Are You Eligible to Settle Tax Debt with the IRS? 

The United States tax system operates on voluntary compliance, meaning that the Internal Revenue Service assumes taxpayers will honor their commitment to pay the taxes that are due each year. In a typical year, the vast majority of the 150 million individual tax returns processed by the IRS will be handled without any problems.

Unfortunately, some taxpayers get into a tax problem by purposely not meeting their income tax debt. In other instances, due to unfortunate personal circumstances, they cannot meet their tax debt obligation in an allotted time frame. Not meeting this responsibility triggers a series of collection activities that could lead to serious repercussions.

What are your Tax Debt Rights and Responsibilities?

It’s important for every taxpayer to know their rights and responsibilities when it comes to meeting their tax debt obligation. :

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Accuracy – A taxpayer or their designated tax professional must submit accurate information that is used as the basis to calculate an appropriate income tax debt. Keeping good records is an important part of this responsibility.
Honesty – Lying to the IRS can create problems far beyond any IRS tax debt problem.
Cooperation – Taxes are inevitable, and the higher the degree of cooperation between a taxpayer and the IRS, the more smoothly the process will go.
Timeliness – A taxpayer or their tax professional must know what deadlines and tax laws are in place, whether it’s making quarterly estimated payments, how long of an extension they may be granted, or any other number of dates that may apply to a particular situation.

On the flip side, taxpayers do have several rights as well. In fact, the Internal Revenue Service has adopted a formal Taxpayer Bill of Rights. It summarizes dozens of existing codes and laws into 10 fundamental rights to make this information more clear and understandable for taxpayers. Those fundamental rights include:

The right to be informed
The right to quality service
The right to pay no more than the correct amount of tax
The right to challenge the IRS’s position and be heard
The right to appeal an IRS decision in an independent forum
The right to finality
The right to privacy
The right to confidentiality
The right to retain representation
The right to a fair and just tax system

The IRS maintains a taxpayer advocate service that further details the Taxpayer Bill of Rights. It can be accessed at IRS Taxpayer Rights website.​

Daniel Cullinane CPA

25 Plaza 5 25th fl Jersey City NJ                                          phone 732-516-1648 fax 732-516-9778

MBA Taxation

Daniel Cullinane CPA

2500 Plaza 5 25th fl  Jersey City NJ 07311                                                          phone 732-516-1648  fax 732-516-9778

                 MBA TAXATION                                                                                                         

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