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if you’re having difficulty paying back your IRS or State back taxes. Our representatives at New Horizons can negotiate an Installment agreement on your behalf based on your very own financial situation. We have experience with several clients. Every case different with their own special scenarios. Establishing an installment agreement is highly recommended for taxpayers. Having an installment agreement avoids  levies, bank garnishments, liens, seizures. A taxpayer is entitled to choose their payment due date. Staying current with Tax fillings and paying taxes is a requirement. 

The Internal Revenue Service has created what is known as OIC, which is the most common route for Tax Payers in a financial hardship or particular situations. The clients hardship does need to proven to the Internal revenue Service. If you owe  IRS a debt in which you cannot pay back, an OIC is your best resolution strategy. An OIC has to be properly done and submitted to IRS. We will prepare all of the required forms and submit them for you. Verification of qualified taxpayer is reviewed before submission. The Time frame for a OIC is typically 4-8 months, depending on case and clients cooperation with documentation. If the IRS approves your OIC you will paying lesser amount on the balance due, with a final payment to conclude your offer. 

The Internal Service created a program for Taxpayers who owe less than $50,000 to help them pay back their tax debt. This program helps consolidate the collection process of Tax debt between both parties less stringent. Their program structures are set up to save the Taxpayers an appealing amount in tax debt. There are specific guidelines to follow and it is highly recommended that a licensed professional handle all the entire process of negotiation on the debt owed. 

The IRS has another appealing program for Taxpayers who aren't able to pay back their Taxes. There are taxpayers who are in financial bind and are struggling financially. The programs name state what it offers. A taxpayer will need to fill out forms to show that they are in a financial hardship and are not able to pay back. If you can property show that your expenses over exceed your Monthly Income, this signifies a Financial hardship. Or if you have no actual assets worth levying  The IRS will stop any collection of taxes or penalize you. Interest will continue to accrue on your balance. The IRS will place your account on hold until you are able to financially set up another form of resolution. The IRS does require to file new forms every year to show the current financial situation. 

By definition with Internal Revenue service, if you can prove that you are an Innocent Spouse or Ex-Spouse. You may not be subject to a Tax debt owed by another person. A specialized team is advised to gather all  evidence and documentation needed and presented to IRS and then relieve you of tax consequences that do not pertain to you.

For most cases when owing Tax debt, interest and penalties are an important part of the process. Penalties are accrued by either not filling or not paying taxes. These are the most common and they can be removed or even in some special occasions penalties and interest can refunded. There has to be a reasonable cause to be removed. IRS has several scenarios, and may be willing to review a file to see if removal is granted. A Form 843 will need to be filled out. We recommend that you have paid your full tax liability in full before submitting a proper written abetment.