A Qualified Tax Attorney is Here to Help

Fast Help with Your Taxes

Taxes are tough. Help is on the way.

Understand the Different Types of Tax Law
Learn Which Forms You Need
Explore an IRS Settlement
Avoid an Intent to Levy
Halt a Garnishment Order

Tax law is notoriously one of the most complex areas of law, and trying to tackle it on your own can be daunting. For instance, there are many subcategories within business tax law, including income tax, estimated tax, employment tax, self-employment tax, and excise tax, all complete with a long list of forms. While taxes may be tedious to rifle through, they are absolutely essential to organizing a new business. Errors or a lack of completion in taxes may threaten the future of your business and bring about legal repercussions.

The IRS might serve you a garnishment order to obtain a significant portion of your earnings, or an “Intent to Levy” letter which gives the IRS the right to seize assets or property or garnishment. It is not impossible to fight these actions, but it is difficult.

With a licensed tax attorney on your side, you can explore a stable IRS settlement in which to pay back your taxes without having anything seized or garnished. Taxes are tricky and they require overly complicated procedures; it’s all too easy to make a mistake. Simply fill out the form on this website so local lawyers can contact you in regards to your situation.

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How to Avoid Tax Debt Troubles

Debt, by its nature, is something that most people want to avoid incurring. Trying to pay back these debts can be a stressful endeavor especially when you simply do not have the money or resources on hand. Perhaps the worst kind of debt you can imagine is IRS tax debt. This is something that can put you in a significant hole that can be difficult to climb out of. But, there are a few options at your disposal that can help you reduce your tax debt, pay it in full, or just defer it to a later date.

The primary thing that you want to avoid with IRS tax debt is the hit to your credit. The IRS has the authority to file tax liens against those who have delinquent federal tax payments. If you don't take steps to mitigate the losses, your credit could incur some major damage. If you choose to ignore the tax lien altogether, you could be at risk of a lien and/or levy on some of your property. There are really only five ways to get out from under the thumb of the IRS, but it certainly helps to look into hiring a tax professional (like a tax attorney). These five options include:

Installment agreement
Partial payment installment agreement
Not currently collectible
Offer in compromise (OIC)
Filing for bankruptcy

The first two options look a lot like the same thing because they both involve monthly payment plans. The regular installment agreement helps you pay off your IRS tax debt over a relatively short period of time. In this case, your payments are going to be rather high, but you will be able to pay off your debt in a matter of months. The partial payment installment agreement actually describes a long-term monthly payment plan with reduced payments. It only differs from the regular installment agreement in that it is over a longer period of time and comes at a reduced dollar amount per month.

The "not currently collectible" option is a lot like what it appears to be. The IRS essentially agrees to not collect on any of the outstanding debts for a certain period of time (usually around a year). This is not a permanent solution by any means, but it can certainly buy you some time.

With an OIC, you can essentially settle your debts at a reduced amount. This often requires paying a large up-front fee or a very short-term payment plan. This is an option that you'll often see hawked on infomercials late at night promising to save you "pennies on the dollar." It's more than likely that they won't be able to make good on the promise and an OIC might not work for some individuals.

The last option you can try is simply filing for bankruptcy. This effectively lets you discharge your IRS tax debt under the regulations laid out in a Chapter 7 or Chapter 13 bankruptcy petition. In most cases, however, this only applies to tax debt incurred within the three years prior to filing.

In any event, there are no quick fixes to tax debt, and it might be logically prudent to seek help from a tax professional. With someone on your side guiding you through the process, it might make the whole ordeal more palatable in the long run.