if you have debt in several areas and owe money to the IRS, get in touch with a tax expert right now.
Aurora, CO (PRWEB) March 01, 2013
CTR’s Aliso Viejo tax attorney is offering guidance to California taxpayers in debt to the IRS that have other financial obligations to pay. Being in debt to the IRS can be stressful, and managing tax repayment along with other payments and expenses can be a difficult task. Any taxpayers finding themselves in this situation should contact a tax professional immediately.
“If you have debt in several areas and owe money to the IRS, get in touch with a tax expert right now,” claimed a CTR spokesperson. “There are options for you that will allow you to avoid collection from the IRS and still have money for your other bills. California tax specialists such as an Arcadia tax attorney can help you find the best solution for your financial situation.” This advice also applies to those who have several current standing accounts, such as car or mortgage payments, in addition to their tax debt.
CTR has helped clients weighed down by the burden of owing money to several sources find a balance in their debts. The IRS has many different programs available for tax debt repayment. Installment Agreements are settlement options that allow for a more gradual form of debt resolution. Some of these involve a constant payment amount over a 60 month period.
CTR’s Augusta tax attorney has advised Georgia taxpayers that some Installment Agreements, such as the Stair-Step Installment Agreement, allow for a smaller payment over the first 12 months of the repayment period. This method gives a taxpayer more available funds to handle a short term balance. After the other obligations have been settled, the remaining payments are increased to pay off the full balance by the end of the term.
“Any significant and recurring debts owed, such as credit card debt or personal loans, can be solved through such programs as a Conditional Expense Installment Agreement,” a CTR spokesperson said. “The important thing for taxpayers is to know that there are resolution options out there for them and that we are here to help navigate through debt settlement with them.”
CTR’s Aurora tax attorney warns taxpayers in California that the most important step to take when IRS debt has started to accrue is to find some kind of repayment option that works with their particular financial situation. If no action is taken, the IRS will pursue debt collection. This can increase debts owed by the assignment of penalties. Once debt has increased and no effort has been made by a taxpayer to settle with the IRS, liens and levies can be placed on the individual’s assets and accounts. To avoid this, taxpayers should contact tax professionals to help negotiate a solution with the IRS.
CTR offers tax debt resolution and tax services for individuals and businesses across the United States. The company uses a three step program to create personalized strategies to help taxpayers settle their IRS debt. The company offers many services, including: state and federal tax debt resolution, IRS audit defense, tax preparation and bookkeeping.