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If you have a tax liability problem, your tax situation can spiral out of your control before you realize it has happened. If you owe the IRS more than what you can afford, and if you don’t act to resolve it right away, you can find yourself in major trouble.

Some people think that tax resolution is an easy task that requires little effort, but this couldn’t be further from the truth. Whether you’re having issues with your individual tax return, or a tax return for your business, the only tax resolution that is going to settle your problem is one that is developed by an experienced and skilled professional. Being in collection status with the Internal Revenue Service (IRS) is something that should not be taken lightly. If you think they will eventually stop pursuing you, you’re wrong.

The sooner you schedule a Case Assessment Session with a tax resolution specialist the more options you may have since there is a time limit that can affect your legal rights as a taxpayer.  In the event the IRS has imposed a wage garnishment on you, a tax resolution specialist can, in most cases, get the garnishment removed. A professional will help you establish a formal tax debt resolution based on how much you owe, the age of the debt, and other factors in your case. Once a resolution plan has been established, garnishment of your wages is usually halted.

If you think your tax situation leaves you vulnerable to enforced collection action by the IRS, such as liens, levies and wage garnishments, and you’re wondering what the impact of the actions will be on you, such as how much of your earnings will IRS be able to garnish, you’ll want to request the assistance from a tax resolution specialist as quickly as possible.

A professional tax resolution specialist will not only help you stop the wage garnishment, but also help pick the best resolution strategy for which you qualify based on your tax situation. The IRS has basically three payment plans to help troubled taxpayers settle their liability balance: Pay in Full, an Installment Plan, or an Offer in Compromise. Weighing these three options vary largely on your current financial situation and takes significant time, effort and expertise. That is why handling this course of action is best left to a well-experienced tax professional who can make certain you get the most effective arrangement possible.

When it comes to tax resolutions, only trust the professionals that will tell you the truth and provide you with an acceptable plan. If ever you are in the unfortunate and stressful situation of owing a large amount of money to the IRS (or state taxing authority), the best thing that you can do is to hire a tax resolution specialist. Here at Joseph F. Fragnoli, CPA, PC in Nashville, TN, we spend hours and days making plans to make the tax situation of our resolution clients more workable by developing a plan of action. Hiring us means having a plan and implementing it can bring you real peace of mind again!

If you are stressed about tax resolution, seek out a professional; seek out Joseph F. Fragnoli, CPA, PC. Call us at (615) 678-4751. We can also meet in my office at 545 Mainstream Drive, Suite 409, Nashville, TN  37228 or we can meet at a place of your choosing if that is more convenient.