IRS Tax Solutions in Palm Beach Florida
Palm Beach Tax Group makes it a point to educate our clients about the many possibilities made available to taxpayers to resolve an IRS tax problem. A taxpayer must be in compliance, or up to date with all tax filings and payments, before the IRS will consider any resolution solution. We have the experience needed to navigate the many tax solutions allowed by IRS rules and regulations, including:
- Installment Agreement: A contract between the taxpayer and the IRS where the taxpayer agrees to make regular monthly payments to the IRS. It can be a full pay agreement or a partial pay agreement.
- Offer in Compromise: An agreement between the taxpayer and the IRS that allows the taxpayer to settle their tax debt for less than the amount owed. There are certain requirements necessary tofor an Offer in Compromise. The IRS has up to two years to accept or reject an Offer in Compromise.
- Penalty Abatement: An IRS program where the IRS removes some or all of the accumulated penalties from the tax debt. A taxpayer must provide reasonable cause as to why the penalty should be abated.
- Innocent Spouse Relief: An IRS tax relief program through which a spouse can claim ignorance of an understatement of due taxes. There are other situations where a spouse may claim an injured spouse, or prove the tax liability belongs to the other spouse.
- Currently Not Collectible: Known as a CNC agreement, this resolution works well for taxpayer who are experience economic hardship.
IRS Appeals: When a taxpayer disagrees with the assessed tax debt amount or an IRS’ determination, the taxpayer has appeal rights which will allow a second opinion.