Tax Resolution

Tax resolution is the process of finding a solution to resolve a taxpayer’s outstanding tax debt with the IRS. Tax resolution can involve a variety of methods depending on the taxpayer’s financial situation and the amount of debt owed. Common tax resolution strategies include:

• Installment Agreements: Payment plans that allow taxpayers to pay their debt over time.
• Offer in Compromise (OIC): Settles the tax debt for less than the full amount owed.
• Penalty abatement: Reduces or eliminates penalties for failure to file or pay taxes.
• Currently Not Collectible (CNC) status: Temporarily suspends collection actions due to financial hardship.

Tax resolution professionals, such as tax attorneys, CPAs, or enrolled agents, can assist taxpayers in negotiating with the IRS to reach a favorable outcome. The goal of tax resolution is to address the debt in a way that minimizes the taxpayer’s financial burden while avoiding more severe enforcement actions like levies and garnishments.