Instant Tax Solutions: Back Tax Relief, Part One

About

According to the professionals at Instant Tax Solutions, “the IRS is becoming more cooperative than ever.” The reason for this increased willingness for compromise, according to Instant Tax Solutions, is the current economy. Instant Tax Solutions is a forty-person team of tax professionals that assist individuals with tax relief. Co-founded by Byron Pedersen and Ian Woodman, Instant Tax Solutions has a client list that spans the entire nation.

“While it is important for an individual owing back taxes to consult legal representation, there are basically two categories of programs for handling back taxes,” explains Instant Tax Solutions’ Byron Pedersen. The first category of programs, according to the Instant Tax Solutions co-founder, is to enter into an agreement settling the amount of back tax for less than owed. “If for some reason the tax debt cannot be reduced, a taxpayer can apply for special consideration,” explains Instant Tax Solutions’ Pedersen.

In this article, using the Instant Tax Solutions website as a resource, we will briefly examine the three options available if the Internal Revenue Service agrees to settle back taxes for less than what is owed. The first option, according the Instant Tax Solutions website, is the Offer in Compromise. “While this is the most popular option among taxpayers, it is also the most difficult for which to qualify,” notes Instant Tax Solutions. The OIC gives the IRS authorization to reduce the amount owed, including penalties and fees, according to Instant Tax Solutions. “The burden falls on the taxpayer applying for this option to prove that the amount owed would force them into financial hardship,” says Instant Tax Solutions, “and that it probably would never be paid in full.”

According to the Instant Tax Solutions website, the second option under the program of a settlement reduction is penalty abatement. The Instant Tax Solutions online resource explains that penalty abatement is the elimination or reduction of fees and penalties imposed by the IRS. However, according to Instant Tax Solutions, reasonable cause for failure to follow tax laws must be stated. Instant Tax Solutions further explains that some of those reasons include death or serious illness, unavoidable absence by taxpayer, or inability to determine tax amount for reasons beyond taxpayer control.

The third option under the program of settling back taxes with the IRS for less than what is owed, says Instant Tax Solutions, is a Partial Payment Installment Agreement (PPIA). According to the Instant Tax Solutions website, a PPIA is a reduction of total tax liability broken down into a monthly payment plan. In order to qualify, the taxpayer has to demonstrate that they are financially unable to pay the minimum monthly payment of the tax debt, explains Instant Tax Solutions. A negotiated agreement may be reached, for a lesser amount, allowing the taxpayer to pay their tax liability over a monthly payment plan.

Whatever the situation may be, a taxpayer owing back taxes needs proper representation, maintains Instant Tax Solutions co-founder Byron Pedersen. “Qualified representation, like that provided by the professionals at Instant Tax Solutions, knows the ‘in and outs’ of the IRS and can negotiate the best option for the taxpayer,” states Pedersen.

Instant Tax Solutions was birthed out of a vision to join expert tax relief services with an absolute commitment to integrity. With genuine concern for clients and a combined tax relief experience of over one hundred years, the professional and highly educated staff continues to remain current with tax changes. For more information about the assistance offered by Instant Tax Solutions, visit them online at http://InstantTaxSolutions.com.

Click here to read Part 2 of Instant Tax Solutions: Back Tax Relief


5 Responses

We had three years of unfiled taxes and the IRS claimed that we owed them over $14,000. Instant Tax Solutions took care of everything. The most effort required on our part was assembling our remaining documents into a convenient tax organizer for each year, and I was able to scan and email everything to the courteous Instant Tax Solutions professionals who were handling my case. After that, they were able to fill in the missing documents from our records on file with the IRS. Instant Tax Solutions even filed our current tax year for us. In the end, instead of owing $14,000 to the IRS, we received enough in refunds to cover the cost of retaining Instant Tax Solutions and still had nearly $900 in refunds left over. Using Instant Tax Solutions was the best decision I ever made; they transformed my sense of hopelessness into peace of mind!

05.14.11

Finding Instant Tax Solutions Was Truly a Blessing

Giving Instant Tax Solutions, their consultant and caseworkers only 5 stars is the understatement of the decade. Instant Tax Solutions is nothing less than a lifesaver. Now I am in no way proud that I let it come to this, but with the help of Instant Tax Solutions and them working closely with my case worker at the IRS they were able to in all reality give me a second chance at creating a new life for myself my new family and moving beyond the bad situations I put myself into in the past. From the bottom of me and my new family’s hearts, thank you Instant Tax Solutions for really caring and have the reputation with the IRS to do everything you can to help your customers.

05.14.11

Instant Tax Solutions practically saved my life!!! REALLY!… I was a little nervous at first but the people I dealt with at Instant Tax Solutions made me feel comfortable and assured. I can’t say enough. They were all knowledgeable, kind, punctual with info, kept me fully informed…. and worked miracles!

I was in a total mess with the IRS, I’d missed filing a few years, the IRS had calculated what I owed them and it was close to $20,000. I was on an installment agreement just to keep them off my paycheck, but the interest on the Installment agreement was basically keeping my balance the same month after month.

Instant Tax Solutions filed my missing years, got me big returns on certain years and went to paying off what I owed on the others…. in the end I wound up paying the IRS less than $200…THIS IS A TRUE STORY PEOPLE!
Trust these guys. Pay their completely affordable and reasonable fee and let Instant Tax Solutions dig you out of your hole.

I called Instant Tax Solutions after researching them with the Better Business Bureau because they had an A+ rating. It was a time critical situation for me because the IRS had sent an notice to my employer that they would start a garnishment of roughly 3/4 of my net pay on my NEXT paycheck (which was only a few days away).

Instant Tax Solutions kicked it into high gear and worked with both the IRS and my employer to have the garnishment lifted before the IRS took a dime, which seemed like an impossible task given the short time we had to work with. Now it’s on to phase 2 [with Instant Tax Solutions], which is determining exactly what I owe the IRS, not sure what the future holds with respect to that, but I know I’m glad I’ve got Instant Tax Solutions in my corner!

Instant Tax Solutions (ITS) was my last call to a tax firm before surrendering myself to the mercy of the IRS. I explained my situation, instead of telling me how irresponsible I was for not dealing with my tax problems, Instant Tax Solutions had a game plan for me and advised me of what my next move should be. Once I hired Instant Tax Solutions, they were very attentive and immediately started the process to stop my wage garnishment. These guys worked hard for me. Instant Tax Solutions did everything in their power to get my garnishment lifted; since I had had years of not filing, a compromise was made with the IRS! They dramatically reduced my garnishment and now I will have 10 years of irresponsibility behind me. ITS has ensured that all unfiled taxes be filed and that I get all deductions that I deserve.

I am probably one of the worst-case scenarios; nonetheless Instant Tax Solutions did exactly what they said they were going to do. Job well done Instant Tax Solutions! I am now a client for life. I don’t want to ever have to go through this again. I recommend if you have any concerns about your tax situation, no matter how small you think it is, call someone who can help you. Call Instant Tax Solutions.

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