Understanding Tax Law in Tennessee
In Tennessee, state and federal tax returns must be filed on a timely basis. Taxpayers who fail to file and pay their taxes face being contacted by the Internal Revenue Service and Tennessee state tax officials for tax bill collection.
Those who fail to pay their taxes in Tennessee are subject to the collections process by the state. Anyone who falls into this category will receive ample warning before the collections process begins. They will be given numerous notifications from the Department of Revenue before any action is taken. Those who do not respond to these notices will have collections actions begun against them.
During the period of time that the Department of Revenue is attempting to contact affected taxpayers for payment, various interest and penalties will accrue on the unpaid tax. If you have been contacted by the Department of Revenue or you have had collections action taken against you for unpaid taxes and you disagree with their assessment, you can dispute it in writing. If you dispute, you will have the opportunity to present your case at an informal conference.
Collections: Tax Levies
If you have collections action taken against you, there is a chance the state of Tennessee will levy your property. When this occurs, your physical property and the rights to your property are seized with the intention of being sold in order to pay your debts.
Before your property is seized, and before it is sold, you will be given multiple notices in order to rectify the situation. However, if you continue to ignore these notices, your property will be taken and potentially sold.
Tax Relief Programs
Instead of facing the penalties of unpaid taxes in Tennessee, you will want to seek tax relief assistance as soon as you receive your first notification. The longer you wait to contact a tax relief company, the more penalties and interest you will accrue, and the more likely you are to have collections action taken against you.
By reaching out to a tax relief company, you will have expert assistance dealing with the state of Tennessee and the IRS. When you work with a company such as the IRS Tax Relief Network, you will get help with tax relief. Our experienced team will help determine the best program for your needs, in order to obtain an agreeable tax resolution.
Partial Payment Agreement
Those who cannot pay their tax bill in full can file for a partial payment agreement. Payment assistance is an installment arrangement that enables you to make regular monthly payments for a set amount of time until your debt is paid off. If your request for a partial payment agreement is accepted by the state of Tennessee, they may require you to pay a down payment or be subject to a lien in order to secure their interests.
Approval for installment payments means that you must abide by the agreement or face penalties and collection actions.
Offer in Compromise
If you apply for an offer in compromise, you are asking for the state to accept the settlement of your case for a lower amount than you owe. While it is difficult to obtain an offer in compromise, in certain circumstances the Department of Revenue may approve the request.
If the state approves your application, you will have to adhere to the requirements and terms determined by the department. Conditions may include filing your tax returns and supplying the state with the appropriate documentation.
Working With a Certified Tax Resolution Specialist in Tennessee
Tax resolution specialists are professionals who can help you as you deal with the IRS. They have the knowledge and experience to determine the best course of action for your specific situation and can help you with your offer in compromise or partial payment agreement.
There are three types of Certified Tax Resolution Specialists, all of whom must undergo an intense education and pass a complex examination. The three types of CTR specialists are: tax attorneys, CPAs, and enrolled agents.
Tax resolution firms will have multiple Certified Tax Resolution Specialists offering a variety of services to help people with all types of tax issues. They will be able to help with federal tax issues, as well as with any state tax or property tax issues in the state of Tennessee.
If you have tax problems in Tennessee, you will want to find a tax expert to help you before you have collections action taken against you. Look for a tax relief company that can practice in the state of Tennessee, has multiple positive reviews from their past clients, and offers all of the tax relief services that you may need.
It’s important to find a company with IRS tax debt professionals that can assist you as you deal with your tax issues in Tennessee. While tax problems may seem overwhelming, the worst thing you can do is ignore them and wait until they head to collections, with numerous penalties and interest. Finding a team to help you get your tax relief efforts going is essential. They will provide you with the advice, knowledge, and assistance you need to make sure you are on track to resolving your tax issues.
IRS Tax Relief Network
Instead of dealing with the IRS and the state of Tennessee on your own, consider getting professional representation for your situation. By contacting the IRS Tax Relief Network, you will ensure that you’ll have someone to walk beside you and help you through your tax issues. Whether you’re dealing with property tax issues, your income tax return, or other problems, the IRS Tax Relief Network has the knowledge and experience to help you find relief.