Tax Solutions to IRS Problems

Taxpayers who try to deal with the IRS on their own will often quit in frustration. Many have struggled with their tax problems for a long time before they realize that can't settle their tax debt by themselves. Fraser, Waldrop & Company CPAs Inc. is here to help find solutions to your IRS tax problems.

Offer in Compromise

An Offer in Compromise (OIC) is an out of court agreement between a taxpayer and the IRS to resolve a tax debt. It is a nice option for those who qualify because it allows the taxpayer to settle their tax debt for less than what is owed. Not everyone qualifies for an Offer in Compromise so it is really important that you work with a qualified tax professional that can help you determine if your situation qualifies for this program.

Installment Agreement

When you cannot afford to pay your tax debt immediately, we can help you negotiate an Installment Agreement with the IRS. This type of payment plan option is good those who cannot afford a lump sum payment to cover their tax debt.

Currently Not Collectible Status

If your account is placed into a Currently Not Collectible status, that means that you are protected from collection efforts by the IRS and your account is removed from an active collection status. Obviously there are strict guidelines governing a Currently not Collectible status. We can help you determine if you qualify for this status so that the IRS will not pursue collection on your account as long as your financial situation does not change.

Penalty Abatement

When you fail to pay your taxes on time, you can incur very heavy penalties and interest. For many people, the penalties and interest can add so much to the tax debt that it makes it very difficult to resolve the debt. If you are in this situation, contact us immediately. We have experience representing clients before the IRS to show reasonable cause and have the penalties and interest waived. It is possible to have penalties and interest removed.

If you've been contacted by the IRS, take the first step towards resolution now by calling us at 303-759-3124 now or request a consultation through our website.