American Tax Settlement is a tax settlement company that helps individuals and business owners with settling tax debts that are owed to the IRS and/or state tax commissions.
We help with easy and complex tax issues. We help file taxes for unfiled tax years, help get tax liens released, release bank levies, remove judgments, and other challenges.
American Tax Settlement is a top tax settlement company that helps individuals and business owners with settling tax debts that are owed to the IRS and/or state tax commissions.
Paying a large amount of money to the IRS is a financial burden and causes stress in your life.
We are tax advocates for the consumer. As a tax settlement provider, we help clients who owe the IRS $10,000 or more settle their taxes and get a resolution to their tax problems.
We help many people settle taxes that are owed for 10 to 20% of the outstanding balance owed. We have some clients that we get their tax balance wiped away completely.
Our team has tax professionals that have many years of experience with both personal and business tax planning, and tax settlement experience.
Our team of tax experts includes Enrolled Agents, Accountants, CPAs, and Tax attorneys. If you have unfiled tax returns for past years, our team can help you file tax returns for years you have not filed. Whatever the problem someone has, our team has the experience to resolve even the most challenging tax matters one may face.
We are a member of the American Society of Tax Problem Solvers (ASTPS).
Whether the tax challenge is personal or business our team can help.
Whether small or large, we can help.
Many people feel their confidence decreasing once they face the complex and grueling process of dealing with taxes. This is perfectly reasonable. There is a reason professionals such as enrolled agents and certified public accountants and tax relief programs exist. These professionals understand and can stay on top of the rules that apply to your jurisdiction so you don’t have to deal with the stress.
21% of Americans owe some amount of money to the IRS based on data released by the US Government Accountability Office. These are from taxes that were not paid on the year that they were due whether in part or in full. Although tax relief does not magically eliminate the tax money you owe, these types of services and programs can help lessen the burden by settling for a lower amount. There are different types of tax relief including tax deductions, tax credits, and tax forgiveness. In essence, tax relief consists of IRS programs that were designed to reduce one’s tax bill.
If you’re in a bind because you owe on taxes due to the IRS, there are certain ways to obtain tax relief. Here are some of the most popular methods to consider
One of the common avenues for tax relief is an IRS Repayment Plan. This will allow you to split the total amount owed into manageable payments and avoid garnishments and levies. There will still be penalties and interest for the late payments until the balance is completely paid.
This payment plan can be short or long-term. Short terms tax relief spans up to 120 days while long-term plans go over 120 days. Only individuals are allowed to choose a short-term payment plan. There is also zero user or setup fee for short-term plans. Short-term payment plans allow $100,000 maximum in combined taxes, interest, and penalties owed. Long-term plans have fees and the maximum is $50,000 including combined taxes, interest, and penalties.
Offer in Compromise is a negotiation between the IRS and an individual who struggles to pay their tax liability in full or will experience financial hardship in doing so. This is also a legitimate method to settle tax delinquencies for a reduced amount. There are certain factors to consider such as income, ability to pay, and asset equity.
You must make the required tax returns and estimated payments plus an application to ensure eligibility. You will also be asked to complete Form 433-A for individuals or Form 433-B for businesses and Form 656 in addition to the required documents.
A huge tax bill that you can’t afford to pay isn’t the only trouble you can run into. You also need to think about interest and penalty charges that are accumulating which you would also need relief from. Penalty abatement is a type of relief particular to taxpayers who experience special situations that hinder their ability to pay taxes. These situations can include hospitalization, natural disasters, a serious illness, or other similar situation that is beyond their control. This is identified as reasonable cause penalty abatement.
The first-time penalty abatement is the most commonly available type of waiver allowed by the IRS. If you have a good history of filing and paying taxes on time and you don’t have a record of penalties, you may be qualified for first-time penalty abatement where the IRS waives the penalty.
Each day that you fail to pay your tax bill, a good amount of interest and fees is added to the unpaid amount. This is why qualifying for penalty abatement is incredibly helpful.
Most Americans agree that dealing with the IRS is an intimidating thought and would be the last thing they want to happen. However, the complicated regulations for filing taxes, the changes every year, and the tax jargon make the process overwhelming for many. Enlisting a tax relief service makes the process simpler and allows it to be understandable for the layman. There are advantages that you can take from having an expert:
If IRS representation is something that you are seriously considering, our membership with ASTPS can help prepare you to take on the IRS to assist you resolve your case with the back end support to do it confidently.
American Tax Settlement is a tax settlement company that helps consumers and business owners with tax challenges, settling back taxes with the IRS and state tax commissions. We help filing of unfiled tax returns.
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