Voluntary Payment Agreement

The Voluntary Payment Agreement allows the highly negligent tax payer a path toward tax redemption. Usually requested by a criminally negligent corporate officer or business owner, it allows the worst offenders to come forward, confess their tax improprieties and potentially pay a reduced amount of their overall tax liability.

Defining the Voluntary Payment Agreement

Voluntary payment agreements are usually attached to situations where huge criminal prosecutorial possibilities loom after known fraudulent activity has been committed. In certain circumstances, this agreement allows you to come clean about your years of extreme tax reporting abuses. These agreements are for persons trying to avoid the most severe penalties that the IRS can dole out to an offender. It is similar to a plea bargain agreement in criminal law.

The Hottest Hot Water

What mainly distinguishes the Offer in Compromise and the Voluntary Payment Agreement is the temperature of the hot water that precedes them. Seekers of an offer in compromise usually do not have criminal prosecution hanging over their heads. However, with the voluntary payment agreement, criminal tax offenders can “fall on their sword,” plus, like seekers of the offer in compromise, can negotiate for a reduced tax liability amount, void of the interest and penalties normally attributed — and most importantly, without time served.

Voluntary payment agreements are mostly requested by employers or business owners. Agreements usually derive from extreme cases of  trust fund or payroll liability abuse, employee misclassification as independent contractors, or tax liability owed from a decade of underreported or unreported income. If a criminally negligent taxpayer promises strict compliance going forward, a voluntary payment negotiation is often possible to reduce a considerable amount of their extreme tax debt.

Tax Debt Relief Now

If you or your company has been profoundly negligent in tax compliance, you may want to discuss the particulars of a voluntary payment agreement. Financial redemption could be possible.  Punitive redemption could be possible. Crafting a plan for a clean start could be available. With our services, expertise and experience, you have found one of the best tax debt relief companies in the area.

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