Florida Tax Relief Options
Florida residents facing tax debt due to back taxes or filing mistakes have the right to educate themselves about the collection process and their options. The FL Department of Revenue and the IRS can use a number of collection techniques in order to get the money owed to them. Florida tax relief is not impossible to get.
The longer the collection process takes, the larger the sum owed can become due to penalties and interest rates. Dealing with this as quickly and efficiently as possible is key when trying to stem the loss of assets to the IRS.
What Can the IRS Do?
The IRS has the power to bypass the court system and to take possession of your assets directly. This is a scary prospect for those who owe thousands of dollars in back taxes.
The first step in the collections process usually involves a number of letters or phone calls attempting to collect the money owed from the taxpayer. When this fails to work, the IRS can employ tax liens, wage garnishment, future refund offsets, and even the physical possession of your valuable assets.
Before it gets to this point, it can help to contact your taxpayer advocate. This is a local entity that can advise you on your options and rights when dealing with the IRS.
Seeking Help in Florida
There are several solutions that can help taxpayers to repay their debts at a fraction of the original cost. The offer in compromise allows the person who owes money to the IRS to settle their debt with one income base lump sum payment. This is an excellent option if you don’t make enough money to pay off your balance in full.
For those who are married to someone who owes the IRS money, innocent spouse relief may be applicable. The best course of action is to call the IRS or a tax relief professional to get more information on your options.