No one wants to find themselves in a position where they owe money to the IRS. Right? If you’ve been ignoring the IRS’s letters and phone calls, it’s time to talk to an attorney about finding a solution.
It’s not always as easy as it should be to settle your tax obligations. Perhaps you found out you owed more than you thought, or maybe you had some other unexpected financial setback that prevented you from paying your taxes on time. Don’t worry because there’s pretty much always a solution to any problem.
There are a number of options to help you clear off any tax debt you may have. You can learn more by checking out this link https://www.cpapracticeadvisor.com/2018/12/26/6-reasons-small-business-owners-should-hire-a-tax-pro/32581/.
It’s understandable if you’re hesitant to reach out to the IRS; after all, you may feel like no matter what you try, things won’t improve. You can benefit greatly from working with a tax attorney who has extensive expertise and knowledge in the field.
Giving up or ignoring the situation will not resolve your tax issues with the IRS. The organization will use all available means to obtain the funds it seeks. The IRS has the power to seize assets such as a person’s home and car, as well as to garnish wages.
If you act quickly and consult a tax attorney, you may be able to put this matter to rest. Here’s a rundown of what to expect when you consult a tax attorney and how they can help you. Check out this page.
Free consultation
The initial appointment with a tax attorney is typically free of charge. Calling a law firm for the first time can be nerve-wracking, but don’t worry; they’ll make the process simple for you. Since they assume you did not major in tax law in law school, they will speak to you in terms that are pretty easy to understand.
During the initial, no-cost appointment with a tax lawyer, he or she will want to get a sense of the big picture of your tax issue. They will provide you with an outline of the possible solutions to your tax problems based on their extensive experience in the field. They can also warn you of potential consequences should you choose to do nothing.
There’s no pressure to take advantage of the consultation’s no-cost offer. To win new clients, tax attorneys don’t employ high-pressure sales strategies. In many cases, you may handle your IRS business on your own, but if you’re not prepared, it can be a stressful experience.
It might be difficult to know where to start if you’re unfamiliar with the available possibilities. Your tax attorney will act as your representative before the IRS. The awesome thing to know is that tax attorneys in Atlanta can assist you in finding the best course of action and then handle all interactions with the IRS on your behalf.
Payment plan
If you have tax debt and can’t pay it all at once, the IRS will work with you to set up a payment plan. Those who have the means to make monthly installments but not the whole sum at once can benefit from these payment options.
A tax attorney can help you work out a payment plan with the IRS or state to get you back in good standing and prevent any further penalties. Find out more here https://crixeo.com/tax-relief/attorneys-for-tax-relief/.
Offer in compromise
Do you want to know what else is great? Your tax attorney can negotiate a reduced payment plan with the IRS if you’re eligible for an offer in compromise.
The IRS will review your finances (including your income, assets, and tax debt) to determine your eligibility for a payment plan. The remaining tax balance will be canceled after the settlement payment is made. It’s possible, though, that you’ll also need to do things like file your taxes on time and pay any future taxes you owe in full.
If you have questions about whether or not you qualify for an offer in compromise, a competent tax attorney who has experience with these settlements can help. Discover more on this page.
Tax audits
We can all pretty much agree that nobody enjoys being the subject of an Internal Revenue Service audit. The vast majority of auditees are unprepared to deal with the ordeal. They have no idea how to check if the audit is in violation of their rights.
Having legal representation during an audit is a smart move. During the difficult audit process, you can rest assured that your tax attorney has your back and will represent you in the best manner possible!
Penalty abatement
There’s more good news, folks! Your tax attorney may be able to help you reduce or eliminate penalties from your tax bill. Late tax payments and filings carry steep penalties, which may even exceed the original tax liability. Check out this page for more https://medium.com/@irssolutionsusa/everything-you-should-know-about-hiring-a-tax-attorney-ffc42f7f1b49.
If penalties are removed from your tax bill, it may become easier for you to pay it. After the fees are waived, you may also be able to work out a payment plan to settle the balance.
Levy release and wage garnishment
If you owe taxes and are late on payments, the IRS can take action such as levying your bank account or garnishing your wages. Since you absolutely need that money to pay bills and put food in the fridge, this can be a very stressful situation.
But the good news is that your tax attorney may be able to assist you in releasing the levy, which would be a significant step toward solving your problem. Read more here.
Getting a levy or garnishment lifted is possible through a few different channels of proof. One option is to provide evidence to the IRS that you’re experiencing severe financial difficulties as a result of the levy. Garnishment causes economic hardship when it prevents a person from meeting basic needs, including food, clothing, and shelter.
