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Negotiate Back Taxes

Updated on June 23, 2010

It is vitally important that anyone who has an issue with back taxes due the Federal and State governments take immediate action to deal with the issue in the most favorable way possible. The fact of the matter is that the problems are not going to magically disappear on their own, and the sooner one begins to take the necessary steps to deal with them, the better they will feel and the outcome will be. Obtaining the assistance and consultation of an expert in this field, is a wise decision to make. Whatever expenses that are involved in securing this advice and aid will more than likely be paid for in the final agreements reached. The layman attempting to deal with and make sense out of the tax codes is certain to have an extremely difficult time doing so, unless they have extensive and up-to-date training in this area. There are a number of suggestions to be followed as one begins to deal with this issue.

Back Taxes Negotiation

The first thing that must be done, is to gather any and all papers relating to the problem that one can. All documentation pertaining to income, taxes paid and potential write-offs and deductions, must be secured. These must be turned over to the firm selected to negotiate all dealings with the agencies involved. The more information they have to work on your behalf, the better the outcome will be. Certainly, time is of the essence in all these negotiations, because each day it drags on, additional penalties and fines continue to be assessed.

The eventual outcome will be a negotiated settlement with the federal and state agencies involved. Of course, if one is capable of being able to make one final payment that will satisfy the issue, this will usually be much less expensive as opposed to stretching it out over an extended period of time. Unfortunately, most people involved in these situations are not in a position to do this, so they have to opt for the installment plan. This however will prove to work out positively, because the agencies involved that are anxious to receive what is due them, are more than willing to negotiate tems that the person involved can sufficiently manage. It would be foolish on their part to impose guidelines that the person would be incapable of meeting, because they obviously would then not be able to meet their commitments and satisfy their obligations.


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