Understanding Collections Hold / Extensions

Collections Hold / Extensions are provisions that can temporarily halt or extend the IRS collection process on your tax debt:

• Collections Hold: If the IRS determines that you’re currently unable to pay any of your tax debt due to financial hardship, it may temporarily delay the collection process until your financial condition improves. This doesn’t erase the debt, but pauses the IRS collection activities, giving you time to better your financial situation.
• Extensions: Under certain circumstances, the IRS may extend the 10-year collection period, providing additional time to settle your tax obligations. This extension doesn’t affect the original 10-year period but simply adds more time to it.

Why Choose Tax Resolution Services of Hawaii for Collections Hold / Extensions?

Engaging a local Enrolled Agent from Tax Resolution Services of Hawaii for handling your Collections Hold / Extensions request comes with several advantages:

• Local Expertise: Our profound understanding of both federal and Hawaii-specific tax laws ensures a tailored strategy for your request.
• Professional Advocacy: With proficient negotiation skills, we advocate for a favorable hold or extension, ensuring your payments are realistic and manageable.
• Stress Reduction: Delegate the stress of IRS negotiations and paperwork to us. We handle the process, allowing you to focus on improving your financial scenario.
• Educational Insight: Gain clear insights into the Collections Hold & Extensions process, aiding you in making well-informed financial decisions.