Archive for May 10, 2013

Oh, I See! OIC tax debt settlement is there for those struggling with tax debt

Written by Free Online Encyclopedia. Posted in Irs garnishment, Reduce back taxes

Irs debt settlement

Taxes are considered a scourge by many, but the truth is that without taxes we wouldn’t have the services and infrastructure and protection we enjoy today in this country. To fuel the exceedingly expensive Civil War effort, the United States Congress passed our first income tax requirement in 1862, with an average earner paying about three percent. Fifty years later, a Constitutional amendment made the income tax a permanent requirement of American workers.

Today, with exponentially higher income tax rates, a crippled economy,a burst housing bubble and other fiscal woes plaguing the nation and its citizens, back tax help and back tax relief is something more law abiding Americans are finding they need. Many folks in tax holes are looking to Offer in Compromise (OIC), an IRS tax debt settlement program allowing those with debts to arrange an amount less than the entire amount owed. This form of IRS tax relief can stop wage garnishment and provide a faster path to tax debt relief for many Americans struggling with the double whammy of tax debt and tax penalties for failure to pay. The OIC tax debt settlement option helps taxpayers reduce back taxes and avoid penalties and garnishments, and those with or without back tax problems should know that OIC is out there to help them. Hopefully the tax man will not find himself at your door, but should he, the IRS itself can be the one to help you arrange a tax debt settlement that works for both you and the government.

Thanks to the Constitution, income taxes are, to invoke Ben Franklin, indeed as certain as death. But tax debt need not be a fiscal death sentence for you. Tax debt settlement is out there and is a right as sure as the tax is your responsibility.