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Top 4 Benefits Of Working With A Professional Tax Relief Firm

Having a tax debt is becoming a bigger problem for more and more Americans. In recent years, the IRS has filed many more tax liens and levies against people who owe money to the government. The IRS issued more than a million Federal tax liens in 2011. It was 145% more than a decade before.

Most of the time, the IRS doesn’t give up when collecting tax debt. People and families often have to struggle with a lot of stress and pressure, which can be too much to handle. Anchor tax relief can be a huge help when dealing with the IRS (or other State Tax Authorities) about back taxes owed or a wide range of other tax problems. Listed below are the top ten reasons why you must work with one of these groups.

1. Highly Skilled

One of the primary things about using a tax relief company is that they have many people with different educations who can help you. By having a wide range of experts (like lawyers, CPAs, and other specialists) who know how the IRS works, they can put that knowledge to work for you to help you reach the best possible settlement or solution for your tax problems.

2. Offers in Compromise

Penalties and interest often increase the total amount you owe the IRS, which may involve more than one tax period or issue. The penalties and interest are added to your account automatically by their computer system, but you may not have to pay the extra fees.

A professional anchor tax relief company can look at your situation and, depending on why you owe the money, make an offer in a compromise. They can often get these fees taken off the total amount they owe. It also applies to the interest that builds up on your balance, which can add up over time.

3. Penalty Abatement

Penalties and interest often increase the total amount you owe the IRS, which may involve more than one tax period or issue. The penalties and interest are added to your account automatically by their computer system, but you may not have to pay the extra fees.

A professional tax relief firm can look at your situation and, depending on why you owe the money, make an offer in a compromise. They can often get these fees taken off the total amount they owe. It also applies to the interest that builds up on your balance, which can add up over time.

4. Innocent Spouse Tax Relief

The innocent spouse rule is a part of U.S. tax law that was last changed in 1998. It allows a spouse to avoid paying penalties because their spouse didn’t pay enough tax. The rule was made because spouses sometimes needed to tell their partners the truth about their finances.

The innocent spouse rule says that a taxpayer doesn’t have to pay taxes because their spouse made a mistake on their joint tax return. Most of the time, the error is a missing income or an overstated deduction. A taxpayer must fill out IRS form 8857 to ask for help, but it’s easier to fill out these forms correctly with a tax relief professional.

Conclusion

Many people find it very scary and intimidating to deal with the IRS and State Tax Authorities, but it doesn’t have to be that hard. There are many ways to reduce or even get rid of the debt you owe, but trying to do it on your own cannot be easy. Most of the time, your best bet is to work with a tax relief company. These skilled and knowledgeable people can help you do everything you need to do to solve your tax problems once and for all.