Tools

Understand the Basics of Tax Debt Relief with Our Easy-to-Use Tools and Resources

Are you facing more than $10,000 in IRS debt? If you’re wondering if you should use a tax debt relief firm or attempt to seek tax forgiveness on your own, the tax relief experts at Solvable have put together a collection of tools that can help you make the right decision.

Even if your tax debt is smaller than $10,000, you might be wondering how to file for tax relief on your own, without the help of a tax attorney or other professionals. Our tools will help guide you to the right answers.

Using proven processes, our debt relief tools can help you get a better handle on your situation, find a reputable tax debt relief firm, or help you avoid wage garnishment and pursue tax relief on your own.

You can find out:

  • How bad is my debt situation?
  • How much does debt relief cost?
  • What will it take to pay off my tax debt?
  • Do I qualify for an offer in compromise?
  • How much can I reduce my tax debt with an offer in compromise?
  • How much will it cost to hire a tax attorney or work with a tax debt relief firm in my area?
  • How much money can I save?
  • Which tax debt relief firms can I trust – and which ones are scams?

Solvable’s tools help you understand the basics of IRS debt, discover your options, and – should you decide to enlist professional help – assist you in finding a reputable tax relief firm.

Debt Checkup

Our debt checkup calculator can offer perspective on your tax situation.

How does your IRS debt stack up compared to others in your state – or in the rest of the country? Is it likely you’ll qualify for tax relief?

How long before you’ll pay off your tax debt?

Not only does our debt checkup help you get a handle on your IRS debt, but it helps you evaluate your overall debt burden.

If your debt-to-income ratio, not counting your home mortgage, exceeds 40%, you may want to consider small changes that can help you pay down your debt faster, stop wasting money on high interest charges, and take steps toward financial freedom.

The reputable debt relief companies you can find on Solvable can help you get there.

Scam Reports

Solvable’s scam reports help you identify debt relief companies and tax debt relief firms that have been banned by the IRS or Fair Trade Commission (FTC) from providing debt relief services to businesses or consumers.

The list includes tax attorneys, IRS enrolled agents, tax accounts and CPAs who have violated tax law and proven to be disreputable in their business dealings. Working with any of the businesses or individuals on our up-to-date list could create even more financial hardship at a time when you need intelligent help and empathetic support.

Price Tool

You may realize that the right tax relief firm can save you tens of thousands of dollars or more by helping reduce your IRS debt. But how much is it going to cost?

Our price tool can estimate your costs for a reputable tax debt relief firm in your area based on how much IRS debt you owe.

Offer in Compromise Calculator

When you file an offer in compromise with the IRS, your amount of tax debt could be reduced to what you can reasonably afford to pay. That’s why it’s so important to have a good handle on your finances – including your income and expenses – before you file.

Our offer in compromise calculator helps you calculate your income and expenses down to the penny to see how much of your tax debt you can afford to pay.

If you don’t qualify for an offer in compromise, you might be able to negotiate a partial pay installment agreement or even currently-not-collectible (CNC) status.

Offer in Compromise Script

So, you’ve completed all the calculations and filled out the paperwork for an offer in compromise. When it comes to calling the IRS to negotiate, what you do say?

For taxpayers who want to negotiate with the IRS on their own, without the benefit of a tax attorney or tax relief firm, having a prepared script can help.

Solvable’s tax debt relief experts know the exact words to use and what to say to increase the chances that the IRS will accept your offer in compromise.

If you’re a little nervous about negotiating with the IRS on your own, simply practice this script and then follow it when you make that life-changing call.

Offer in Compromise Worksheet

Don’t let our easy-to-use tools fool you. Filing for an offer in compromise to settle your tax debt with the IRS can get complicated.

Our offer in compromise checklist walks you through every step, so you are fully prepared when you make that phone call.

Review our checklist to see if you may qualify for an offer in compromise. Then find out what information you’ll need to gather before you make an offer. Finally, find out what IRS debt relief forms you’ll need to download and complete to file correctly.

Trying to resolve IRS tax debt on your own can be scary. We try to break it down as simply as possible with step-by-step directions.

And remember, if you find do-it-yourself tax relief is too confusing, too stressful, or simply doesn’t get you the results you’d hoped for, Solvable can connect you with a reputable tax debt relief firm who can help you take those first steps toward financial freedom.