Tax relief is a complex issue, and there are many
wrong expectations surrounding it. Here are some of them and the realities you
should be aware of:
Can you get rid
of your tax debt without paying anything?
The short, general answer is no. You may experience
tax relief in terms of having your late payment penalties or even interests
waived, as long as you meet the narrow criteria, but you still owe the unpaid
taxes. You may also be able to lower the total amount through an offer in
compromise.
Can you keep
hiding until past the statute of limitations?
No; that’s tax evasion, and you could get convicted
for that. Although there are limits to how far back the IRS can come after your
debt, these periods vary. It also doesn’t mean you can delay paying years
before you get notices. Better not procrastinate; face your tax troubles as
soon as possible.
Can you
negotiate for tax relief without representation?
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