Taxes can be confusing for most people and while they can be messy, handling them wrong can have severe consequences. Fortunately, now there are professional services that can help tax payers navigate through this confusing maze, especially if they are behind on their bills. These are Tax Resolution services. Their goal is to minimize what you owe to the IRS as much as possible.

While it is clear that a tax resolution is needed when an individual or business hasn’t reported enough income, has underpaid or didn’t file a return when they should have, many individuals still don’t have a clear idea what exactly falls under it. Let’s find out.

What is Tax Resolution?

Tax resolution is the process of working with tax professionals to find a solution to your tax problems. It is an umbrella term for services that aid taxpayers when they run afoul of the IRS. The IRS may find problems with your tax returns in a number circumstances: when you have complicated tax returns, a tax controversy or outstanding taxes for several years. In such cases, the IRS might audit you to verify you are reporting the appropriate amount of income and claiming legitimate deductions. A tax resolution representative will analyze your financial information to determine exactly what resolution you qualify for.

Ignoring the IRS will only escalate the situation to the point of them sending IRS officers to your door. And believe us, you don’t want that. Here are some of the instances tax resolution can help you with.

Times When Tax Resolution Can Help You

Transcript Protest

Don’t believe the IRS every time, it makes mistakes too. Sometimes the IRS believes that you made more money than you actually did, or it includes the income from an ex-spouse or a former business partner with your income. In such a case, a tax resolution professional can present evidence, in the form of a transcript protest, to help you make your case.

Audit Representation

The IRS can audit you if they find something doesn’t add up with your taxes. Don’t panic, instead hire a professional to help put together an audit defense to stay rest assured that the results of the audit will be as accurate and fair as possible.

Tax Penalties

If you haven’t paid your taxes in a while, the IRS will charge you with interest. Fortunately, sometimes business or individuals are allegeable for penalties.  A tax resolution representative can help you determine if you’re eligible for tax penalty and will help you through the process.

Non-Collectable Debt

What happens when the debt you owe to IRS is too much? Do you have to choose between a roof over your head or getting rid of that debt? No, you don’t. The IRS does offer a form of relief when you can’t pay your tax debt, known as “Currently Not Collectible”. A tax resolution professional will help you see if you qualify for it and explain you the benefits and drawbacks of using it.

These are just a few circumstances that fall under tax resolution, in reality it can save you from a lot more trouble. Be smart and contact Mindful Tax Consulting, now. Our financial professionals will help you resolve the gravest tax circumstances in no time. Contact us through our website.