Do you feel disturbed and uneasy to open those IRS statements and requests? Does it feel irritating to work out your financials to file your taxes? The truth is these are necessary steps required for the proper functioning of the government and for the proper levying of all people for the services that they use. The commonly faced problems by taxpayers are Penalties, Audits, IRS bills, and Unfiled returns. Most tax problems can be solved through proper organization and timely interaction with the IRS. Let us look at some of the ways through which you can solve or mitigate your tax problems:

1. Understanding the scenario and your position in it

Get to analyze your situation with the IRS in much detail. Once you get to know what type of problem you are in, figure out the next appropriate step that you have to take for getting out of the problem. If you have a legal consultant, then it would be advisable to contact them as they would have a better understanding of what to do and will help you in getting contact with the right people. If you’re stuck within a problem that is pertaining to international laws, consulting personnel who are international law attorneys will immensely help you.

2. Organizing your financial load

A key aspect of solving any sort of taxation problems would be by organizing your financials in place. All transactions made by you should be filed and reasoned for, in the off chance that you or your company is scrutinized by the IRS for it. Keep a constant track of where your money is going and how. Maintain a detailed ledger containing all your financial endeavors, keep in mind that a centralized datasheet having all of your transactions will make it easier to prove your status in front of the IRS as well as help you in having knowledge of your money’s whereabouts. If you want to steer ahead of any sorts of legal troubles, it is advisable that you keep consulting your lawyers on this matter.

3. Contact the IRS regarding your situation

The number one lead during a problem like this is to keep close contact with the IRS on the status of your situation. Ask them to guide you through the problem face and what to do next. The IRS will also be keen on keeping contact with you as this will allow them as well to keep things as smooth as possible while solving a taxation crisis. Keep decent connections within the IRS even when you do not have any major taxation issues, this will help you later on during consequent tax audits. Maintaining a good rapport with the IRS will go a long way in helping you out with the problems faced even in the future.

4. Hiring international tax law firms

Another way of handling your headache regarding your taxation problems is by searching for international tax law firms that can be hired for solving them. They work on different degrees for different cases and will provide you with crucial hindsight from previous such cases and help out in sorting yours. Remember not to hide anything from these law firms as they are here to help you. These law firms will have deep connections within the IRS as well, which will allow your case to propagate forward much more easily.

5. Know your payment options

When it comes to the payment of your taxation, it is essential that you are fully aware of the methods through which you can pay the IRS. The commonly offered payment options by the IRS are:

  • Full payment: As the name suggests, the full payment option requires the person to pay the IRS in a complete lump sum amount. This is the simplest method of payment if you’re able to afford it.
  • Payment in installments: For most people, paying the total tax request at a time is not affordable. Hence, there are installment schemes in place, so that you can pay the taxes required by the IRS at your own pace. Usually, the taxation authorities will request a huge payment amount at a monthly interval, therefore consulting an international law attorney would be a smart choice as they can negotiate the installment agreement to a reasonable one.
  • Offer in Compromise: Being one of the rare payment options offered by the IRS to the people. The OIC option is provided when the amount of tax levied by the authorities exceeds the Reasonable Collection Potential (RCP). The amount at which the RCP is crossed is determined by various financial tools used by the IRS.

All in all, remember that the key is in organizing everything and keeping good relations with the IRS. If you feel like things are getting over your head then make sure that you hire an international law attorney or an international tax law firm as they will be able to guide you in the right direction