About Tax Relief 101

This is a webpage dedicated to those who are looking to get some relief from their tax liability and find out resources that will help you.

I developed this site because I was in a similar situation where I owed a ton of money to the IRS and was searching for a way that I could pay them back without having a 30 year lien to pay back on my credit report.

It began when I filed taxes for the 2005 year after running a business where we sold mortgage loans when times were booming. I had several loan officers that would run loans through the business and where I was on the hook now for extra money since I got part of their commissions.

Well after filing addendum’s and more extensions,  I owed them more than $40K in taxes and penalties from that year. So now fast forward to present times.  I was now making barely making ends meet and having to pack back IRS in monthly payments.

OK so now I started getting all these notices and advertisements from lawyers and firms telling me that they could knock off a huge portion of what I owed the IRS, for a Fee of course, a monthly fee. So I asked “how much” and they said $400 a month, and it will take about 12 months to resolve your case with the IRS. Because, they said (the lawyer agencies) that it takes them that long to resolve your case, because you don’t or can’t deal with the IRS on your own, so we have to be very procedural and make sure everything is done right.

So I said OK.

Then I started to run the numbers on what they were saying. So they would charge me $400 per month for 12 months = $4,800. And then they said they could probably negotiate the terms of my taxes to around $3,500. So then you add $4,800 + $3,500 = $8,300.

Ok so that’s much better than me owing the $40K.

So then I got several other calls and postcards about how all these guys can lower my tax relief for me for a fee.

Well that’s when I decide to look into get my own tax relief and started to find out more about how to negotiate a deal with the IRS.

It’s call an Offer in Compromise.

And once you fill out the required paperwork, and you qualify of course, you can cut your tax relief much a huge margin.