“Federal Tax burdens are guaranteed for life: unless you apply”

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By: David Hernandez, CPA

 

One of the great advantages of receiving professional advice is the access to tips that really help you not only in times of success…but also, in times of need.

As the economy took the wrong turn in 2008, many individuals including business owners experienced a period of financial uncertainty, and faced challenges that required advanced tax professional advice. When taxpayers accumulate federal tax debt with the Internal Revenue Service (IRS), like in the period 2008-present, they typically don’t know there are solutions available, including an “Offer in Compromise”, for those who meet the requirements, let us quote the IRS:

“An offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can’t pay your full tax liability, or doing so creates a financial hardship. We consider your unique set of facts and circumstances: Ability to pay; Income; Expenses; and Asset equity”

If you have debt outstanding with the IRS, please don’t face this alone, contact a Tax professional with expertise in IRS Representation, to analyze your finances and determine practical options.

For further information I can be contacted at: dhernandez@hernandez-cpa.com or (305) 707-8007

 

Disclosure: “The comments above by David Hernandez, CPA do not consist of official consulting or advice, since every situation is different for every client. This opinion is based on general situations and topics and cannot be misconstrued as legal nor tax advice provided by Doral Family Journal”

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