Tax Negotiation  

Tax Negotiation

Tax Negotiation  

Options are available for those who are facing out of control back tax debt. When tax debt becomes more than a person can financially pay, exploring tax negotiation, also known as tax debt settlement may be wise. This option will make it possible for a taxpayer to settle for less than what they owe. The formal name for this program is Offer in Compromise.

It is important to understand which tax debts can be negotiated for less. There are different types of tax relief programs available. Not all are a good fit for everyone. Knowing if the debt can be settled or if another tax relief program is a better option, will help determine the best way to handle the debt. An experienced tax professional can help to determine the best tax negotiation option available for the situation.

A person’s financial status and particular situation will be used to determine if Offer in Compromise is the best option. Everything including income, assets and living expenses are investigated when attempting to negotiate a tax debt. A very small percentage of those who file an Offer in Compromise actually get approved to settle for less than what was originally owed.

The IRS will consider a tax settlement when a person’s financial situation is so bad, paying the full amount would be impossible. An example would be someone who recently became unemployed, disabled, experienced a significant decrease in income or someone with a low fixed household income.

Another method of tax debt negotiation is a Partial Payment Plan agreement. This is when you enter into an Installment Agreement with IRS but the required monthly payments will not pay your entire IRS back tax debt by the IRS Collection Statute Expiration Date. In many Partial Pay Agreement cases, the statute of limitations for collecting a tax debt is reached before the debt is fully satisfied. When this occurs, the remaining balance of the debt will be written off.

It may also be possible to reduce the total back tax liability by requesting or filing a petition for a penalty abatement. Generally, penalty abatement may be granted if you can show justifiable reasonable cause for not being able to file or pay taxes timely.

If tax negotiation does not work there are other options available. A regular installment agreement divides the total balance over a certain number of months. This type of agreement will stop the IRS from continuing with their collection attempts. Interest and tax penalties will continue to add up until the balance has been paid in full.

When negotiation fails, do not ignore other options available. Ignoring a tax bill can lead to further aggressive action by the IRS. Failing to take care of tax debt can lead to tax liens and levies, meaning the taxpayer could face seizure of property, assets and money in bank accounts. The IRS is usually willing to help those who are in need and ready to get help with their back tax debt.

For those who need help negotiating with the IRS it may make sense to seek the assistance of a tax professional. An experienced tax professional knows how to navigate the process and reach an acceptable agreement with IRS agents and collectors. Hiring a tax professional will make the process easier and will increase chances in getting approved for the best possible tax negotiation option.

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4.8 out of 5 star

10 reviews

Jess T.
2019, July 30, 5:31 pm

Coast one Financial saw my family through

Coast one Financial saw my family through our entire settlement to the end! They did everything they promised, and got us a major settlement savings! My husband and I can\'t thank them enough!

2019, June 20, 1:42 pm

Coast one helped me out when I was up against the IRS

Coast one financial group helped me out when I was up against the IRS with a debt of close to $15,000. My ex husband left me in a bad place financially having lied on our last joint tax return. I also had some health issues that kept me from paying my taxes and instead paying for health insurance. Coast one handled all correspondence to and from the IRS as well as kept in touch with me throughout the whole experience. I settled for pennies on the dollar and can now resume my life tax debt free. I\'m so grateful for their help.

Donna S
2019, June 20, 1:31 pm

Coast one save me $34,000 in *** tax debt

Coast one save me $34,000 in *** tax debt the entire team worked me to get all info need for my settlement. I saw advertisement on tv for Coast One and had no I dead they could help me. We settled $440 great job guys!!!

Julie Churchill
2019, May 15, 1:43 pm

I was very happy

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Cindy L
2019, May 3, 1:32 pm

My husband and I had about $40,000 in tax debt

My husband and I had about $40,000 in tax debt from some difficulties we had experienced a few years ago. The *** refused to make payment arrangements with us after we’d broken our past agreement following a job and personal losses. We’d seen these tax relief advertisements but wondered if it would work for us. I got an offer to help us by Coast One Financial Group.. I called them and left a message. An attorney called me back and asked if he told me for a few thousand (about $3000 I think) I he could help eliminate $10’s of thousands of dollars of *** debt. I said i’d Love to but didn’t have enough to pay them. He offered us a payment arrangement that we could afford and we did it. We ended up paying the *** $259.00 in exchange for eliminating $40900 of tax debt. We got the letter this week that our tax lien will be lifted within 30 days. This year we filed our taxes and paid them in full! What a relief and burden was lifted thanks to Coast One Financial and their attorneys. I would recommend them to everyone. They are amazing!

Reply from Coast1Tax :

2019, May 3, 1:32 pm

Thank you!

stephen k
2019, May 2, 1:59 pm

will tell many people to call

was very happy with the outcome will tell many people to call coast one for help and thank you.

Reply from Coast1Tax :

2019, May 3, 1:59 pm

Thank you!

Reginald G
2019, April 3, 2:00 pm

Coast One is the best hands down

Coast One is the best hands down, I would recommend Coast One to anyone who has any *** trouble. Everyone have had the up most respect for me situation and took time to walk me through it every step of the way until things was resolved properly. My hat goes off to the whole team. You guys rock

Reply from Coast1Tax :

2019, April 3, 2:00 pm

Thank you!

Cynthia K
2019, March 25, 2:01 pm



Reply from Coast1Tax :

2019, March 25, 2:01 pm

Thank you!

Ranting with Reg Hollywood
2019, January 15, 1:46 pm

step by step guidance

Thank you so much for your patience and step by step guidance, You guys are great and would recommend anyone who have a IRS problem to you guy. Thanks a million you guys rock. I appreciate everything you\'ve done

S. Atika
2018, August 30, 1:47 pm

I owed $44,000 and walked away paying $123 NO JOKE!

Coast One allowed me to have peace again. I was in debt over my ears and saw no way out. With a little time and patience they took me out of debt and gave me my life back. I owed $44,000 and walked away paying $123 NO JOKE! Thank you to the amazing team at Coast One!

Reply from Coast1Tax :

2018, September 1, 1:47 pm

On Behalf of Coast One, we thank you!

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