Owe IRS Back Taxes? The Offer in Compromise or Installment Agreement are Your Options for Tax Relief in Omaha, NE
If you are an IRS tax defaulter residing in Omaha or Council Bluffs, this article will describe the most feasible legal options for you to get rid of your IRS back taxes problem.
This is a common question among the IRS tax defaulters in America “what options do I have?” here is the answer; you have two viable options: Offer in Compromise and Installment Agreement. However, there is a criterion to qualify for OIC for which you need to assess your current financial status and know the viability of this process. This might not be an easy job for a nonprofessional, but luckily you can seek free consultation by calling at 877-788-2937.
Let us discuss these two options one by one:1 – Offer in Compromise (OIC)
Offer in Compromise is the first option to be considered by the taxpayers who are unable to pay their taxes even when the time is lapsed. US Congress established this program to aid taxpayers having extremely poor financial conditions. In an Offer in Compromise the taxpayer and the IRS reach a mutual ground of agreement and the taxpayer pays a considerably reduced percentage of the actual debt owed. All the back tax debts are cleared and all the federal tax liens are also released once your Offer in Compromise is accepted by IRS and paid by the taxpayer.
However, to carry out this process efficiently and to get the maximum results you should consider a tax relief professional.
One important thing to remember; the acceptance of Offer in Compromise entirely depends on your situation i.e. you must be able to demonstrate that you cannot pay your IRS debt even long after the due time is over.2- Installment Agreement
What to do if you fail to qualify for an OIC and still you cannot pay your back taxes in full; Installment agreement is the only way for you. Instead of paying the full amount lump sum, a simple repayment plan is established and you can pay your debt over a period of time in installments. In this way you do not put much strain on your routine expenditures and can also pay your debt.
For Installment Agreement you have to negotiate with IRS for a reasonable monthly installment. When IRS approves your Installment Agreement it will not enforce collection actions i.e. bank levy or wage garnishment.
To get the best payment plan according to your comfort in Omaha and Council Bluffs you can contact Mike Habib at 877-788-2937 who is an enrolled agent with over 16 years of experience in the taxation field.
Tax problem resolution services, IRS tax help and tax relief services in Omaha, Council Bluffs, Papillion, Bellevue, La Vista, Cass County, Douglas County, Sarpy County, Saunders County, Washington County, NE and Harrison County, Mills County, Pottawattamie County, IA and other cities in the state of Nebraska and the state of Iowa.