Our Frequently Asked Questions (FAQs) provide clear and concise answers to common tax concerns. If you don’t find what you’re looking for, feel free to call us at 1-866-511-2585 or email info@usataxsettlement.com for a personalized free consultation.
An Offer in Compromise (OIC) allows you to negotiate a settlement amount on your Unpaid Taxes and thus pay less than what you owe. This can be a good option for you if you know that you can’t afford to pay the full amount you owe in taxes, or if doing so will result in financial hardship.
A taxpayer installment agreement is when you agree to pay off your federal Unpaid Taxes over an extended period of time. The IRS offers four different types of installment agreements: guaranteed, streamlined, partial payment, or non-streamlined.
A tax lien means that the IRS has a legal claim against your property used as security for your Unpaid Taxes. A levy, on the other hand, is much more aggressive than a lien and it involves the actual seizure of your property. Finally, liens are public records and can have a negative impact on your credit report, whereas levies are not public records and should have no impact on your credit.
Yes, If you’re not current with your tax return filing, we can provide you with advice to help get you started during your free consultation, but we won’t be able to move forward until you are current, don’t worry as we also offer tax preparation services to get your tax filings current. Both the IRS and State Tax Authorities will require that you’re up-to-date on your filings in order to qualify for an Offer in Compromise (OIC) or an Installment Agreement.
We work with both individuals and businesses.
The IRS Fresh Start Program helps struggling taxpayers by making it easier to qualify for tax relief options like Installment Agreements, Offers in Compromise, and Tax Lien Withdrawals. Qualification depends on your income, tax debt amount, and ability to pay.
Ignoring IRS collection notices can lead to tax liens, bank levies, wage garnishments, or even property seizures. If you receive an IRS Final Notice of Intent to Levy, act quickly to avoid aggressive collection actions.
While some taxpayers may qualify for Offer in Compromise, the IRS will only approve settlements if they believe they won’t be able to collect the full amount. Each case is unique, and eligibility depends on financial hardship and ability to pay.
Yes, If you’re not current with your tax return filing, we can provide you with advice to help get you started during your free consultation, but we won’t be able to move forward until you are current, don’t worry as we also offer tax preparation services to get your tax filings current. Both the IRS and State Tax Authorities will require that you’re up-to-date on your filings in order to qualify for an Offer in Compromise (OIC) or an Installment Agreement.
Currently Not Collectible (CNC) status is a temporary relief program where the IRS halts collection actions if you prove that paying your tax debt would cause financial hardship. Interest and penalties may still accrue.
A federal tax lien typically lasts until the tax debt is fully paid or until the 10-year statute of limitations expires. You may also request a lien withdrawal under certain circumstances, such as entering into a Direct Debit Installment Agreement.
While tax liens no longer appear on consumer credit reports, they can still impact financial transactions. To remove a tax lien, you must either pay the debt, negotiate a settlement, or apply for a Lien Withdrawal under the Fresh Start Program.
Yes, but the IRS will generally attempt other collection methods before seizing your home. If a levy is placed on your home, you have rights, including filing an appeal or negotiating an alternative resolution.
Yes, through a bank levy, the IRS can freeze and seize funds from your bank account to satisfy tax debt. You have 21 days to respond and request a levy release before the IRS takes the funds.
You can avoid a tax lien or levy by paying your taxes in full, setting up an installment agreement, or applying for an Offer in Compromise. The IRS typically issues a Notice of Federal Tax Lien before filing it in public records. If you receive a “Final Notice of Intent to Levy,” you have 30 days to appeal or make arrangements before your assets are seized.
We work with both individuals and businesses struggling with IRS tax debt. Our services include payroll tax relief, penalty abatement, installment agreements, Offer in Compromise applications, and more. Businesses facing tax liens or levies can consult us for tailored tax resolution strategies.
If your business owes payroll taxes, act quickly. The IRS aggressively collects unpaid payroll taxes through penalties, liens, and levies. Options include setting up a payment plan or negotiating a Penalty Abatement.
The Trust Fund Recovery Penalty (TFRP) is imposed on business owners and responsible parties who fail to remit payroll taxes. The IRS holds individuals personally liable, making it crucial to resolve payroll tax issues immediately.
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