Following a successful appeal by the Taxpayer Advocate Service, the Internal Revenue Service or IRS has agreed to ease the existing policies for taxpayers with low income trying to settle their tax debt, while trying to get tax refunds. The changes were announced by National Taxpayer Advocate, Erin Collins through a blog post. The policy change is applicable for taxpayers who have offers in compromise accepted with IRS against their outstanding tax debt and it adds extra leeway on qualification for Offset Bypass Refunds (OBR). The OBRs can help the taxpayers facing financial difficulties to claim a part of their tax refund to make payments for utility bills and balance tax liabilities. The low-income taxpayers can now have extended time in which they can qualify for OBRs according to the new procedure.
IRS has also agreed
to waive off the current year's tax refunds to the tax liability that has been
agreed upon outlined in the offer in compromise. These changes have been
welcomed by taxpayers with low income who are facing economic hardships as a
result of the inflation on consumer goods such as food and fuel as well as
economic slowdown due to COVID-19. Even the taxpayers suffering financial hardships
who still have their OIC application pending can still seek an OBR. By meeting
the criteria in the Internal Revenue Manual, they can retain the tax refunds.
The low-income
taxpayers who wish to avail of these benefits need to ensure that they have an offer
in compromise from the IRS and National Tax Attorney
(NTA)
can help them in this area. National Tax Attorney is one of the most
sought-after law firms in California and the other States of the USA. They not
only have their office in one or two cities but several cities across the
country. Taxpayers do not need to worry at all while they consider this tax law
firm to solve their case that is related to taxes. The professionals associated
with National Tax Attorney have years of experience and in-depth knowledge in
their relevant fields. Therefore, they are aware of what they do.
Once the taxpayers
reach out to the tax attorneys of the National Tax Attorney, they go through
the entire case and sometimes even ask the taxpayers to submit some documents,
if required. Once they have all the needed information, they take further
steps. They even get in touch with the IRS if need be. If there are too many
actions that have been imposed by the IRS against the taxpayers, the
professionals at the law firm help in removing some of them. Taxpayers, who
want to get in touch with the tax lawyers of National Tax Attorney can visit
their website at https://california.nationaltaxattorney.com/ and get more
information about them.
