Paying taxes is required but understanding the tax regulations and nuances can be confusing. Consulting a tax professional is always an option and additional resources such as the Taxpayer Advocate Service (TAS) and Tax Counseling for the Elderly (TCE) are available. Tax debt can feel like something you are unable to escape but there is help and an Offer In Compromise (OIC) may be the solution. There is an easy-to-follow guide that can assist with your path to resolve tax debt.
Taxpayer Advocate Service (TAS):
The Taxpayer Advocate Service (TAS) is an independent organization within the IRS. TAS is present to ensure that all taxpayers are treated fairly and to protect taxpayers’ rights under the Taxpayer Bill of Rights. The Taxpayer Bill of Rights is intended to assure that taxpayers only pay the amount of tax legally due and tax payments are applied correctly.
The IRS provides a Taxpayer Advocate for certain taxpayers that qualify to assist with tax preparation and tax counseling services. The Volunteer Income Tax Assistance (VITA) program can help taxpayers who earn $64,000 or less, have disabilities or are considered “limited English-speaking”. The volunteers can assist with preparing basic tax returns that include those with W2 income, some interest and dividend income and a variety of other items but do not handle more advanced circumstances like complicated Schedule C’s and D’s. VITA sites are often located in a library or school and can be found by going to the VITA Locator tool.
Tax Counseling for the Elderly (TCE)
The Tax Counseling for the Elderly (TCE) program can assist taxpayers who are age 60 and older. The volunteers are able to assist with questions regarding pensions and retirement issues. The TCE sites are largely operated by the AARP Foundation’s Tax Aide Programs and the location of a site can be found between January and April by using this AARP Site Locator Tool.
Once the tax preparation is complete using the VITA and TCE programs, the e-filing is free of charge. Not all VITA/TCE sites offer filing services so be sure to verify this is available.
Tax Debt
If you have tax debt, the Taxpayer Advocate Service can be a resource and provide information to understand the IRS Collection process. People who owe money on their taxes can work out a deal with the IRS through the Offer in Compromise program. It is important to know that certain requirements must be met in order to be qualified for this program. We have tried to simplify this process for you and have a very cost-effective solution to assist with filing an Offer in Compromise (OIC).
This is a step-by-step easy to follow guide that will walk you through the forms necessary to submit an OIC and get started on resolving tax debt. For a very reasonable cost of $299, you can purchase this DIY guide to complete the necessary IRS forms and submit an OIC.
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