Installment Agreements
If you can't pay the full amount you owe the IRS, you may be eligible for an installment plan. First, complete the IRS Installment Agreement Request Form 9465. This can be done online if you owe $25,000 or less. The IRS can grant you up to 60 months to pay your tax debt. Within 30 days the IRS should let you know if your request has been approved and what you will be required to pay. You must agree to make these monthly payments on time and also commit to withholding enough from your paycheck to meet your tax liabilities for the current year.

Installment agreements aren't cheap. In addition to a setup fee you will also be charged interest (the Federal Short Term Rate plus 3 percent) and penalties of 1/2 percent on the unpaid balance each month or part of a month until it's all paid. The IRS admits that this can be expensive--the General Instructions section of the form recommends that before requesting an installment agreement you should consider "less costly alternatives."

If all else fails, and the IRS decides that you are unable to make any payment at this time, they may delay collection until your situation improves. (Please note that you must always file your tax return even if you are unable immediately to pay.) However, any payment is better than none at all, and the experts found within the MyDebtRepair network can help you to find the IRS payment plan that is right for you.

Within the MyDebtRepair network, there are exceptional companies that can help you negotiate IRS payment plans.
Wage Garnishment Release
If the IRS garnishes your wages as payment for your federal tax liability, up to 25% of your disposable income on each paycheck can be confiscated to pay off your debt. By law, if a wage garnishment certificate for your funds is approved and ordered by a court, your employer will be required to set aside a predetermined amount of your wages for the IRS. Wage garnishment can make an already difficult financial situation even more desperate, and can be very stressful and embarrassing.

A tax debt expert, like those found within the MyDebtRepair network, may be able to freeze a wage garnishment certificate or arrange for a wage garnishment release. He or she will work with the IRS to solve your debt situation in another way, such as with an Installment Agreement.
Penalty Abatement
If you do not pay your taxes in full and on time, the IRS applies penalty and late fees to the amount that you already owe. These penalties are added to your account automatically by a computerized system. Sometimes it is possible to have these fees overturned or refunded by submitting a request for penalty abatement.

In order for a request to be considered, you must have an acceptable reason for falling behind in your taxes, such as a death in the family, a natural disaster, or a long period of unemployment. In addition, you must show the IRS a commitment or plan for repaying your debt.

It is very difficult to prove your eligibility for penalty abatement to the IRS without the help of a tax expert. Tax companies in the MyDebtRepair network can help you request penalty abatement for your unique circumstances.
Tax Lien
A Notice of Federal Tax Lien gives the Internal Revenue Service (IRS) legal ownership over your property as payment for tax liability. The tax lien certificate may be filed if and only if (1) the IRS assesses your tax debt, (2) the IRS notifies you and sends a demand for payment, and (3) you do not respond in payment within 10 days of notification.

The tax lien certificate grants legal claim to the IRS over all of your property and removes your rights to the property. Your creditors will be notified of the lien, and your credit rating may be harmed. You likely will have difficulty securing a loan.

Tax Lien Release
Fortunately, the notice is in place only until you take action to release it. Your Notice of Federal Tax Lien will be released within 30 days if you pay your debt, have it adjusted appropriately, or provide an accepted bond that guarantees payment.

A lien can be withdrawn if it is determined that the filing was not done according to procedure, if you elect to participate in a payment plan upon the filing of the lien, if payment can be made more quickly otherwise, or if it would be in the best interest of both you and the IRS to do so. Additionally, you have the right to appeal the filing.

You do not want to find yourself with a Notice of Federal Tax Lien over your property. If you do, it is in your best interest to have it released as soon as possible. For help in releasing your lien, or in preventing such a situation altogether, businesses in the MyDebtRepair network are here to offer their expert advice.

Property Seizure
In very serious, ongoing cases of tax debt, the IRS may utilize property seizure. When the IRS believes that monetary value can be obtained from your asset(s), it will determine how much equity is in an item such as a car, boat or home. If the equity is over 20%, your property may be taken and sold at an auction as payment for your debt.

Property seizure is not very common nowadays, as it is often not valuable. If you own a home worth $100,000 with a $90,000 mortgage, for example, then the equity is low and seizing it might not be worthwhile. Home and business seizures in particular are especially rare, but they DO happen.

If you receive a notice of seizure, or if you think that your debt situation may be leading to such action, you should contact a tax professional. On MyDebtRepair.com, you can find a company on our extensive network that will work for you, to find your debt solution.

Bank Levy
A bank levy essentially funnels the money in your bank account(s) to the IRS. When the IRS serves a levy to your financial institution, all of the money in your account(s) at that moment, up to the amount that you owe in tax debt, is removed by the bank. Leaving you little or nothing, the bank must send this money to the IRS. Even the interest earned during the transition time must be sent.

It is very difficult to get a refund after your money has been seized by the IRS. Fortunately, there is a holding period of 21 days before the bank sends your money, during which time it is crucial that you work with a tax expert to implement a new solution for reconciling your tax debt.

A bank levy can be devastating to your everyday life. Within our network of resources and expert advice at MyDebtRepair.com, you can find a company or agent to help you prevent a levy on your accounts, release a levy within the holding period, or attempt to retrieve your money from the IRS.
Wage Garnishment Release
If the IRS garnishes your wages as payment for your federal tax liability, up to 25% of your disposable income on each paycheck can be confiscated to pay off your debt. By law, if a wage garnishment certificate for your funds is approved and ordered by a court, your employer will be required to set aside a predetermined amount of your wages for the IRS. Wage garnishment can make an already difficult financial situation even more desperate, and can be very stressful and embarrassing.

A tax debt expert, like those found within the MyDebtRepair network, may be able to freeze a wage garnishment certificate or arrange for a wage garnishment release. He or she will work with the IRS to solve your debt situation in another way, such as with an Installment Agreement.
Business Tax Debt Relief
Business owners have more responsibilities to the IRS than just filing income taxes as individuals; they also must pay on behalf of their company. Just as individuals sometimes have difficulty paying their income taxes to the IRS, both large and small business owners are sometimes in need of business tax debt relief. In general, there are four types of business taxes for which employers are responsible:

Income tax - Whether gathered through withholding from employees or otherwise, employers (with very few exceptions) must pay an income tax for their company. Usually this is done throughout the year, as money is earned. If you fail to pay enough, you may have to pay an estimated income tax, which is not in your best interest.
Self-employment tax - This tax is for people who work for themselves, and includes Social Security and Medicare.
Employment taxes - Employment taxes are paid by the business owner on behalf of his or her employees. These include Social Security, Medicare, Federal Income Tax and Federal Unemployment Tax.
Excise Tax - Excise taxes are bestowed on businesses that specifically manufacture, sell, or use certain products or services that require taxing. The cost of these taxes is often included in the price paid by the customer.
If you are having difficulty paying state or federal taxes for your business and would like the help and advice of a tax professional about collections procedures, installment agreements, penalty abatement, or other tax issues, MyDebtRepair is the source for you.

Within the MyDebtRepair network, you can find a tax expert who will help you discover business tax relief.

Payroll Taxes
Employers in the United States are required by law to withhold certain payroll taxes from the paychecks of their employees, and to remit these taxes to the government. Payroll taxes include both federal and state income taxes, social security, and Medicare.

Sometimes employers neglect to pay the proper amount for all of their employees, which can result in back taxes attributed to employees. If there is a discrepancy between the taxes that you have had or should have had withheld and the amount received by the IRS, a tax professional can help you resolve any resulting debt.

Within the MyDebtRepair network, there are exceptional companies that can help you to settle debt resulting from payroll taxes with the IRS.