What do you have to do if you have become a defaulter?
The rates never cease to increase, so it is in your best interest to discover methods to reduce your outstanding taxes as soon as possible. You can hire a tax expert to assist you with your case, especially if your tax debt has already exceeded $1000. However, if you prefer to labor independently and fix things on your own, you may do so.
IRS Debt Relief Program (IDRP)
An IRS debt relief program is not universally accessible. This program provides assistance based on the weight of your current position. A """"Offer to Compromise"""" is likely the most popular method for enrolling in this program. It enables you to persuade the IRS to reduce the taxes you owe as a result of unavoidable circumstances that have occurred or are occurring. This makes your situation uncomplicated and less complicated.
IRS Payment Plans (IPP)
Another option is to utilize the IRS Payment Plans. There are certain requirements that must be satisfied in order to qualify. After approval, you can promptly begin paying any outstanding taxes.
Wage Freeze (WF)
Putting your wage garnishment on hold is another option you can consider. When they determine that you are qualified, they will make you an offer. They will inform you of the amount you must pay based on their assessments of your current standing.
If you find the information presented above to be confusing, it is recommended that you seek the assistance of an expert tax advisor.
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