If you’re like the average citizen, you probably know very little about tax law and have no real experience with this type of situation, making it difficult to decide how to proceed. Independent contractors and other self-employed workers face further complications and responsibilities regarding their taxes, which leaves them especially vulnerable to problems down the road.
The good news is there are multiple back tax solutions for taxpayers. One of those solutions is a tax settlement. However, before you try to file for this solution, it’s important to know how you qualify for a tax settlement and what exactly a tax settlement is.
Reaching a tax settlement involves working with the IRS so you can pay a much smaller amount than the sum of your original debt. While this solution may sound simple, securing a tax settlement can be a complicated process.
Because tax settlements can be difficult to acquire, it’s vital that you learn as much about current state and federal tax regulations, as well as whether you qualify for a settlement based on the details of your situation. You should, first and foremost, have the ability to prove your inability to pay off your tax debt in full.
It’s often in your best interest to find a professional who can assist in your tax settlement negotiation. In most cases, tax relief companies are your best bet. Through this resource, you’ll be able to find a tax expert who knows the ins and outs of dealing with a wide range of tax problems as well as how current tax laws operate.
The Rocket Tax Relief team is the perfect resource for Pasadena taxpayers. We communicate closely with our clients to provide the best, most individualized and effective service. Give us a call at 800-542-4718 or complete our online form to learn more about how we can help you negotiate your tax settlement. We offer 15-minute tax consultations at no cost.