Question 1

How much does tax resolution cost in Newfoundland PA?

Accepted Answer

Tax resolution fees vary based on the complexity of your case and which resolution strategy works best for your situation. Simple cases might resolve for a few thousand dollars, while complex multi-year cases with multiple tax types can cost more. Here's what matters more than the upfront cost: the money we save you. If you owe $50,000 and we get it settled for $5,000 through an offer in compromise, you've saved $45,000 minus our fee. Most clients save far more than they pay us. We provide a clear fee structure upfront with no hidden costs. If you engage our services, we credit 100% of your consultation fee toward your resolution work. This way you know exactly what you're paying and why it makes financial sense.

Question 2

Can the IRS really take my house in Newfoundland?

Accepted Answer

Yes, the IRS can seize your home, but it's not their first choice and there are ways to prevent it. They typically start with bank levies and wage garnishments because those are easier and faster. Property seizures usually happen when someone ignores the problem for years and the IRS has exhausted other collection methods. Even then, they have to follow specific procedures and give you multiple opportunities to resolve the debt before seizing your primary residence. The key is addressing the problem before it reaches that point. Once we're involved, we can often get a stay on collection activity while we negotiate your resolution. We've helped many Newfoundland homeowners keep their homes by setting up affordable payment plans or negotiating settlements that work within their budgets.

Question 3

What is an offer in compromise and do I qualify?

Accepted Answer

An offer in compromise lets you settle your tax debt for less than the full amount you owe—sometimes pennies on the dollar. But the IRS doesn't accept these offers just because you ask nicely. You have to prove you either can't pay the full amount or that paying it would create a financial hardship. The IRS looks at your income, expenses, assets, and future earning potential to determine what they can realistically collect from you. If that amount is less than what you owe, you might qualify for an offer in compromise. Most people who think they qualify actually don't, and most people who don't think they qualify actually do. It requires a detailed financial analysis and knowing exactly how to present your case to the IRS. We use specialized software and years of experience to determine if an offer in compromise makes sense for your situation and what amount the IRS is likely to accept.

Question 4

How long does tax resolution take in Pennsylvania?

Accepted Answer

Simple cases like setting up payment plans can resolve in 30-60 days. More complex cases involving offers in compromise or currently not collectible status typically take 6-12 months, sometimes longer if there are complications. The timeline depends on several factors: how quickly you provide required documentation, which IRS office is handling your case, and whether there are any disputes about the amount you owe. Cases involving multiple tax years or business tax issues generally take longer than individual income tax problems. What's important is stopping the collection activity as quickly as possible. We can often get levies released and wage garnishments stopped within days of taking your case, even while the overall resolution is still being negotiated. This gives you breathing room and protects your assets while we work out the long-term solution.

Question 5

Will tax resolution hurt my credit score?

Accepted Answer

Tax liens can damage your credit score, but the resolution process itself typically helps rather than hurts your credit. Once we resolve your tax debt, any federal tax liens get released, which gradually improves your credit score over time. The bigger issue is what happens if you don't resolve your tax problems. Ongoing collection activity, additional penalties and interest, and potential asset seizures can devastate your financial situation and credit score far more than the resolution process itself. Many clients see their credit scores improve within 6-12 months after resolving their tax problems because they're no longer dealing with active collection accounts and can focus on rebuilding their financial health. The key is addressing the problem quickly before it causes more damage to your credit and financial stability.

Question 6

What happens if I can't afford the IRS payment plan?

Accepted Answer

If you truly can't afford any payment plan, you might qualify for currently not collectible status. This temporarily stops all IRS collection activity while you get back on your feet financially. The debt doesn't go away, but the IRS can't garnish your wages or levy your accounts. Currently not collectible status works well for people dealing with job loss, medical emergencies, or other temporary financial hardships. The IRS reviews your status annually, so if your situation improves, you'll need to start making payments again. Another option is negotiating a partial payment installment agreement, where you make payments for a set period and the remaining balance gets forgiven. This works when the IRS determines they can't collect the full amount before the collection statute expires. We analyze all these options to find the one that works best for your specific financial situation.

Tax Resolution Newfoundland, PA