Tax Debt Relief Programs
Penalty Reliefs Available for Taxpayers
The penalty relief programs available for all American taxpayers struggling to pay back taxes are not a scam. However, be cautious as there are many scammers pretending to be the IRS and demanding payment forcibly. The number one question during our 1-1 consultation, is if the Tax Relief Fresh Program actually helps reduce back taxes. The short answer is, yes. The IRS designed such programs to help American taxpayers going through any financial difficulty that results in struggling to pay back taxes.
At Global Gate in Irvine, California, we are well aware of the challenges of managing tax debt and the impact it can have on your financial well-being. That’s why our tax debt relief professionals are dedicated to helping you explore tax debt relief programs that provide resolutions to your outstanding tax liabilities. Our experienced team of professionals is dedicated to providing personalized solutions tailored to your specific situation.
Whether you are struggling with tax payments, facing penalties and interest, or dealing with collection actions, our tax consultations are designed to help you navigate through the complexities of tax debt and find a path toward financial freedom. Trust Global Gate to provide you with the expertise and support you need to achieve relief from your tax debt burdens. Learn more about available relief programs and contact us now to get started!
Why Struggling Taxpayers Look into Tax Relief?
Struggling financially enables the American taxpayer to leverage the Tax Relief Fresh Start Programs available by the IRS. Although the taxpayer could proceed with fixing the current tax back situation, working with a tax relief specialist will enable the taxpayer to leverage the expertise of communicating directly with the IRS. Aside from communication, a tax relief specialist will help negotiate on the taxpayer’s behalf to potentially reduce the tax back balance to a reasonable amount and payment plan.
You no longer have to worry about long, sleepless nights when tax relief programs can help you create a customized tax roadmap. If you dread going to your mailbox, knowing there will be an IRS envelope waiting for you to open, Global Gate can help. We bet you’ve made an effort to solve this on your own, but the complex tax code you need to become familiar with is just too difficult to understand.
Believe it or not, as a taxpayer you have the privilege to apply to certain tax debt relief programs that the IRS made available for you. You can finally take control of your back taxes so that you can begin planning your future without the unpleasant tax debt hanging over your head! At Global Gate, we specialize in tax debt relief programs and have helped thousands of taxpayers who have encountered financial difficulties. Many of our clients experienced insecurity and hopelessness prior to seeking our tax debt assistance!
What is the IRS Fresh Start Program Initiative?
The IRS Fresh Start Program Initiative is designed to help the American taxpayer reduce or settle for an outstanding tax liability. Back in 2009, the IRS estimated that American taxpayers owed up to $83 million in back taxes to the Federal Government. Fast forward to 2022, 36,022 taxpayers have applied for Offer in Compromise to settle outstanding tax debt than the full amount owed. The IRS only accepted about 13,165 totaling more than $234.3 million. That’s why it is important to understand the basic logistics of the programs to potentially reduce your outstanding balance with the IRS.
Struggling to pay back taxes is more common than you think. Due to the Coronavirus pandemic over ten million Americans owe more than $120 billion back in taxes, penalties, and interest in 2022 according to Investopedia.
Our tax resolution services are designed to help you towards a better financial situation. We want you to take a step back before considering requesting a tax relief consultation. We would like to educate you with a basic understanding so that you are aware of how tax relief programs work and the options available to you. This way, you feel prepared for your conversation with one of our tax relief professionals.
The IRS tax debt relief program is meant to be a tax debt assistance for taxpayers during financial struggles. These tax debt relief programs are meant to help individuals with unfiled tax returns, back taxes, wage garnishment, tax liens, and tax levies. Whatever your situation, there is a solution that will help pay through installments and put an end to late penalty fees.
6 Penalty Relief Programs for Taxpayers Struggling Financially
Let’s now cover more in depth the available programs within the Tax Relief Fresh Start Program, which includes the Installment Agreements, the Offer in Compromise, Currently Non-Collectible Status, Penalty Abatement, and Tax Lien Withdrawal.
Currently Non-Collectible Status
Currently Non-Collectible is an agreement from the IRS to put a hold on collecting your past due taxes. The IRS will not garnish your salary, charge the bank account directly, nor require any installment agreement. This method is a great way to get up on your feet without having immediate consequences from the IRS. However, this will only be a temporary status that will allow you to relieve some short-term stress.
Installment Agreements
Installment agreements are meant to help taxpayers get rid of tax debt by setting up a monthly payment plan. However, there are certain criteria you are supposed to meet in order to qualify.
To qualify, you and your partner (if married) should never have filed late or paid late within the previous five years. You must agree to file on time for future tax deadlines, and pay the owed amount within three years.
Offer in Compromise (OIC)
Offer in compromise allows you to settle the tax debt for a lower amount than the original amount. To qualify, there are several circumstances that need to apply. You must demonstrate your inability to pay the full amount of your tax debt to the IRS, and be up to date with tax filings and payments. The main goal of the OIC tax debt relief method is to significantly lower your tax burden. If you were denied in the past, we can help you proceed through the right steps.
