If you’ve ever gotten behind on your taxes due to not filing your tax return or failing to pay your tax bill, then you understand how stressful it can be. Dealing with the internal revenue service can be overwhelming and even scary, especially if you’re not sure what to expect.
The good news is, there is help for Maryland residents.
Many professional tax relief companies offer tax relief services to people who have tax debt. These services are a great way for people to settle their back taxes. Any Maryland taxpayer who has tax debt may be able to find a resolution through one of the tax relief options that are available.
Here’s what you need to know about tax relief in Maryland:
Options for Tax Relief
If you’re looking for a way to settle your tax debt, there are multiple tax relief options available to taxpayers in Maryland. An experienced tax relief company will be able to help you decide on the best option for your unique situation.
With the right tax relief team, you might be able to avoid penalties and fines, as well as having to meet with the IRS.
If you work with a tax relief company, you’ll want to find one that offers essential and transparent tax relief services. These services should include the following:
Offer in Compromise
An offer in compromise is a tax relief program that helps taxpayers settle their tax liabilities for less than they owe. This is a good option for people who will be adversely affected by paying their entire tax bill.
If approved for an offer in compromise, you will end up paying less than the amount you owe and you will be able to avoid penalties and interest from the IRS.
Penalty Abatement
Taxpayers who have had stiff fees and penalties added onto their tax deficit may find that a penalty abatement offers the relief that they need. This tax relief service helps get tax penalties removed from debt.
In order to be approved for this program, the tax relief company that you work with will need to be able to show that you failed to pay or file your taxes due to a reasonable cause instead of negligence. If they can prove this, then you may be able to have your penalties removed.
Installment Agreement
When a taxpayer agrees to pay the full amount of their tax bill but cannot pay it all at one time, they may be approved for an installment agreement or payment plan.
The installment agreement is an agreement between the taxpayer and the IRS. In this plan, the two parties agree on a certain amount to be paid each month until the back taxes are paid in full.
If you are approved for this program, you will make monthly payments of a predetermined, minimal amount for a certain period of time. In return, the IRS agrees not to pursue any collection attempts against you while you are making your payments.
Currently Not Collectible
Currently, not collectible status is given to taxpayers who are able to prove that they cannot pay their taxes without having an extreme financial hardship that prevents them from taking care of their living expenses.
This program removes tax debt for the foreseeable future from the taxpayer, so they don’t have to worry about paying what they owe. While they have CNC status, they are given a level of protection against collection attempts and penalties, while some penalties can still be pursued.
Taxpayers who qualify for currently, the not collectible status will have to requalify annually to stay on the program.
Tax Audit Appeals
When a taxpayer is audited by the IRS, they will want to seek legal help right away from a tax relief company. They will help determine if an audit is inaccurate and will dispute it on your behalf.
Qualified tax relief agents such as tax attorneys, certified public accountants and enrolled agents, are able to represent clients in front of the IRS. This is important if you are being audited and need a strong defense or appeal.
If you are being audited, make sure that you hire a tax relief company that has the professional team you need for representation.
Innocent Spouse Relief
Innocent spouse relief is for taxpayers who were unaware that their spouse had an error or deficit on their tax return. In order to not be held responsible, they will need to prove that they did not know about the error.
Experienced tax relief agents can help determine if you qualify for innocent spouse relief. They will help you file the right forms as you apply for the program with the IRS.
IRS Fresh Start Program
The IRS Fresh Start Program began in 2011 with the goal of helping taxpayers get out of debt and includes all of the aforementioned tax relief options.
The fresh start program helps the IRS get the money they are owed without creating harsh penalties, such as jail time, for taxpayers who are in debt. It allows taxpayers to find a tax relief option that works for their unique tax situation, in order to settle their tax bill and stop interest and penalties from accruing. The overall goal is for the IRS to get paid and the taxpayer to get their financial life back on track.
Frequently Asked Questions
What is Tax Relief?
Tax relief services are a helpful option for people who have tax debt. The various options are designed to help taxpayers find a viable solution to their tax problems. There are multiple programs available to taxpayers who have tax debt. The right program will help taxpayers, whether they have been given a penalty or if they have a large tax bill.
What are Common Problems that Result in the Need for Tax Relief?
Every tax debt situation is unique and there are many issues that cause taxpayers to seek tax relief services. However, most of these issues fall into the most common tax relief categories. These problems include:
- Unfiled tax forms
- Unpaid tax bill
- IRS audits
- IRS penalties
- Tax liens
- Tax levies
- Wage garnishments
How Can I Qualify for a Tax Relief Program?
If you have unpaid taxes, you will most likely qualify for one of the tax relief options. You will need to decide on and apply for the best program for your situation. Talking with a tax relief professional is the best way to determine which program is right for you. They will help you file your tax forms and accurately apply for the program. Once approved, they will guide you and represent you until your case has found a resolution.
IRS Tax Relief Network for Maryland Tax Relief
The state of Maryland is one of the first 13 states of the United States. It is right at the heart of the eastern seaboard, making it a hub for the hustle and bustle that occurs on the stretch between Maine and Virginia.
From ocean to forest to city, Maryland is a mixture of the best of the east coast. Temperatures border on extreme in certain parts of the year and storms create high precipitation levels, making Maryland the perfect source to provide municipal water for Baltimore and Washington DC.
Many residents of Maryland find themselves in need of tax relief services every year. From unpaid taxes to IRS penalties, many Maryland taxpayers need help finding relief from their tax situation.
The team at the IRS Tax Relief Network can serve Maryland residents who are looking for solutions for their tax problems. They are made up of qualified tax professionals such as tax attorneys, enrolled agents, and CPAs, who are able to help taxpayers by representing them in front of the IRS.
The IRS Tax Relief Network offers all of the necessary tax relief services from the IRS Fresh Start Program, including offer in compromise, penalty abatement, currently not collectible, innocent spouse relief, installment agreements, and tax audit appeals.
If you are in Maryland and need help finding a tax resolution, contact the IRS Tax Relief Network today.