A letter from the IRS can send chills up anyone’s spine. Discovering that you owe this intimidating agency money can be anything from annoying to downright terrifying. After all, they don’t play around, and they can confiscate nearly everything you have to settle your account. Your tax service in Jamestown, ND is here to help you avoid those situations.
The good news is, you have several options for resolving tax issues. If you have missed payments or owe penalties to the IRS, you can use one or more of these strategies to set things right and get back on track with the IRS.
Check the Facts
Always review your tax returns if the IRS claims that you owe them money. It is possible that a mistake was made and you don’t actually owe anything. Seek the help of tax services in Jamestown, ND for a professional review of your taxes. This process will ensure any errors on your part—or that of the IRS—are discovered and corrected.
If it turns out you owe a significant amount to the IRS, don’t despair. It’s unlikely that you have to come up with this entire sum tomorrow. The IRS will often work with you to set up a payment plan which makes paying off the amount more feasible. Partner with a professional tax service in Jamestown, ND to negotiate with the IRS and establish a payment plan that works for you. Keep in mind that falling behind on this payment plan can result in garnished wages or other negative consequences, so be sure to establish a plan that you can afford.
Is a payment plan not enough? If you truly can’t afford to pay what you owe to the IRS, there may be hope still. Believe it or not, it can be possible to negotiate with the IRS. If you have limited income and assets, the IRS may be willing to compromise and accept partial payment. Working with experienced tax services in Jamestown, ND can help you navigate these negotiation waters. You may end up paying a fraction of what you originally owed. Be sure to use expert input, though, as this process involves a lot of legalese and strict regulations that you don’t want to misunderstand.
Again, working with the IRS to resolve tax payment issues can be complex and intimidating. It’s important to have someone in your corner who knows the laws, policies and protocols of the IRS. Professional tax services in Jamestown, ND can ensure you don’t miss anything, pay the right amount and avoid unnecessary hassle and heartache.
Partner with the Pros
Are you staring at official letterhead from the IRS? Don’t panic. For top tax resolutions strategies that can save your bank account, contact the pros at Craig S. Hanson, CPA. We are your premier tax service in Jamestown, ND. We offer tax preparation, tax consultation, accounting services and more. Give us a call today to discover how we can resolve your tax concerns.