Who Can Help With Tax Problems

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Who Can Help With Tax Problems – I Need Help With Tax Debt

Are you wondering, ‘Who can help with tax problems?’ If you are looking for some help to remove the tax problems from your life this article will help you today.

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Dealing With Back Taxes

In June, the Internal revenue service will start utilizing private companies to collect back taxes from businesses. For this reason a lot of people are saying, ‘I need help with tax debt!’

As this new program goes into effect, Platinum Tax Defenders shares the ways companies can pay back taxes before their accounts get sent to private collection agencies.

This month, the Internal revenue service will begin using private companies to collect unpaid taxes from businesses.

Based on a news article in Bloomberg Tax from May 23, 2019, the Internal revenue service plans to refer 200 business cases per week initially.

As part of the private debt collection program, companies can collect unpaid taxes on behalf of the government.

 

Getting Help Fast

The article went on to say that the Internal revenue service will monitor how companies are managing the new referrals for several weeks.

The Internal revenue service will ensure that all protocols are working correctly before referring more accounts.

This new program follows a previously released program by the Internal Revenue Service that allowed private debt collectors to collect taxes from individual accounts.

For companies, private debt collectors will be mainly going after unpaid employment taxes, that are taxes that employers withhold from their staff.

Employers are legally accountable for collecting employment taxes and pay them to the IRS.

For companies whose accounts are in danger of being sent to private debt collectors, there are tax resolution options available.

Platinum Tax Defenders offers debt relief services for people and businesses and provides a tax resolution available for companies.

To book a Free Tax Consultation click here today.

Get the Best Tax Resolution

Since there are lots of factors involved with business taxes, it is challenging to determine which tax resolution strategy works best without talking to a tax resolution professional.

For companies who can’t pay their tax debt in one lump sum, they may apply for an Installment Agreement with the IRS.

With an Installment Agreement, a tax resolution professional would negotiate a monthly payment with the Internal revenue service on behalf of the company.

This option allows the business to pay back their debts in monthly installments, typically over 72 months.

For companies with minimal assets and income, they might qualify for the Internal revenue service Offer in Compromise program.

With the Offer in Compromise program, companies can settle for less than they owe.

In case your company is really in jeopardy, you can try to apply for Currently not Collectible status with the IRS.

In case the Internal revenue service agrees, they’ll leave you be for approximately a year.

While you’ll still owe taxes and penalties, the Internal revenue service won’t engage in any collections against you while you are deemed Currently not Collectible.

While this is a last resort, it might be an option for some businesses and small business owners.

 

Final Note

Before considering declaring bankruptcy, it is essential to consult a LA tax attorney.

There are downsides to applying for bankruptcy, and company owners should be aware of them before they file.

I hope this answers the question who can help with tax problems to help you take steps in the right direction and find the best solution.

 

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