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3 best times to consider tax relief

Tax relief services can help you deal with the IRS when you are unable to meet your tax obligations.

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Tax season is in full swing. And while most filers will likely receive a refund this year, there will undoubtedly be a percentage of filers who owe money to the IRS. But even if you anticipate owing more money to the IRS than you can afford to pay, it’s still worth it to file your tax return on time to avoid additional penalties.

Again, being unable to pay your tax debt is a stressful situation. Although the IRS may be willing to work out a payment plan for you, there are times when it is wise to seek further relief through a tax relief service. Below, we’ll detail three of the best times to consider this type of service.

Don’t risk garnishments and other actions. Contact a tax relief professional today.

3 best times to consider tax relief

“Tax debt relief services negotiate a settlement with the IRS for payment of the debt, usually for less than the total amount owed,” says Paul T. Joseph, attorney, CPA and founder of Joseph & Joseph Tax & Payroll, a tax firm. and accounting firm. “It goes without saying that an unpaid tax obligation can pose a tremendous burden to an individual.”

So when to seek help? Here are three of the best times to consider tax relief:

When you encounter financial difficulties

Financial difficulties arise, and they are often sudden. Perhaps you recently lost your job, were injured, or were diagnosed with an illness that makes it impossible to complete your daily tasks at work. As a result, you may not be able to meet your financial obligations, including paying your tax debts on time.

Unfortunately, missing your payments usually results in penalties. But one tax relief company might be able to help. Even if you have already missed payments, a tax relief service may be able to help you get your late fees and other penalties waived.

Let a tax relief expert help you navigate the IRS’s financial hardship options now.

When you make sacrifices to pay your tax debts

Making sacrifices to cover your tax debts can be familiar. Again, when these sacrifices become extreme, it’s probably time to call in a tax relief professional. For example, you may have neglected needed repairs to your home or car or skipped several payments on loans or credit cards in order to meet your existing tax debts. If so, you should seriously consider request tax relief.

When you risk garnishment on your wages

The IRS does not need to go through the court system to garnish your wages. This can cause you to fall too far behind on your tax debt. If so, wage garnishments generally remain in effect until you pay the overdue amount, make arrangements to pay your overdue amount, or the levy associated with your wage garnishment is otherwise discharged, according to the IRS.

If you’ve missed multiple installment payments or haven’t paid your tax debt at all, you could be at risk of wage garnishment. If so, it’s probably wise to look into your tax relief options, as these services can generally mitigate the risk of garnishment.

It’s also worth noting that if your wages are already garnished, it’s not too late to get help. The best tax relief services may be able to stop your garnishments while helping you reach an affordable payment agreement with the IRS.

The essential

Tax debt can be scary. “If taxes are not paid, the IRS will start by sending notices in the mail,” Joseph says. If the notices are not verified, the IRS may take additional action. “This can include seizing your assets, placing liens on your property, etc.,” Joseph explains. But you may be able to avoid these repercussions by working with a tax relief service.

If you are experiencing financial hardship, making significant sacrifices to try to pay your tax debt, or are at risk of wage garnishment, contact a tax relief expert today.

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