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A professional tax firm is announcing its new tax debt negotiation service to taxpayers in need of resolving unpaid back taxes to the IRS.
Bakersfield, CA (PRWEB) March 02, 2013
CTR’s Avalon tax attorney is pleased to announce to California taxpayers the launch of a new tax debt negotiation service. Individuals who are in debt to the IRS from these unpaid taxes can take advantage of this new service to settle their balance quickly and easily.
“This new service will make tax debt repayment options clearer to our clients,” a CTR spokesperson said. “We will be able to better explain the different programs the IRS has for tax debt resolution and which one would be best for their particular financial situation.”
CTR’s Azusa tax attorney has recommended to taxpayers in California that an important course of action to take is to hold on to returns and paperwork for three years. This will help tax professionals get a clear picture of the individual’s finances and obligations, allowing them to provide better advice.
CTR is aware that there can be many reasons for tax payments to be missed. Regardless of the reason, the new program involves a straightforward assessment of all finances. This will help the company’s tax experts choose from the IRS’ main resolution options: Installment Agreements, Offers-In-Compromise and Currently-Non-Collectible Status. Tax professionals such as a Bakersfield tax attorney can explain these to a California taxpayer in terms applicable to their specific situation.
CTR’s clients that are in or near financial hardship are advised to consider applying for a Currently-Non-Collectible status. Financial hardship occurs when a taxpayer has an income less than their monthly expenses. The IRS cannot collect on debt if the payments would cause financial hardship. The important responsibility for an individual desiring to be considered for this status lies in accurately reporting their expenses and earnings to their tax expert.
CTR’s tax professionals offering this new service are knowledgeable about the different types of Installment Agreements and how they can benefit the taxpayer. An individual in California looking to gradually repay their debt can work with a Baldwin Park tax attorney to determine which program will provide the best debt resolution option, whether it includes making room for other financial obligations or requires a discount on the total balance owed (such as in a Partial Pay Installment Agreement).
If a taxpayer cannot pay the full balance and a Partial Pay Installment Agreement is not the best option, the IRS may be willing to settle on an Offer-In-Compromise. This repayment option is an agreement between the taxpayer and the IRS in which the individual pays what they can afford and in return, the IRS greatly reduces the total amount owed. Once the payment has been made, the taxpayer is released from their liability.
“We want to see our taxpayers get their debts settled,” said a CTR spokesperson. “We are excited to see this new service make debt resolution easier, satisfying the IRS and our clients and bringing us to a new level of success.”
CTR offers tax debt resolution and tax services for individuals and businesses across the United States. The company uses a three step program to create personalized strategies to help taxpayers settle their IRS debt. The company offers many services, including: state and federal tax debt resolution, IRS audit defense, tax preparation and bookkeeping.
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