Florida residents looking to reduce their taxes have a resource to turn to for information and help with their Florida tax relief options. The Internal Revenue Service or IRS is the chief source for general tax education. The tax code is the biggest law on the planet and every citizen should know how to read it. All who pay taxes must understand that there are ways to lessen the tax burden and go about doing it. In fact, it is the job of the Internal Revenue Service to educate taxpayers on tax alternatives.
The Internal Revenue Service offers several different programs that will give taxpayers options for paying taxes including: Offer in Compromise (OIC); Installment Agreement, Currently Not Collectible (NCN); and Currently Valuable (VVC). FICPA recommends that taxpayers continue to research each of these tax relief programs and learn as much as possible about each one before making a decision on which tax debt resolution they may choose. There is no tax relief that can occur without an OIC; if you have an OIC, consider going with a compromise program, however if you do not, you can explore other options.
Another great resource for Florida tax relief is the University of Florida’s law school. Each year the school educates thousands of new tax lawyers for their clients. Tax attorneys, who have completed the UFA’s tax courses and attend the seminars, are often hired by the IRS to work at the taxpayer’s side throughout the case. This is another great resource for Florida taxpayers that need help with the state’s income tax issues. The university also provides resources for preparing your federal and resident state income tax returns and prepares informational publications regarding tax issues specific to your state.