A Tax Debt Attorney can be extremely helpful if you owe money to the IRS. While a person can try to handle the situation on their own, they should seek help from an attorney if they have more than $10,000 in back taxes. A good tax attorney will have experience in this area and be familiar with the laws in your area. They will also be familiar with the IRS and how it operates. A tax debt attorney has extensive knowledge of the laws regarding tax matters, and can negotiate with the IRS on your behalf.
A tax debt attorney can negotiate with the IRS on your behalf. An IRS agent can take key financial data from you, which a Tax Debt Attorney can use to fight your case. A reputable firm will also have local presence and be familiar with the court system. An attorney who specializes in tax cases is the best choice for those with extensive financial problems. The IRS is one of the most difficult creditors to deal with. A Tax Debt Attorney will be able to defend your rights against the agency’s collection actions.
A qualified Tax Debt Attorney can negotiate a payment deferral program to reduce the amount of money owed. This program involves reporting your income and living expenses and submitting a 433-F Form, which will allow the IRS to stop collections. However, penalties will still accumulate on your account, and a skilled tax debt attorney can help you negotiate lower monthly installment payments. The only downside to this arrangement is that it’s not permanent and the IRS can revoke it at any time. Click here for more details.
If you have been unable to pay your tax debt for a few years, you may qualify for an option called currently not collectible status. This option is given to taxpayers who are financially incompetent. It generally lasts up to two years, and the IRS assesses whether or not you qualify for this program. While this allows you to delay payments, penalties will still accrue. An alternative solution is the Hardship Program, which can allow you to postpone payments or set low monthly payments.
A Tax Debt Attorney can help you negotiate a payment plan that is reasonable for you. Many tax debt attorneys accept payment plans over an extended period of time. These options can help you avoid paying interest and penalties, as well as make your payments easier to afford. They can also help you avoid penalties and avoid paying back your tax debt altogether. So, if you have a tax debt, an attorney can help you get the best possible settlement deal.
If you are not able to pay your taxes, an attorney can help you apply for an enrolled agent status. An enrolled agent is a tax professional who is able to negotiate on your behalf with the IRS. It is also important to consider whether your taxes are being assessed correctly. An enrolled agent is an attorney who has received a license from the state. If your state does not, you will be responsible for paying all the taxes due.