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Tax debt relief is a way the government helps you when you can’t afford to pay your tax bill. This comes in the form of a payment plan or a settlement in which the IRS agrees to settle your tax ...
A goodwill letter is a formal letter sent to a creditor, lender or collection agency to request forgiveness for a late payment or other negative item on your credit report. In the letter, you ...
Step 2: You’ll need to complete and sign the borrower assistance form and Form 4506-C from the IRS, which allows the lender to request a transcript of your tax return.
Depending on the country, different laws regulate professional debt settlement companies. In the United States, debt relief companies are required to provide information in advance of a consumer signing up for the services, including the cost and the terms. A legitimate company will use a Federal Deposit Insurance Corporation-insured trust ...
An undue hardship is an American legal term referring to special or specified circumstances that partially or fully exempt a person or organization from performance of a legal obligation so as to avoid an unreasonable or disproportionate burden or obstacle. [1] [2] [3]
Private letter rulings (PLRs), in the United States, are written decisions by the Internal Revenue Service (IRS) in response to taxpayer requests for guidance. [1] A letter ruling is "a written statement issued to a taxpayer by an Associate Chief Counsel Office of the Office of Chief Counsel or by the Tax Exempt and Government Entities Division that interprets and applies the tax laws to a ...