Home | What is Tax Debt Resolution?

What is Tax Debt Resolution?

Sep 02, 2022

If you are struggling with tax debt, there is a good chance that you are feeling vulnerable and overwhelmed. The important thing to remember is that you are not alone. Did you know that approximately 11.23 million Americans owe tax debt totaling over $114 billion? It may feel like you are trapped with no hope of escaping this financial hole, but the good news is that with the proper support, it is possible to find tax debt solutions to suit your needs, getting you back on the right track to financial freedom. Let’s look at what tax debt resolution is and isn’t!

What is Tax Debt Resolution?

If this is your first time facing tax debt, you may not have heard of tax debt resolution. With that in mind, let us briefly explain what it means. Tax debt resolution is working with a tax professional like Golden Lion Tax Solutions to find the most appropriate solution to the taxes owed to the IRS or State taxing authorities. The goal of the collaboration with a tax professional is to identify and negotiate the resolution that best fits your current financial condition and your short and long-term goals.

Why Do I Need a Tax Professional?

Now, you may ask yourself why you need a tax professional to help with this. It’s something we hear a lot! Many of our clients have been told that dealing directly with the IRS or State government is cheaper and easier. While it is true that you can go ahead and do this if you choose, it is not something that we advise. The reality is that you have limited knowledge of tax debt solutions; otherwise, you likely wouldn’t be in this situation in the first place!

At Golden Lion Tax Solutions, we believe that knowledge is power, and we have the knowledge gained from over 22 years in this industry. We can help you find tax debt solutions that will work for you and your unique financial condition. Not every solution is suitable for everyone, and if you try to go it alone, you may apply for the wrong option and be rejected, which will cost you more in ongoing penalties and interest being added on top of the current debt owed. We will guide you through the appropriate options allowing you to make an informed decision about how best to proceed.

Our focus is on educating our clients. We will explain the available tax debt solutions and why they might work for you. You will have valuable knowledge to carry forward with you and help you avoid repeating your current situation. If you know how you ended up here, you will be better equipped to avoid those mistakes in the future.

What If I Was Already Turned Down?

Another thing that we hear from our clients regularly is that they have already tried to arrange some form of tax debt resolution but have been turned down. Then they turn to us in a panic that they will be forced to pay in full, which is something they cannot afford to do. The good news is that even if an initial request has been denied, we can still help you to find suitable tax debt solutions.

The thing to remember is that the IRS or your local State tax authority are prioritizing their own best interests, not yours! They will aggressively pursue full payment as quickly as possible. However, as your tax representative, Golden Lion Tax Solutions puts you first. We are looking for tax debt solutions that work for you, not your creditors. We have the knowledge and expertise behind us to negotiate on your behalf, and we don’t take ‘NO’ for an answer! We know how overwhelming it can be to argue your case with government departments! That’s why we are here to support you through the process. We will advocate for you and be your trusted partner at a time when you probably feel vulnerable and overwhelmed. We can work together to get you on the track to financial freedom and start putting those sleepless nights behind you.

What Tax Debt Resolution is NOT

It is essential to understand that when we talk about tax debt solutions, we are not talking about simply making the debt disappear! That is not what tax debt resolution entails, and you need realistic expectations. In some cases, it may be possible to reduce your tax debt liability, but it is rare to write it off in its entirety. We can look at several tax debt solutions and find the one that makes the most sense for you in terms of what you can realistically commit to paying.


Trust. Protection. Wisdom.

Your future and your family deserve the right protection. Golden Lion Tax Solutions will be your advisor and confidant throughout the entire journey. We guarantee to offer you or your business best-case solutions for your tax debt. We are by your side every step of the way. Start now and get your life back.

For help with your tax debts, email contactus@goldenliontaxsolutions.com or call 833-LION-TAX (833-546-6829)

Disclaimer: There are requirements that must be satisfied in order to qualify for some of the tax solutions we discuss on our website. Not all of our services will be suitable for every client. Golden Lion Tax Solutions is here to help you find the most appropriate solution to fit your situation.