Tax Relief Options That can Help

The thought of not being able to pay what you owe the IRS is very scary. There are tax relief programs to help you, if you qualify, the IRS takes settlements, payment plans and other options too. We have all heard how they can put liens on property, a business, garnish or levy your paychecks, and freeze your assets such as checking and savings accounts. There are some tax relief options though that can help. Then you can take care of your tax situation and not have it hanging over you.

Many people don't realize that there are various tax relief options out there though. They feel they are in a losing battle and it can cost them large sums of money. The penalties and interest alone that can be tacked on to what you owe the IRS can result in the debt lingering for a very long time. Don't let that that be what the future holds in store for you.

Get your Tax Returns Looked Over

First, if you have completed your tax return on your own, and you owe a large amount, get a second opinion. It is worth the money to hire a tax professional to look over everything for you. They are well aware of various deductions that you may be eligible for. Something that you overlooked could reduce your tax debt significantly. They will also double check that all of your calculations are correct.

If you have already filed your tax return, this is still one of the tax relief options that can help you. Should the professional tax preparer find differences from what you filed, they can assist you with completed an Amended form called the 1040X. This amended form can be filed for a period of time up to 3 years after the date that you filed your original tax return.

You may Qualify for Tax Abatement

One of the tax relief options that people don't know about is tax abatement. This means that your penalties could be waived by the IRS. Of course they aren't going to offer that information to you. However, it is one of your rights and it means that you can ask them to consider it in your case. They will review your information and look to see if you acted reasonably and in good faith.

They can choose to eliminate all of the penalties that have been assessed on your tax debt. They can also choose to reduce it be a percentage. Every situation is evaluated independently. The IRS is willing to help people, but they often have a reputation that makes people think that it is hopeless to ask for their assistance.

Sending in a letter to the tax abatement coordinator is the first step for this process. It should detail your name, address, and social security number. It should also specifically state the amount of tax penalties that you are asking for abatement for. Then you need to provide them with good reasons.

For example if your spouse has been very ill, there is loss of household income, or someone has passed away in your household. Perhaps you were unable to file your tax return due to a natural disaster. All of your paperwork may have been destroyed. You will need to provide any documentation that you can along with your letter asking for tax abatement.

Verification for Tax Abatement

Some of the items you can include are a death certificate, medical statements from doctors, photos of your home or business after a natural disaster, and notarized affidavits. Make sure you provide a good contact phone number in case they need to follow up with you. They may ask you to provide additional documentation so that they can make a decision on your case.

It never hurts to explore these types of tax relief options. You may find that they offer you a reduction in the amount of money that you owe to the IRS. That can be a big burden that you don't have to face. Don't wait until the IRS is hot on your tail though to evaluate if such options are possible for your own tax situation.

Mike Habib, EA is an IRS licensed Enrolled Agent and focuses his tax practice on resolving his clients tax debt through various tax relief options; he has the tax resolution knowledge, tax relief experience and specialized skill set to assist you. You can reach him directly at 877-788-2937.

Client Reviews
Mike has given us peace of mind! He helped negotiate down a large balance and get us on a payment plan that we can afford with no worries! The stress of dealing with the IRS is huge and Mike helped us through it all. The peace of mind is invaluable, thank you Mike! April S.
Mike Habib - Thank you for being so professional and honest and taking care of my brothers IRS situation. We are so relieved it is over and the offer in compromise process went just as you said. Mike is very professional and will give you honest answers to the OIC process and you can really trust him. You won't be sorry you chose him! Joe and Deborah V.
Mike is a true professional. He really came thru for me and my business. Dealing with the IRS is very scary. I'm a small business person who works hard and Mike helped me see that they are not that scary after all. He was always there with the answers I needed and was very good about calling me back which I appreciated since your first reaction is to freak out and ask a million questions. He solved a messy case and worked very hard to resolve it. His rates are VERY reasonable for the amount of work he does! I give him my highest recommendation! Marcie R.
Mike was incredibly responsive to my IRS issues. Once I decided to go with him (after interviewing numerous other tax professionals), he got on the phone with the IRS immediately (as in the same day I signed with him) to squash an impending issue. And he worked directly with them to quickly come to a resolution I am very happy with. I'd highly recommend reaching out to Mike to see if he can help you with any IRS issues. I'm very satisfied! Marshall W.
I’ve seen and heard plenty of commercials on TV and radio for businesses offering tax help. I did my research on many of them only to discover numerous complaints and unresolved tax issues. I found Mike Habib through my own online search and contacted him. He was very professional with great communication, always answering my questions and concerns. Mike resolved my complicated tax problem just as he said he would. I would definitely recommend his services to family and friends. Nancy & Sal V.