Tax Debt Relief: 5 Tips to Set Things Right with the IRS

Tip 4: Hire an attorney if you owe more than $10,000.

Whether or not you are able to work out a payment plan with the IRS and pay your debt down over several years is largely determined by how much you owe – meaning that if you have significant debt with the IRS, it may be wise to hire an attorney to negotiate on your behalf. A tax attorney can help mitigate any potential damage from a lien assessment against your property by negotiating better terms for yourself in addition to helping review any new changes in in-laws.

Be wary of the people you hire to help with your tax debt. State attorneys generally frequently warn consumers about tax-debt relief scams, and these professionals know that fraudsters often make promises they can’t keep.

There is a number of resources available for consumers who need assistance getting out of debt. One example is the SuperMoney website, which allows you to compare rates and fees among tax-relief companies that help correct your financials with the IRS.

The industry is a valuable service, but people should explore their options before settling on one.

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