Tax Resolution Services in Spokane, WA
If you’re looking for help with your taxes in Spokane or Washington State, you might consider using a tax relief company. We provide guidance on the complex process of tax relief, and also help reduce the amount you owe. Typically, our tax relief services include a free consultation and financial analysis to determine The right program for you. We then streamline the entire process, from start to finish and this covers guidance on IRS audits and even communicating with the IRS on your behalf.
What Are the Benefits?
Do you find the IRS intimidating? Most Americans do. But the complex rules and regulations governing taxes can be even more daunting, especially if you don't know what you're doing.
Hiring a tax relief service can simplify the process and make it more manageable for the average American. Here are some of the ways you can benefit from using one:
Wage garnishment and asset seizure are two of the ways the IRS collects money that is owed to them, but they can be avoided if you know what your options are. A tax relief firm can help you find the best option if you're unable to pay your taxes.
A tax specialist can prevent or stop tax liens and levies by diving into your specific IRS collection case.
They can interpret complex tax laws so that you don't have to, and they can find the best solution for your specific tax situation.
They can step in as your tax representative to help protect and negotiate on your behalf.
Hiring a tax professional will not only help alleviate your tax issues but prevent further ones from coming up in the future.
Offer in Compromise
This type of tax relief can help you settle your tax delinquency for less than what you owe. It takes into consideration your income, asset equity, and ability to pay.
To be eligible, you'll need to make all required estimated payments and tax returns, and pay the application fee. You'll also need to fill out Form 433-A (individuals) or 433-B (businesses), and Form 656.
Installment Agreements
If you owe under $50,000 and have paid all previous tax returns, you may be eligible for an Installment Agreement. Under this agreement, you are provided with a payment plan that spreads out the tax payment over a manageable period of time.
Currently Not Collectible
If you currently do not qualify for a standard IRS payment plan but agree that you do owe money to the IRS, you could be assigned a Currently-Not-Collectible status (CNC). Under this status, you are given some time to get your finances back on track. Although the IRS typically will not levy any assets of those in a CNC status, they may withhold any tax refunds and apply them to the balance owed
Penalty Abatement
If you're struggling to pay your taxes, you may be able to get some relief with penalty abatement. This is a type of tax relief meant for people who have special circumstances that have led to an inability to pay, such as experiencing a natural disaster, hospitalization, serious illness, or other uncontrollable circumstances.
There are two types of penalty abatement: reasonable cause and first-time. If you don't have a history of tax penalties and you file your taxes on time, you may be able to get first-time penalty abatement.
Each day your bill goes unpaid, the IRS will add on a lot of fees and interest. So it's worth looking into if you qualify for penalty abatement.
Injured Spouse
If you're married and your spouse has a lot of past debts that the IRS can come after, you might end up paying "injured spouse" taxes. This happens when you file a joint tax return, and the IRS takes your refund to pay off your spouse's old debts. It can mean you get less of a refund or no refund at all.
Some examples of debts that might cause injured spouse taxes to include:
- Past-due child support
- Past-due student loans
