Thursday, March 6, 2014

IRS Collections FAQ - How can I Get Tax Debt Relief?

Can't Sleep!!

I Need Help With Back Taxes.  What Are My Options?

There are millions of Americans right now who are having sleepless nights and anxious days because they owe the IRS $5,000, $10,000, $50,000 or even more that they are unable to pay.  Quite frankly, many of these folks are honest, hardworking, folks who never planned to end up in this predicament, and now they have no idea what to do, or even who to tell.

To make matters worse, they are now receiving threatening letters from the IRS that promise to create addition havoc on their financial lives through the use of levies, liens, and even garnishing wages.  And now April 15 is almost here, and this will just add to the problem.

If we just described you or someone you know, you might be surprised to learn that the IRS has plans that might help you resolve your issue in a way you can afford.  And if you owe less than $10,000, you would be wise to just pick up the phone and speak directly to an agent.

But if you owe $15,000 or more, the IRS is very, very interested in collecting that money.  When the dollars owed get bigger, the collection agents become tougher.  That is when you need a professional in your corner.  Someone who has years and years of experience working with the IRS.  Someone who knows what they can and will accept in your situation.  And someone who can stop the immediate collection efforts to give you some breathing room while a plan is worked out.

Demetriou, Montano, and Associates - Tax Resolution Specialists, has been the advocate for taxpayers like you for over 30 years.  The following is just one way we might be able to help you, depending on the exact facts of your case.

Short-term 30 to 90 day extensions of time to pay

Short-term 30 to 90 day extensions of time to pay can be granted by the IRS by phone. However, do not necessarily call immediately upon receiving your FIRST notice or letter. The IRS sends a series of notices, and calling the IRS after the first notice can literally accelerate the collection/enforcement process. Waiting to receive the full series of notices and calling only after receiving the Certified Mailed notice could get you as much as three to six months without having to pay anything even before you request a short-term extension.

However, if the Certified notice has been sent, and you ask for a short-term extension, and then fail to pay by the extension date, the IRS can levy banks, wages, etc. Therefore, do NOT make ANY commitments that you can't keep!

If you cannot keep ANY commitment to the IRS by a given deadline date, call the IRS BEFORE the commitment date with an alternative plan. Perhaps you can send a partial payment and the balance in another 30 days. You must keep in mind that penalties and interest continue to accrue until the taxes are paid in full.

We do this type of extension for our clients all the time.  We know exactly when and how to take each step in this process.  Of course, this short term payment solution may not fit your situation at all.  You may not have any possibility of paying the claim in full within a year or even much longer.  We can still help you.  But you need to call.

Our phone consultation with you is at no charge or obligation.  Once we have discussed your case briefly by phone, we will be able to advise you regarding the best possible next step.  Call right now and get some sleep tonight.  888-987-1040 or 310-581-2900


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