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If the IRS decides to move forward with a levy you could end up losing your home, or having money taken from your wages, bank account, etc.
If you don't do tax resolution day in and day out, you don't know all the loopholes, tricks and tools. They have to take a special exam and have a number of years of experience and continuing education in this field. There are only about 200 in the entire country who actually do this as a living.
In fact, don't bring to an audit any documents that do not pertain to the year under audit, or were not specifically requested by the audit notice.
Don't forget that if this article hasn't provided you with exact property tax relief information, you can use any of the main search engines on the Internet, to find the exact property tax relief information you need.
If bankruptcy or an offer in compromise is not an option, a taxpayer should consider an installment agreement. When trying to establish an agreement, the taxpayer must have reasonable negotiating skills.
The penalty is one of the more punitive penalties that the IRS has available and should always be avoided.
Not only is it critical to file your forms timely, you must make sure that you carefully reply to any IRS correspondence. The IRS may request additional information in order to process your offer.
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by: D Kulkarni
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