Throughout Civil War times, people who made anywhere from $6,000 to $10,000 annually were given a tax rate of three percent. Today’s taxes are much higher, and many times back tax help becomes a requirement for some. So why are IRS debt relief programs like those available from back taxes help professionals so helpful when people are in dire financial straits and have practically nowhere else they can turn?
For most, back tax relief programs help. This has particular resonance with people going through Irs garnishment of wages, which is when employers are accountable for taking away a part of an employee’s wage to pay for the taxes that employee owes. Often, a professional offering back taxes help will work with the client on tax penalty abatement, which is the No. 1 way people can challenge any IRS penalties they have incurred. Other tools that could come from a back taxes help professional include discussions about and sending out an offer in compromise, or OIC, which is part of a program in which the IRS is required to allow people who qualify negotiate the terms of a settlement amount that is lower than what the IRS says they owe. This statute, located under 26 USC 7122, is similar to what taxpayers have available via the Effective Tax Administration, or ETA, which is an offer requiring that taxpayers ineligible for offers in compromised that are based on either theories of doubt or collectability.