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Back Tax Negotiation Tactics

November 2nd

Owing the IRS money is serious business. In fact, the IRS is notorious for steep consequences on those who dodge their tax debt liabilities. Wage garnishment, asset seizure and even tax liens are all fair game when it comes time to collect. Ignoring collection efforts will only get you into further trouble. The best defense is negotiation for repayment.

Finding An Agreement

First, understand that your power in negotiating with the IRS is limited. Why? Because your tax liabilities are your civic duty. However, the IRS does understand that people experience financial hardships, which is why they are willing to offer some assistance.

When looking to negotiate your tax debts there are really two forms of help offered by the IRS; a payment plan that spreads out payments over the course of a few years or a settlement plan that allows for the taxpayer to pay less than is actually owed. The qualification standards for each of these options varies, which is why knowing your options ahead of time can save you time and money in penalty fees. It is a good idea to determine how much you can afford to pay each month, and whether you have the ability to settle with a lump sum payment before you contact the IRS to discuss your options.

Anyone considering negotiations with the IRS should contact a tax debt lawyer. Having a professional represent you in negotiations can boost your chances at success and keep you from having more serious consequences applied due to lack of payment.


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