IRS Back Taxes Settlement for Houston Taxpayers
Much like the infamous Houston traffic, it’s common to feel trapped when it comes to owing back taxes to the IRS. Though, it is important that you know you are not alone. Surprisingly, many Texas citizens will owe IRS back taxes at some point during their lives. Of course, you must pay your back taxes, otherwise the IRS will continue to tack on hefty penalties, and even issue collections against you in the form of wage garnishments, bank levys, and tax liens.
Although the IRS has extensive power, they do have limitations. We know the Internal Revenue Code extensively and can use this knowledge to your advantage. This is how we’ve helped hundreds of Texas and Houston area taxpayers settle and even reduce their IRS back taxes and penalties. Houston Pure Tax has an experienced team of licensed tax attorneys and enrolled agents that can qualify you in a convenient IRS back tax relief plan:
Installment Payment Plans
Most Americans with IRS back taxes can't afford to pay their outstanding back taxes in lump sum if it ranges in the multi-thousands, but the IRS does offer installment plans where you can pay off your back taxes through negotiated monthly payments. To pursue this, you must have a seasonsed tax professional advocating for you to negotiate an ideal amount that fits your financial lifestyle.
Offer In Compromise (OIC)
You may qualify for an offer in compromise, which is where the IRS agrees to accept a fraction of what you owe as full and complete settlement of your back taxes. Contrary to what you may have heard, an OIC is not available to everybody. It is important that you meet with a licensed tax attorney to know if this is truly right for you.
Currently Not Collectible Status (CNC)
A currently not collectible status puts a short-term hold on all collections and may become permanent if there is no change in your income or assets. In some cases, we have even extinguished 100% of clients’ back tax bills by securing a CNC determination.
Pursue Professional IRS Back Tax Help Today
Oweing back taxes is a very slippery slope, but you should be encouraged to know we have the ability to end your back taxes through convenient settlement programs. Contact us today, we are available to speak with you to discuss your options for IRS back tax settlement. Free consultations.
The Houston Pure Tax team