Two Ways to Abate Tax Penalties

Written by admin on . Posted in Irs debt relief, Tax lien help, Tax relief help

Irs back taxes help

In 1862, Congress enacted the first income tax, which was found unconstitutional a few years later. By 1913, Congress corrected that error with the 16th Amendment, giving them the freedom to tax income however they pleased. Since then, they have created the Internal Revenue Service, or IRS, as a multiheaded hydra that enforces arbitrary and draconian punishments. Such tax penalties as property liens, wage garnishments, and others can ruin lives and destroy families. There are ways to circumvent these tax penalties, though. By working with an attorney or directly with the IRS, you can avert tax penalties and get help with back taxes.

What are some of the tax penalties you could receive? One is a property lien. This is when the IRS determines it owns equity in one of your assets, and will remove this claim only when you pay taxes. Yet another punishment is wage garnishments, where the IRS forces an employer to withhold part of a paycheck for them.

What are some strategies for getting rid of tax penalties? One way to abate or avert tax penalties is through a tax attorney or another professional. Quite often, these professionals can help you stop IRS wage garnishments or remove tax liens. In many cases, the IRS does not have access to all of the facts, and may not even understand aspects of tax law. As such, they impose improper penalties. Working with an outsider, you can have the law checked against the facts, and see if the IRS acted improperly.

If you determine you need back tax relief, and are sure you do owe taxes, you can have an offer in compromise, or OIC. Offered under 26 U.S.C. § 7122, an OIC lets you pay the IRS in installments according to a prearranged plan. In exchange, the IRS will either write down some debt, or may even forgive the remainder of the balance. This is a great way to avoid further tax penalties.

Failure to pay tax penalties are the biggest reason people get further in the hole with back taxes. If this is you, get back tax help now. Call either a tax professional or the IRS.