If you owe far more in back taxes than you’ll ever be able to repay, it might seem like all hope is lost. However, there are tax settlement options that could ease your burden and help you move forward on firmer financial ground. The most desirable, of course, is complete IRS debt forgiveness. However, because the government really does want to collect what you owe, it won’t be easy to secure an IRS settlement that results in you owing absolutely nothing. You’ll need a skilled specialist by your side to negotiate the settlement. In and around Richmond, you can put your trust in Taxation Solutions, Inc. Contact us at (804) 451-3974 today to discuss your tax problems!
The following considerations will be taken into account when determining your eligibility for IRS debt forgiveness:
- Has the statute of limitations run out for collecting on your debt?
- Are your financial circumstances so dire that you’re unable to pay what you owe?
- Have you gone through Chapter 7 bankruptcy proceedings?
You may qualify for a status known as Currently Non-Collectible, or CNC. In this instance, tax debt reduction or forgiveness can go from a dream to a reality. Of course, there will be other financial fallout. Taxation Solutions, Inc. can walk you through the process and the consequences. Our licensed and insured tax resolution experts are ready to schedule your initial consultation.