IRS Tax Help

A checklist makes sure that you have everything you need when it's time to pay taxes. The process will not be nearly as troublesome because it is simplified by the checklist.

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As the IRS starts to crackdown extensively on delinquent taxpayers, more and more people are dealing with IRS tax problems. IRS issues can be costly, complicated, and overwhelming, from excessive tax debt to unexpected penalties. The IRS has an army of employees eager to get your money. You can safeguard your earnings by escaping harsh fees with the services of a Tax Specialist and some basic knowledge of taxes.

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No matter if you have the best attorney on the planet or you handle your IRS Problem matter yourself, there are certain things you must do before your IRS Problem can be solved. Here is a summary:

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If you owe back taxes the IRS is constantly adding on interest and penalties to your balance. Your debt will grow about 2% per month in combined interest and penalties, adding nearly 24-25% to your balance every year. If you owe $10,000, after one year your debt grows to $12,400. Worsening your plight is that the IRS applies any payments or refunds to interest and penalties first, causing the "principle" of your tax debt to be reduced more slowly. This is one reason installment agreements are so expensive. Your payments are applied to principle and interest first, but the principle and interest continues to compound each month you are in the installment agreement. Consider these possible solutions:

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The chances are good each of us will have a problem with the IRS at least once in our lifetime. Nearly everyone faces an audit, receives a bill for back taxes or has some other serious problem with the IRS. When it's your turn, it's important to understand how the IRS is organized and how best to navigate through the maze. Filing your tax returns and paying your taxes on time, in other words, "staying current" will keep you ahead of the curve. However, despite best efforts and circumstances, many people find themselves in tax trouble and get an up close and personal encounter with the IRS. In this game though it's not just a matter of how you play, you also need to win. "Winning" means keeping your income and assets (or at least minimizing their loss) and staying out of jail.
A key advantage to finishing on top when dealing with the IRS is knowing the rules and abiding by those rules. One of the greatest advantages a taxpayer has in dealing with the IRS is that the IRS publishes its "rules." Not only that but the IRS literally "scripts" how every contact with a taxpayer is to be handled. You can know what action the IRS is going to take next in handling your case. All you need to do is a little research. Further, the IRS will explain to you what steps you have a right to take with each notice or contact they have with you. It is the only situation in life where the opposing side will give you the "playbook" for your specific circumstances. With these advantages however, comes severe and swift punishment when the rules are ignored.
There are tightly defined deadlines for responding to IRS correspondence and exercising your rights as a taxpayer. When you ignore their inquiries and allow these deadlines to pass due to inaction you "turn the tables" that were once in your favor back in the IRS' favor. Additional tax assessments, penalties and interest then start to accrue on your tax bill. Now you are at risk of tax liens, wage levies and property seizures. The worst thing you can do is repeatedly ignore IRS correspondence. If you are fearful or uncertain in your dealings with the IRS hire a qualified tax professional to represent you in the matter. A qualified representative can help you preserve your taxpayer rights, maintain the advantages you start with and save you thousands in needless interest and penalties, and help you sleep better at night. Allowing you to finish on top when dealing with the IRS.

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