Tax Resolution Services for Efficient Tax Management

Posted by Sadan SEO on September 25th, 2023

When taxpayers have a problem paying their taxes on time, it is difficult to stay away from trouble. But, tax resolution services help such clients to tackle government-related problems with legitimate counter-evidence.

There are so many technicalities that it is difficult for a common resident of a country to indulge in all of them. So, tax resolution firms have experts who have been a part of esteemed tax organizations around the world at your expense.       

Common types of tax resolution services

1. Instalment agreement

The taxpayer has to pay the entire amount in instalments, spanning six years. This helps the taxpayer pay manageable and small amounts. The pressure is equally distributed, letting none stay. However, it is not that easy to get one approved. It has many technical ways of resolution, so tax resolution services work like a charm.

2. Partial Payment Instalment Agreement

What if a person is unable to pay the instalment agreement efficiently? Well, the government acknowledges that people cannot always pay for everything. So, the partial payment installation agreement acknowledges that the partial payment of taxes for the fixed time shall also be considered. They can pay until the collection date expires. You can learn more about it in leading journals like the Journal of Commerce and Accounting.

3. Offer In Compromise (OIC)

This allows the taxpayer to settle their taxes for less than what they owe. There is a compromise between the payer and the tax collector, agreeing on a certain payment which benefits both parties. A good tax resolution service like Unity Tax Relief helps the client get an OIC conveniently.

There are three grounds on which OIC can be submitted:

● Doubt as to Collectability

● Doubt as to liability

● Effective Tax Administration

4. Penalty Abatement

Penalties on taxes get stacked up pretty fast. The government also recognizes this. So, defaulters are not directly put into the problem. A good tax resolution consultant helps the payee get recognized by the government for abatement.

There are two types of penalty abatements:

● First-time penalty abatement

This abatement is easier. If a person has been a fair taxpayer all his life and has accumulated a year or so of taxes for the first time, they are not sent to jail. This is generic and easy to apply for.

● Reasonable cause abatement

Anything after the first time could land the payer in jail. So, a good tax resolution service helps their client to abate after the first time. However, it considers many matters. These ‘reasonable’ situations are complicated and multi-faceted. So, to explain these, you need a professional by your side.    

Conclusion

Tax resolution services help people in need. If you ever need help, make sure you do your research. Anyone can mess up their taxes and it is understandably complicated. It is just so vast that not everyone can remember all the clauses. A defaulter is not a defaulter by choice. All thanks to renowned establishments like Unity Tax Relief who provide taxpayers with the ‘relief’ they need. They help defaulters pay fewer taxes with better accessibility to laws.