Tuesday, September 21, 2021

THE PROS AND CONS OF APPEALING AN IRS DECISION

Tax Debt Help

After you have dedicated your time and energy to earning a lucrative income, an IRS tax liability increase can seem unfair. For those in Houston, Texas that abide by tax laws, getting a notice that you owe more than you believed is particularly hard to accept.

Fortunately, you have rights that can help you resolve your tax issues. One of the most beneficial of these is the right to appeal a decision handed down by the IRS. However, appealing your IRS case comes with disadvantages as well as advantages. It is critical to understand these so that you will make the best decision to protect your assets.



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What are the benefits of appealing an IRS decision?

Most people do not appeal decisions made by the IRS, likely because they do not believe they can win. It might surprise you to know that your odds of a successful appeal are pretty high. On average, an IRS appeal reduces tax liability by about 40%. Other benefits of appealing include:

It costs zero dollars

It can eliminate or reduce previous tax liabilities

It is an easy process

Appealing IRS decisions can also extend the deadline for when your taxes are due, giving you more time to gather the necessary funds.

 

What are the downsides of an IRS appeal?

There are few disadvantages of initiating an appeal. One downside is the risk of an appeals officer uncovering previously missed tax liabilities, which will increase the amount you owe. The other disadvantage is that penalties and interest on your balance continue to accrue during an appeal. If you do not win the case, you may end up owing more than you did before you appealed

Increasing your knowledge of federal tax laws and IRS appeal regulations can add strength to your case.

GET TAX RELIEF HELP TODAY

If you think that you may need help filing your 2014, 2015, 2016, 2017, 2018, 2019 & 2020 Form 1040 tax returns or past due tax returns, you may want to partner with a reputable tax relief company who can help you get the max refund and reduce your chances for an IRS AUDIT.

 Advance Tax Relief is headquartered in Houston, TX. We help many individuals just like you solve a wide variety of IRS and State tax issues, including penalty waivers, wage garnishments, bank levy, tax audit representation, back tax return preparation, small business form 941 tax issues, the IRS Fresh Start Initiative, Offer In Compromise and much more. Our Top Tax Attorneys, Accountants and Tax Experts are standing by ready to help you resolve or settle your IRS back tax problems.

 

Advance Tax Relief is rated one of the best tax relief companies nationwide.

 

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