Tax resolution is the process of resolving issues with the Internal Revenue Service (IRS) related to unpaid taxes or other tax-related problems. Tax resolution typically involves negotiating with the IRS to resolve tax debt or other tax-related issues.
Here are some things you need to know about tax resolution:
- Tax resolution professionals can help you: If you owe taxes to the IRS, Matthew Jennings, JD, MBA, EA, RFC®, CEP®, CES™, aka Tax King Matt can help you negotiate with the IRS to reduce your tax debt or set up a payment plan. Tax resolution professionals are trained to work with the IRS and can help you navigate the complex tax laws and regulations.
- There are several tax resolution options: The most common tax resolution options include installment agreements, offers in compromise, and penalty abatement. Installment agreements allow you to pay your tax debt over time, while offers in compromise allow you to settle your tax debt for less than the full amount owed. Penalty abatement can reduce or eliminate penalties that the IRS has assessed against you.
- Tax resolution can be time-consuming: Resolving tax issues with the IRS can be a lengthy process. It may take several months or even years to reach a resolution, depending on the complexity of your case and the options you choose.
- The IRS may impose penalties and interest: If you owe taxes to the IRS and don’t pay them, the IRS can impose penalties and interest on the unpaid balance. These penalties and interest can add up quickly, making it harder to resolve your tax debt.
- Tax resolution may require legal assistance: If your tax issues are complex or involve legal issues, you may need to hire an attorney to assist you with tax resolution. Attorneys can provide legal advice and represent you in court if necessary.
Overall, tax resolution can be a complex process, but it is possible to resolve tax issues with the IRS with the help of Tax King Matt. If you owe taxes to the IRS, it’s important to take action as soon as possible to avoid penalties and interest.