What Options Exist To Resolve Tax Debt?

In this article, you can discover:

• Tax debt resolution strategies available to you.
• How you might benefit from a tax resolution attorney.
• Insight into how the IRS manages tax collection.

If you’re struggling to pay your taxes or have received a letter from the IRS, there are a few options available to you. One option is to set up an installment plan with the IRS. A qualified tax resolution attorney in Florida would be able to arrange an installment plan that works for you.

That way, you can make small, more manageable payments over time until the debt is paid off. Another option is to obtain what’s called non-collectible status. This means that the IRS won’t try to collect payment from you because they understand that you don’t have the ability to pay right now.

If you are struggling to pay your debts, another option is to check the eligibility for a Partial Payment Installment Agreement. A Partial Payment Installment Agreement is where you make partial payments towards your debt, and the rest is usually no longer collected. It can be a helpful option if you are unable to pay the full amount owed and cannot obtain Offer in Compromise (discussed below).

If you’re looking for the most ideal solution to your IRS debt problem, an Offer of Compromise may be right for you. In this program, we work with the IRS to negotiate a reduction or elimination of your debt based on your financial circumstances.

If someone owes the IRS money, it could be for any number of reasons. They may have lost their job, had a medical emergency, or been in the process of changing jobs. Whatever the case may be, a skilled tax resolution attorney can negotiate with the IRS on their behalf.

Another possibility is that there is a “Doubt as to Liability” issue, meaning that person does not believe they owe the tax the IRS is charging. While this is less common, it definitely does take place. The IRS makes mistakes just like the rest of us, and at SG Law Group we have dealt with clients that fall under this category before.

In fact, we always start by analyzing the situation to see if there is any doubt about who is responsible. If we can prove that someone else is responsible, it is much easier to dispute the claim. Oftentimes, clients of a tax resolution attorney initially only seek to reduce their debt. However, upon further inspection, it may be found that the debt was incorrect, and they shouldn’t have been paying it at all. We are then able to successfully reduce the debt.

After analyzing the situation, a tax resolution attorney can begin to figure out ways to reduce the amount of debt. There are various options available to taxpayers that can help them get out of debt. Let’s explore some of those options and see which one would work best for you.

With the guidance of a skilled attorney for Tax Resolution Law, you can have the peace of mind that comes with knowing that we’ll make it look easy.

For more information on Tax Resolution Law in Florida, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (305) 606-6139 | (305) 285-3042 today.