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Types of Tax Relief Solutions Millions of people every year get a bill from the IRS for a tax debt they didn’t know about and that is an unpleasant surprise. It could be hundreds to thousands of dollars that many simply don’t have. Tax relief solutions are offered by the IRS that can help people that don’t have the money to pay back right away. One tax relief solution that can be used in some cases is called not collectible status. Not collectible status helps those that are being garnished of wages or that have liens on their properties. Having wages being garnished can be a financial nightmare for people that already aren’t sure how to pay their bills on time. Property liens on homes and properties can be quite upsetting as that is quite often where a person calls home. The not collectible status can ensure that you don’t lose your home or important property due to tax debt liens. This type of status approval is often best achieved with a qualified tax attorney to assist. Many find that not collectible tax relief solutions will give them time to get their finances under control. IRS tax debts are subject to a ten year statute of limitations in which they are not collectible after that ten years has lapsed. Another tax relief solution that can be helpful is to use a payment arrangement. A payment plan is often appealing to people that can budget a monthly payment versus a lump sum amount. This can happen for you if you take the time to fill out the proper paperwork at the website or send it in the mail and pay their nominal application fee in addition to this. If approved, they will offer various payment options that are convenient to you. A smart method for payment is the automated bank withdrawal because it will be paid on time and you won’t have to worry about whether you have paid it or not. Last last tax relief option to be discussed is called an offer in compromise. The offer in compromise is when there is a payment for less than what is believed to be owed and the IRS settles for that lowered amount. The offer in compromise option is often the hardest one to get approved as they require proof of insolvency or financial distress. They may also approve this type of solution if you can show that you likely owe less than what they have billed. It is a great tax relief solution for those that can get it as it can save thousands of dollars. The IRS tax relief solutions above can make it possible for you to get out of debt faster and find a solution that works for your financial situation.What I Can Teach You About Options

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