appropriate for engaging in a tax settlement process, individuals who owe taxes often find that tax authorities are willing to explore the individual situation to determine if a tax settlement is possible.