Types of Tax Relief LifeBack Tax

Types of Tax Relief - LifeBack Tax

Tax relief refers to anything that reduces the amount of taxes owed by an individual or a business, especially in the case of federal or state income taxes. Tax relief includes reduction of taxes owed for the current tax year, as well as reduction of tax debt owed from prior tax years. Tax exemptions, tax deductions, and tax debt forgiveness are all different sources of tax relief. Each year, the government provides tax relief through various tax breaks, allowing qualifying taxpayers to reduce their tax liability depending on certain financial factors.

Most taxpayers receive tax relief by claiming tax breaks on their tax returns, such as deductions, exemptions, and credits. Tax deductions provide tax relief by reducing a taxpayer's taxable income by a certain amount, based on certain types of expenses. This reduces the amount of income that the government may collect tax on at the highest applicable tax bracket, indirectly reducing the taxpayer's overall tax liability. Tax exemptions also reduce a taxpayer's taxable income, based on the type of income received. On the other hand, tax credits directly a taxpayer's tax liability by a certain amount. The average taxpayer may potentially be unaware of tax breaks which they qualify for, resulting in a lower tax refund or a higher tax liability than otherwise.

In the case of back taxes, tax relief may take the form of tax debt forgiveness. Taxpayers with unpaid federal taxes may choose to negotiate a settlement with the IRS through the Fresh Start program. Depending on their financial situation, taxpayers may qualify for an Offer in Compromise, an agreement in which the taxpayer may settle their debt to the IRS for less than their original liability. The remainder of their tax debt is forgiven as a form of tax relief. Taxpayers who owe state back taxes may be able to similarly negotiate a settlement with their state tax authority, depending on state laws.

If you are currently in need of tax relief for current or past due taxes, we at LifeBack Tax Relief are here to assist. We are well-versed in federal and state tax legislation, and can help you identify any missed tax breaks. We will represent your interests before the IRS or your state's tax authority, and negotiate a fair settlement to ensure that you receive the tax relief that you need.

Fast and Easy 4 Step Tax Relief

Step 1

Tax Investigation determin your tax liability

Step 2

Retrieve all documentation from the IRS

Step 3

Calaculate tax liability and current ability to pay

Final Step - Execute offer in compromise get your Life Back

IRS Tax Resolution - Get your Life Back

The fast path to tax resolution can be yours and you can get back to your life. We have a 4 step process that's easy for you. Don't worry about the State or IRS we take care of everything for you. We collect your data, contact the tax agency for you. We handle all negotiations to the tax debt entity so you don't have too. Within 24 hours we stop the wage garnishment or levies so you can focus back on your life.

Get your life back today, move on, go out have some fun let us handle all your worries with your tax debt. Our trained professionals will get that tax settlement for you and you'll be happier for it. At LifeBack Tax our job is your complete satisfaction.

Start Now Settle Now

Why put off what you can do today. Some customers have been putting their tax debt off for years. There is no reason, you have rights. We understand that a bank levy, or wage garnishment can have a severe impact on your life. It can be quite devastating trying to pay all your bills and feed your family while you are being levied or garnished. LifeBack Tax stops all that within 24 hours. Get the IRS off your back today, you have rights and we will represent them and make this as fast and painless as possible for you.

What are you waiting for this is your one opportunity to act now and take your life back. Let the experts at LifeBack work for you and settle this for you once and for all.

LifeBack Tax

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Certified by The American Society of Tax Problem Solvers
Certified by The American Society of Tax Problem Solvers
Certified by The American Society of Tax Problem Solvers

Member of California Society of Certified Public Accountants
Member of California Society of Certified Public Accountants
Member of California Society of Certified Public Accountants

Member of National Association of Enrolled Agents
Member of National Association of Enrolled Agents
Member of National Association of Enrolled Agents

Member of California Society of Enrolled Agents
Member of California Society of Enrolled Agents
Member of California Society of Enrolled Agents

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