The most commonly utilized Florida tax relief method is the installment agreement. This method has proved to be the most suitable means in the repayment of tax debts by keeping an eye on one’s monthly income and expenditure and determining an affordable repayment plan. To make the process more easy, it is advisable to employ a qualified and experienced attorney on the matter. Qualified attorneys know all the ins and outs of the tax law well and they can give sound legal advice to their clients in relation to their specific needs and situations. An experienced attorney can even help to prepare the necessary documents and paperwork for the purpose of getting the tax debt settled.Tax Relief Assistance in Orlando
In cases where people are unable to meet their financial obligations despite having filed the returns, the IRS will impose a levy which is considered a legal procedure to collect the debt. A levy is levied only if the person does not pay the tax debt within the given time period. The IRS also issues IRS levies for back taxes, interests and penalties. For levy, it is always better to consult a Florida tax relief attorney who can give sound legal advice on the subject.
If necessary, the attorney can also negotiate with the IRS for a settlement. If a settlement is achieved, then the IRS will reduce the liability of the taxpayer and allow him to pay the liability within a fixed period of time. Usually, the payer has to pay the balance in full by the end of the fixed period of time or else he has to face a penalty. Another way in which the attorney can help his client is by preparing a payment plan with the IRS. The payment plan involves the client making a single payment every month, which is slightly higher than his regular income tax payment, with the proviso that the payment should be made by using a particular bank account which he designated for the purpose.