Tax Debt Resolution
There are a variety of different tax problems that you or your business may be facing. Here, we'd like to talk about a few of the common types of tax debt resolution that 20/20 Tax Resolution typically provides for individuals and businesses.
Payment Plans
20/20 Tax Resolution will secure a hold on all collection activity once we are retained. We'll have an in-depth look at your cash flow needs and design a payment plan together that you're comfortable with.
20/20 Tax Resolution will then begin negotiating hard on your behalf with tax authorities. Negotiating payment plans is our specialty. We think about your financial future and work hard to make sure you can stay current on your tax obligations.
Offer in Compromise
Many individuals and business are faced with tax debt and mounting penalties and interest. They feel stuck inside their tax debt and feel that they have no options. What if you could lower your tax debt to a fraction of what you currently owe?
If you have a small amount of cash flow relative to your debt and little or no assets, you may qualify for an Offer in Compromise. In these cases, the IRS evaluates your financial circumstances and calculates a sum to serve as a full settlement for your entire debt, possibly saving you thousands of dollars. Contact 20/20 Tax Resolution to see if you are eligible for this resolution. We'll prepare, submit, and negotiate your Offer in Compromise.
Penalty Abatements
Penalties are considered by most tax professionals to be on of the biggest problems facing taxpayers today. The IRS may not tell you about all your options regarding tax penalties, so you may not realize that you qualify for a Penalty Abatement (or reduction of penalties).
You may qualify for a Penalty Abatement if you were victimized by a disaster, death or serious injury of someone in your family, divorce and other domestic problems, a theft or vandalism that restricted your cash flow, or other external circumstances. Contact 20/20 Tax Resolution today to see if you qualify for a Penalty Abatement.
Levy Appeals
Bank Account Levies, State Levies, and Account Receivable Levies are all ways the IRS can seize funds in your bank accounts to pay for your tax debt. These obviously cause major problems for individuals and businesses, restricting your ability to feed your family or carry out business functions.
20/20 Tax Resolution can help you structure a settlement or payment plan that you are comfortable with. We will represent you with the tax authorities, and we'll fight for a resolution that works for you.
