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Tax Relief
One of the primary functions of the IRS is to collect all federal income taxes. Congress has given the IRS a tremendous amount of authority and power to allow it to fulfill this function. Given these powers and the number of resources available to it, the IRS is one of the largest, most aggressive and successful collection agencies in the world. However, Congress does not allow the IRS to unreasonably harass taxpayers or create undue hardship in pursuit of its collection mission.
As such, the IRS is forced to work with each taxpayer to find a resolution to the taxpayer’s past-due tax liability, based on that taxpayer’s unique and specific financial situation. Therefore, in order to facilitate effective tax collection, the IRS offers several programs to taxpayers with past-due federal income tax liabilities. The purpose of these various programs is to offer different ways for taxpayers to resolve their tax liabilities based on their unique financial situation. Some of the most common programs are the Offer in Compromise, Installment Agreement and Currently Not Collectible Status.
Before the IRS will agree to any of these resolutions, they will engage in an analysis of the individual taxpayer’s financial situation. In this analysis, the IRS will attempt to determine the taxpayer’s reasonable collection potential. By aggressively working and negotiating with the IRS, most taxpayers with delinquent liabilities, can reach a resolution that is correct for them based on their financial information. Ultimately, this system of unique resolutions offers the best tax relief for US taxpayers with IRS liabilities.
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Source: RoniDeutch.com
