Dealing with the IRS with the Advocacy of BC Tax in Colorado

Because of inadvertent mistakes, people all too often have run-ins with federal and state tax agencies. Thow in this position can feel extremely helpless, but there are ways that this scenario can work out for the individual that owes taxes, as well as the tax collecting agencies. This is precisely what the professionals at bc tax colorado can provide.

When an individual gets a letter from the IRS saying that they owe money from income tax returns, the first thing that the professionals at BC Tax will do is to go over the income tax filing to ensure that everything is correct. What many people are surprised to find is that the IRS’s calculations aren’t always correct. Sometimes the IRS overstates the amount of money that a person owes. Sometimes the money is significantly less than what the IRS says is owed by the taxpayer. These sorts of contested tax returns can be submitted to the IRS for their approval.

However, in many cases, this will still leave a certain amount of money outstanding that the taxpayer owes to the IRS. If the person is not able to pay that amount, BC Tax can help the individual apply for an installment payment agreement. This is the easiest way for the repayment of taxes owed in an affordable manner.

There are some cases where the IRS is correct about the amount of money that a taxpayer owes. If the taxpayer is unable to make the sort of payment needed to resolve the tax issue, and if the tax amount doesn’t qualify for an installment agreement, BC Tax can help the taxpayer reach a offer in compromise to the IRS. If a person doesn’t have a great deal of liquidity or assets that the IRS can seize in order to repay the debt, an offer in compromise is the lower amount of money that the taxpayer can afford to pay that is also agreed upon by the IRS. This helps reduce tax debt, and it allows the taxpayer to repay their debt.

If you’re in a situation where you owe money to the IRS, it’s worth talking to the experts at BC Tax to see if they can help. Whether it’s recalculating your old returns, or reaching a settlement with the IRS, these tax experts can take a very challenging and difficult situation and make it a bit easier on you.