Penalty Abatement
One thing the IRS is consistent with is the number of fees, interest, and penalties leveled on the principal balance of your tax liabilities. We can help establish some measures that will call for penalty abatement under some guidelines and restrictions capable of reducing your fees and penalty up to 40 percent. To see if you are eligible for this, kindly consult your tax consultant.
Innocent Spouse Tax Relief
Innocent Spouse Tax Relief will help avoid additional tax liability, increasing interest, and penalties with the IRS. This relief program states that one of the partners is completely innocent of any tax errors, unreported income, or claimed deductions. To qualify for Innocent Spouse Relief, you must file taxes with your spouse jointly along with other requirements.
Wage Garnishments and Bank Levy Holds
The most ruthless collection methods used by state and federal agencies are wage garnishments and/or bank levies. Our tax debt relief experts are mindful of the negative impact these methods are capable of unleashing on a family; hence, we make them our utmost priority. For you to have a successful negotiation of your tax liabilities resolution, we can motion for a rapid garnishment and levy hold. Within 24 to 72 hours of the date the funds are withdrawn, we can get the withheld funds back into your account; this is applicable to most bank levies.
Here's How Tax Relief Fresh Start Program Works
Free 30-Minute Consultation
A tax specialist will give an honest assessment of the situation and discuss available options.
Investigation
Initiate client protection by establishing a communication channel with the IRS to review the case summary and list out viable options.
Resolution
We will establish IRS compliance to achieve the best resolution within the next 3-9 months.
Get Immediate Help with a Free Confidential Consultation
Why Taxpayers Trust Global CPA
What to Expect During Your Free Consultation!
Speak Directly With a Tax Expert
During the 30-minute consultation, you will get an answer to your burning questions and shared details about your current situation. During the consultation, we keep your information confidential and private.
Honest Assessment Of Your Situation
Our tax expert will provide you with an honest assessment based on your situation. Your goal is to have a reasonable roadmap in place to potentially decrease your tax debt balance.
Tax Debt Relief Program FAQs
What are my options if I’m currently struggling to pay my taxes?
If you are currently struggling to pay your taxes, contact Global Gate for a free consultation and see if you qualify for any of the IRS tax debt relief programs.
What if I can’t pay the installment agreement?
If for any reason you can’t pay on the agreed terms with the IRS, we recommend you reach out to the IRS for a revised installment agreement and potentially apply to a current not collectible status or an offer in compromise.
Can you negotiate the IRS Debt?
Yes, entering into an offer in compromise along with any of the other programs, allows you to negotiate the terms with the IRS.
What if a levy on my wages is creating hardship?
If a wage levy or garnishment is creating a financial hardship you can start by contacting us directly. You might have a possibility to change your status to currently not collectible or set up an installment agreement or offer in compromise, but this will vary based on your situation.
How do I get my IRS debt forgiven?
The most common program is the Offer in Compromise, as it allows the taxpayer to settle for a lower tax debt than the original amount. You can learn more about this tax resolution method by speaking with our tax debt relief experts. But other tax debt forgiveness programs include:
- Innocent Spouse Program
- Penalty Abatement
- Wage Garnishment
- Installation Agreement
- And More!
How does hiring a tax debt relief company work?
To hire a tax debt relief company, all you have to do is schedule a free consultation with Global Gate. From there, you will get the opportunity to speak with a tax expert and ensure you understand the options available based on your current financial hardship.
How much does a tax debt relief consultation cost?
The 30 to 60-minute initial consultation we provide is, in fact, free. There is no catch and no cost; before you commit to anything, we would like to show how we can be of assistance.
How quickly can I expect results?
Even though each situation is different, most of our clients are debt-free in three to nine months after we start the process.
What if I don’t qualify for IRS programs?
Even so, our experts will work with you to identify the best option for your financial situation.
Will you negotiate with the IRS?
Yes, so that you don’t have to, we handle all the paperwork and negotiations with the IRS.
What happens after the consultation?
If you decide to move forward after the consultation, we’ll start an investigation, get in touch with the IRS, and work diligently on your behalf to find the best solution to your tax problem.
What’s the Outcome of the Tax Relief Consultation
Roadmap
You will leave our consultation with a tailored and personalized roadmap to your financial situation so that you have a clear understanding of the next steps.
Experienced Professional
You have the opportunity to speak with an experienced tax professional so that you have all of your burning questions answered.
Clarity
Gain back clarity to your financial situation so that you are confident to reach your financial goals
Get Your Life Back With Global Gate in California
Global Gate is here to provide you with the tax debt relief solutions and support you need. Take the first step towards financial freedom by contacting us now! Trust in our expertise and let us alleviate your tax debt burdens, giving you the peace of mind and the fresh start you deserve.
Hi I was extremely nervous about owing so many back taxes that I couldn't sleep at night. Then I met Nadia Leverrado of Global Gate CPA. Nadia and her team have helped me so much and now I have some piece of mind. I didn't think I could ever pay back taxes but Nadia has helped show me the way. Thanks!
Douglas Carroll