Filing taxes is a process for many hard-working individuals. For some, it is as simple as filing an EZ 1040 tax return, but for others, the process is far more complicated. To err is human, so it is to be expected that a person might make a mistake on even the simplest of returns, let alone a complicated one. As such, you may find yourself owing the IRS money. In certain situations, working with a tax resolution specialist might be your best solution, but you need to know when that is a necessity.
Your Debt to the IRS is a Lot
It is estimated that roughly 80% of Americans may have made a mistake on their 2018 tax returns, which were filed in the earlier part of 2019. A GOP tax bill passed in the latter part of 2017 required taxpayers to make changes to their W-4s, especially those with dependents and itemized deductions. Unfortunately, many people failed to update their W-4 forms, which may mean there are several people who will end up owing the IRS money.
Some individuals were shocked to find out just how much they owe the IRS, with one couple reporting an amount of $10,160 owed. If you find that you are in debt to the IRS for a lot of money, it is best to reach out to a tax resolution specialist. The IRS is usually far more aggressive about collection when people owe more than just a few hundred dollars, which can create panic and agitation. A tax relief professional can handle the situation in a calm manner and may even be able to negotiate a lower amount owed.
You Can't Handle It Yourself
There may be many reasons why you feel as though you can't handle tax situations on your own. Perhaps the thought of speaking with an IRS representative frightens you. Maybe you suffer from anxiety or panic attacks. Whatever the case may be, if you feel that direct communication with the IRS will do more harm than good, it is better to have a tax resolution company handle the communication for you.
In some cases, people who are unable to handle speaking with an IRS representative may handle the situation in a negative manner. You might say something that you didn't mean to say, which can present a foot-in-mouth situation. Rather than running the risk of making things worse, a resolution expert can convey all forms of communication in a professional and easy to understand manner.
Your Case Is in Collections
If you receive notification that your account is in the Automated Collection System, it is better to allow a tax resolution company to handle the matter. Accounts placed for collections usually mean aggressive action. Just like you, many IRS workers are only human, and they may come off sounding too harsh when communicating with you. Resolution services provide you peace of mind by ensuring that your case is handled fairly and with respect.
Also, having a resolution representative work on your behalf may allow for negotiations to take place. Whenever you owe money to the IRS, particularly a large amount of money, it is best to have someone negotiate the amount down to a lower dollar value. At the very least, a professional may be able to negotiate payments that are affordable for you based on your unique situation.
If you are interested in learning more about tax resolution services, contact a tax service like Inside Out Tax Resolution Services near you. An expert can answer any questions you might have to help you determine if a resolution service is the correct approach based on your tax situation.
