If you owe back taxes, you’re going to need a helpful, professional service. This includes either you are dealing with IRS tax liens or state or local taxes. Whether in Kansas or Missouri, local professionals in tax mediation in Kansas City can help you settle all outstanding debts and claims. However, this is usually an intricate and detailed process that requires a consultation. Tax professionals will analyze and assess the situation, while offering a range of timely and helpful solutions.
From tax audits and wage garnishment to bank levies, area professionals can present a range of services for new and existing taxpayers. This includes “offer in compromise” services, which are agreements between taxpayers and the IRS to settle debts and liabilities for less than the full amounts owed. These compromises, however, must be agreed upon by all parties involved.
There are several benefits for taxpayers in an offer in compromise. For one, you can literally pay pennies on the dollar for outstanding federal or state tax debts. With these services, however, you must meet certain criteria and conditions. This includes economic hardship, medical problems, or other issues that restrict your means of paying these debts in full.
Area tax advisors can also help advise customers about installment plans for outstanding debts. This includes monthly or quarterly plans, which help you pay principal as opposed to interest. If you are able to make these payments, you will not qualify for OIC (Offer In Compromise) services. If you are unable to make payments due to financial constraints or restraints, local tax professionals can help you with timely offers to the IRS or state revenue departments.
Tax mediation is one great way to resolve debts and secure timely relief. However, you must work with a licensed and dedicated team of tax settlement professionals. They would have the tools and expertise to help you pay what you owe without leaving you out of pocket or in further debt.