If you have an issue or matter with the IRS, you may wonder what your options are to resolve such issue. Thus, what is an IRS tax resolution and what resolution options are available? The article and video below have been prepared by a tax attorney to provide their opinion regarding what is an IRS tax resolution.
A “resolution” indicates that a problem or dispute has been resolved, or is being resolved. Thus, in my opinion, an IRS tax resolution is when an IRS problem or dispute such as a tax audit or tax debt is resolved. In terms of a tax debt, this debt could be resolved with an IRS payment plan (IRS installment agreement), an offer in compromise, having the debt placed in a currently non-collectible status and/or with a penalty abatement. In terms of a tax audit, such resolution could be working with the auditor and receiving a no change letter, which means the IRS does not plan to assess additional tax for the tax period. Further, a resolution to an audit could come in the form of successfully negotiating with the auditor regarding an item or items, or in regards to a specific section of the Internal Revenue Code or Treasury Regulations and the application of such law.
An IRS tax resolution could also come in the form of preparing tax returns. Perhaps the IRS filed a substitute return for a taxpayer, and filing an actual & correct tax return will resolve the matter. Furthermore, a resolution could come about through requesting innocent spouse relief or equitable relief depending upon the taxpayer’s circumstances. If you have a tax matter before the IRS, contact a Denver tax attorney at The McGuire Law Firm. Please view the video below for additional information.
Call The McGuire Law Firm and schedule a free consultation with a tax attorney in Denver, Colorado or Golden, Colorado.