Taxpayers should know that an IRS settlement program allows you to settle outstanding IRS or state tax liability for a lesser amount. Moreover, it allows you to have back tax reduction along with relief against collection actions. Clearly, it is your way to a fresh financial start. For many, it can be complicated to navigate the IRS settlement program. If you want to do it successfully, let LifeBack Tax Relief be by your side.
What Is An IRS Settlement
Often referred to as an Offer In Compromise (OIC), an IRS settlement is a legal agreement between a taxpayer and the IRS. If you are an eligible taxpayer, you should know that the IRS settlement can help you settle your tax debt for less than the full amount that you owe. Clearly, IRS settlement is a much-needed relief for taxpayers facing overwhelming tax liabilities. At LifeBack Tax Relief, we have settled back taxes for as low as only $1.00 for many of our clients. In fact, we have a stellar average of our clients only paying about 5% of tax debt that they owed to the IRS.
Aside from Offer In Compromise (OIC), Partial Pay Installment Agreement (PPIA) is another form of IRS settlement program. It allows you – the taxpayers – to be on a small monthly payment plan. The duration for this is until the tax liability expires through the Collection Statue of Expiration Date (CSED). Because this helps save money once the debt expires, you can call this the back-end settlement program. You should know that when it comes to Partial Pay Installment Agreement (PPIA), you are longer with the collection department – all enforced actions stop.
Benefits Of An IRS Settlement | |
Back Tax Settlement | The IRS settlement makes it all go away! After all, it significantly reduces the total amount of tax debt that you owe. |
Financial Relief | It allows you to regain financial stability. Undoubtedly, the IRS stops collection actions – wage garnishments & levies – upon acceptance of the offer or PPIA. |
Fresh Start | It offers you a fresh chance to rebuild your financial future. Thus, with the IRS settlement program, you can start from a clean financial slate. |
LifeBack Tax Relief offers top-notch services to help settle tax liability with the IRS. If eligible for the IRS settlement, all the federal tax liens will be released.
How An IRS Settlement Works
There are various factors that define the eligibility for an IRS settlement. For example:
- Taxpayer can demonstrate the inability to pay full tax liability
- Fulfillment of compliance with filing of current tax returns
- Occurrence of financial hardship or exceptional situations
For initiating the IRS settlement process, you start by submitting a request to the IRS. Clearly, the understanding of how the IRS settlement process works can be complex. Thus, most taxpayers do not understand the tax laws, codes, and or the financial disclosure required to receive tax settlement. In such a case, the best option is to hire a third-party tax professional firm – like LifeBack Tax Relief. Undoubtedly, we can help facilitate, educate, and present your case. We will easily increase your chances of receiving an approval by the IRS or state authority. So, for an easy acceptance process, let us be by your side
How Lifeback Tax Relief Can Help
At Lifeback Tax Relief we understand the stress and complexity of the IRS settlement program. We skillfully negotiate with the IRS to secure the best possible outcome striving for maximum debt reduction and relief from debt and collection actions including wage garnishments and bank levies.
We ensure compliance with all legal requirements and codes throughout the settlement process, providing you with the peace of mind you deserve.
Don’t let tax debt define your financial future. Contact us today to explore your options, and find the relief you need. Book a FREE consultation right away to determine if an IRS settlement is the right solution for your tax debt challenges.
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