Tax Relief

Tax relief can mean two different things. One is tax relief offered by governments for special cases. The other is relief from an accumulated (personal or corporate) tax burden. In the first sense, tax relief can mean exceptions or changes to tax rules to give taxpayers relief in taxes they have to pay. For example, if you live in an area that was hit by a natural disaster (such as a hurricane) you may qualify for tax relief initiatives. Before filing your taxes check the IRS website and search for "tax relief" - you will find a list of links.

Our focus on this page is for people looking for relief from taxes owing. Getting tax relief might be part of credit counseling or bankruptcy relief. If this applies to you please take some quick advice from Tax Prep 101.

Before going any further into debt, prioritize your debts. Tackle the most serious first. If you own money to the IRS it can of course be quite serious. If you owe money to the gas company it may be pressing too.

Don't borrow money to pay off debts without thoroughly planning how you are going to pay off debt. One of the worst things you can do is borrow money on your credit card (at 18% annual interest rate) to pay off debts that have a much lower interest rate.

The best advice we can give: get help. Bankruptcy is one of the most difficult crises you might ever put yourself through. Avoid it by getting good credit counseling for problems such as tax relief. Many companies offer a free consultation, especially for tax relief. They can help pay off debts. These companies offer a perfectly legal, fair solution that will give the IRS what it wants while at the same time giving you the tax relief you need.

For more information, please see our page on Tax Resolution.




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