When is the perfect time to request IRS Tax Relief?
If you are at an unfortunate point in life, & find yourself owing the IRS back taxes, there is a solution to help get rid of your IRS Tax Problems.
TLDR;
You are all caught up with your tax filings & are in Tax Filing Compliance
You have corrected past mistakes, such as the right W4 withholding or making ES payments if Self Employed
You are unable to pay the amounts owed in Back Taxes to the IRS.
Most Importantly you are emotionally & mentally ready to take fix your IRS tax problems forever.
When you have an IRS Tax Debt in collections it can be overwhelming, and you might feel like you're in over your head.
However, there is a solution or solutions! There is an IRS tax relief program you may qualify for – but when is the perfect time to request it?
In this blog post, we'll explore the ideal circumstances when you should consider requesting IRS tax relief.
The 4 Steps you must have in order to be ready to Request Tax Relief from the IRS
1. You Should Be in Tax Filing Compliance
The first step to requesting IRS tax relief is to ensure that you're fully compliant with all tax filing requirements. This means filing all past-due tax returns and paying any taxes owed for all years. This is because IRS tax relief programs are only available to taxpayers who are fully compliant with their filing and payment requirements. If you're not current with your filings and payments, it's unlikely that the IRS will consider your request for relief.
2. You Have Corrected All Past Mistakes
Before you request IRS tax relief, you need to take corrective measures to ensure that you don't repeat past mistakes. If you owed taxes in the past due to not having enough withheld, you need to adjust your withholding to the correct amount. If you're self-employed and didn't make estimated tax payments, you need to start making them to avoid future issues. By taking proactive measures, you show the IRS that you're committed to meeting your tax obligations and avoiding future issues.
3. There are unpaid IRS Back Taxes you are unable to pay
If you owe back taxes, and the IRS is coming after you, then it may be time to request tax relief. The IRS has several programs available for taxpayers who are in collections. These include installment agreements, currently not collectible status, offers in compromise, and more. Depending on your circumstances, one of these programs may be a good fit for you. However, it's essential to understand the requirements of each program and what you need to do to qualify.
4. You Have the Mentality to do whatever it takes to fix this problem.
One of the most critical aspects of requesting IRS tax relief is having the right mentality. You should have learned from past mistakes and have the determination to avoid repeating them. This means taking proactive steps, such as adjusting your withholding, making estimated tax payments, staying current with your filings, and seeking professional help if needed. By showing a commitment to fixing past issues and avoiding future problems, the IRS is more likely to view your request for relief favorably.
The perfect time to request IRS tax relief is when you're ready to move on from the past. Owing back taxes can be a significant source of stress and anxiety, and it can impact every aspect of your life. By seeking relief, you can address the issue head-on and start to move on. Whether it's through an installment agreement, an offer in compromise, or another program, seeking relief can help you get back on track and regain control of your financial life.
The perfect time to request IRS tax relief is when you owe the IRS back taxes, are in tax filing compliance, have corrected all past mistakes, have the right mentality, and want to move on.
By taking these factors into account, you can make an informed decision on whether relief is right for you. Remember, the IRS is willing to work with taxpayers who are committed to meeting their tax obligations and avoiding future issues. So, if you're struggling with back taxes, take the first step, and explore your options for IRS tax relief today..
