How much do you know the IRS Office, Tampa?
Well, the IRS is an agency of the Department of the Treasury. It is a part of the list of the World’s most skilled and efficient tax administrators. During the year of 2015, the IRS Tampa had a lot of revenue which came out in billions and had processed millions of tax returns. Basically, they are here to take your taxes. The IRS in Tampa and anywhere else in America offers the location with the high-quality service to the taxpayer (You wish!). According to their mission, they help their clients by assisting them in understanding their needs and meeting their tax responsibilities. Moreover, they are said to enforce laws with fairness and integrity to everyone.
Confused? Well, to explain in a much easier way, the Tampa IRS office is basically a taxpayer for the citizen of the city. Their basic role is to assist the huge majority of the adaptable taxpayers with the laws of the Tax. They are also in charge of making sure that the minority who are not willing to comply, pay their share fairly.
Moreover, they are like a government agency where they have to take care of any responsibilities that the Secretary of Treasury has and is under the Internal Revenue Code of the section 7801. The IRS in Tampa has the rights to enforce and administer the internal revenue laws. Moreover, there is enough of power that the Secretary has where it can even open an agency so that the laws can be enforced. And that is how the IRS Tampa was created.
Now let us stop talking about the IRS office Tampa and get to the options you get when you owe them and how exactly can you return it back.
Owe the Tampa IRS Office?
Do you owe the IRS Tampa Office? And do you know how you can return it back to them? Have you checked all the options? Well, you are familiar with the fact that getting a bill from the IRS Office Tampa is really stressful. It is not being said that everyone gets a bill. Even though a lot of the people out there get the refund, there are some who get the bill instead. It can be a person or a business who gets it. If this happens to you, do not be nervous and freak out. There are a lot of options that you can look at and choose from. The list has been shared for you below:
Credit Card to Pay the Tampa IRS Office
You can use your credit card to get a loan from the bank and pay the amount you owe the IRS Office Tampa. Basically, the amount of the interest rate on the credit card loan is much lower than the penalties and the late fees that the IRS Office charge.
Direct Loan from the Bank to Pay the IRS Tampa Office
You can also take a loan from your bank and pay what you owe the IRS Tampa office. Just like the credit card this too has a really low-interest rate as compared to the high penalties and amount of late fees.
Additional Time to Pay the Tampa IRS Office
If there is a need to get extra time so that you pay them what you need to later on after the given extra time, you can contact the IRS Tampa office. After this, request for up to 120 days even though you feel you can pay in just 90 days. This would give you the maximum time and would even let you pay all you owe them back. Moreover, the best part is that they do not charge anything for this. But there might be an interest rate or a penalty fee on this.
Installment Agreement to Pay IRS in Tampa
Get an Installment agreement! What is it? Well, it is an acknowledgment between IRS and you where you agree to pay the amount that is due in installment s every month. Moreover, so that you can do this, you must have already filed the returns that were required and even be up to date with the considered tax payments. But there is one thing that the IRS Office Tampa does, and it is that you would have to pay a one-time fee. Moreover, it might be reducible if you choose the option to give the payments through your bank with direct debits. Another reason will be if you are a low income taxpayer according to the IRS Tampa Office’s requirements.
And if you owe then just about $50,000 or anything less than it after you have added in all the taxes, penalties and even the interest in it; you can easily ask them for an installment agreement online. All you would need to do is fill in the Online Payment Agreement Application form that you would find on their website.
Vital Notes about the IRS Office Tampa that must be kept in Mind
Keep these notes in mind before you take a step or connect with us at Tax Law Tampa:
- After you have created the installment agreement, the IRS might register for the Federal Tax Lien notice for the security of the interest of the Government. This would be until you give the entire payment till the end.
- If you are able to pay the entire payment together or with the payment agreement, there can be chances that the IRS Office Tampa would not accept your offer due to your liability.
The Compromise Offer with the IRS in Tampa
If you have tried out all the choices that have been mentioned and still there is no chance you can pay your taxes that you owe the Tampa IRS office, or if paying them would cause you a lot of hardship financially, there is a thing called the Offer in Compromise with IRS. This would permit you to resolve your debts in a lesser amount than the amount you owe them. But this too is done with the follow information through with the IRS Office in Tampa makes their consideration.
- Asset Equity
- Ability to Pay
The Collection Process Temporary Delay by the IRS in Tampa
If the IRS Tampa Office discovers that you are not able to pay the debts of the taxes, a temporary delay takes place. They would report your account where you would be noted as not collectible currently. This lets your tax liability to get temporarily suspended till you are able to pay. This is resumes when your financial condition improves. Moreover, you need to keep this in mind that the debt never vanishes. It is still there.
Moreover, all the debts would be added on with the interest fees as well as the penalties until you have given the complete amount you owe the IRS Office Tampa. You might also get the notice of the Federal Tax Lien so that they can secure the interest of the government that is in your property. For this, they would need your collection information statement and your financial status as proof so that you can get the approval.
Steer clear of the Interest and Late Penalties by the IRS Office Tampa
Keep it in mind that you need to take action of the Bill that you get as soon as possible. This would help you avoid all the penalties and the late fees. For more help or if there is some misunderstanding you can contact a lawyer to help you out and take care of your case perfectly well. Visit the https://www.taxlawtampa.com/for more details today!