INCOME TAX PROBLEMS
Personal debt of any kind can be tough to deal with, but income tax problems can be especially difficult. The IRS isn’t just any normal debt collector – they can seize money directly from your bank with little notice if your debt isn’t resolved soon.
Income tax is due every year on April 15th. It’s hard to forget about when you get a W2 and see your taxes withheld every paycheck (unless the under-withholding), but many taxpayers are self employed and simply forget to make estimated payments. When this happens and taxes are due, if left unpaid, the debt can accumulate penalties and interest beyond the original liability.
20/20 works with taxpayers to resolve income tax issues by negotiating installment agreements and offers in compromise to keep their tax account in good standing with the IRS. 20/20 also works to abate (have forgiven) any penalties associated with the tax debt to reduce what is owed as much as possible.
Contact us today to find out how we can help!