Easily Remove Option Choice to the Agreement To Extend Debt Payment

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How to Remove Option Choice to the Agreement To Extend Debt Payment

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welcome back to our Channel clear belly tax my name is Brian Kim Im a certified public accountants and today we will be discussing how to get out of a penalty with the IRS or state so this video will cover personal taxes if were talking business taxes and penalties for businesses thats a whole separate animal and were not gonna get into n this video this is covering just personal taxes so you most likely receive the penalty for the three most common ones are late filing penalty late payment penalty and an underpayment penalty under payment penalty is regarding you not sending in estimated tax payments or just having a large balance due so those are the three penalties that this video will be covering on how to get out of the penalty okay so what you need to do is give reasonable cause so that is the key word you need to give reasonable cause you need to give a good excuse and your excuse has to have a reasonable cause okay so what are the most common reasonable cause excuses that w

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

Contact us

How can I remove my debt without paying it off?

Bankruptcy is your best option for getting rid of debt without paying.

Is cancellation of debt good or bad?

Unless debt cancellation comes in the form of bankruptcy or debt settlement, cancellation of debt doesnt always impact your credit score. However, debt cancellation may not be all good news for you. In some cases, you may have to pay taxes on canceled debt, as the government may consider it taxable income.

How do I opt out of debt relief?

If you would like to opt out of debt relief for any reasonincluding because you are concerned about a potential state tax liabilitycontact your loan servicer by phone or email and tell them that you dont want to receive one-time student loan debt relief.

Why do I keep getting calls from debt relief?

Debt Relief Service and Credit Repair Scams Some debt relief scams even tout their services using automated robocalls to consumers on the Do-Not-Call List. Auto loan modification scams falsely promise that they can reduce consumers monthly car loan or lease payments to help them avoid repossession.

Can I cancel debt cancellation agreement?

That you have the right to cancel the debt settlement contract at anytime without any penalties. That any of the funds that are placed in escrow account are your funds that you are entitled to unless they were earned by the debt settlement company.

Can I opt out of a debt settlement?

The money you pay into a settlement account is yours! Money that a debt settlement company asks you to set aside in an escrow or settlement account belongs to you. You may cancel the account at any time, and the escrow company must refund all of your money minus any fees the settlement company legally earned.

How do I get my debt Cancelled?

Cancellation of debt (COD), sometimes referred to simply as debt cancellation, occurs when a creditor relieves a borrower from a debt obligation. Debtors may be able to negotiate with a creditor directly for debt forgiveness. They can also have debts canceled through a debt relief program or by filing for bankruptcy.

What happens if I dont pay my debt management plan?

Missing a payment will mean your creditors dont get the monthly payment theyre expecting, which may mean they decide to stop co-operating with your DMP. Dont bury your head in the sand, as this will only make the problem worse.

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