When the year 2021 rolls around,you may be looking for some Florida tax debt relief to help get you back on your feet. The recent turmoil in the economy has put many people out of work and behind on their bills,so they are looking for every possible way to get themselves out of debt. One option that is available to you is an Offer in Compromise. An Offer in Compromise is one of the most common tax relief strategies available and it allows you to settle your tax debts without paying them entirely,but not by getting any kind of tax relief.
The way that an Offer In Compromise (EOIC) works is that it allows you to settle your back taxes by asking a third party company to agree to settle for less than what you are actually owed. Usually,you would go to a collection agent or a law firm to negotiate these kinds of settlements,but with an Offer In Compromise you can go to a tax resolution firm that will do all of the talking for you. What tax resolution firm works with you depends on the situation. Some firms specialize in offering their clients’ tax relief in situations where they have to settle for less than what they are owed; other firms are available if you just need some back taxes taken care of,but don’t necessarily need to settle for a lot less than you are owed.
If you are looking for Florida tax relief,the first thing you should do is to talk to a tax professional who specializes in Offer in Compromise cases. You need to talk to the Florida Department of Revenue,or the state government,about how much money you need to pay. The IRS is the department that oversees taxation in the state of Florida,and in most cases you will need to file an application to have the tax lien released. Once you file the application,the IRS will process it and then determine whether or not you have to levy your delinquent taxes. If you owe money,and the tax amount is more than you can afford to pay,then the state government may agree to make a compromise on the amount of the tax. If you file an Offer In Compromise,you may be able to settle your tax debt for less,or even have the tax waived altogether.Miami tax relief firm