There are times when a do it yourself attitude is a great thing, but not when it comes to dealing with resolving the matter of the back taxes you currently owe the IRS. In this matter, you need the professional assistance you’ll get from an experienced tax settlement attorney.
Not only will the tax settlement lawyer make communicating with the IRS possible, but they also increase the chances of you getting offered a settlement by the IRS. The problem with back taxes is that they can have a negative impact on every single aspect of your life. Not only do they impact your credit, but they can also lead the government to putting liens on your property or garnishing your wages until the bill has been paid in full. A law has even been passed that allows the IRS to arrange for your passport application to be denied if you owe back taxes. Even worse, is that the speed that the daily interest and penalty fees add up, making the back tax debt unmanageable.
Strictly speaking, there’s no law stating that you can’t try to resolve your back tax situation on your own. There’s also no law stating that you must have a lawyer handling any court case you’re involved in. However in both situations, it’s always best to seek an experienced attorney who will make you their first priority.
It’s difficult to fully grasp just how fast the interest and penalty fees add up when it comes to back tax debt. And the fees and interest rates start on the day you filed your taxes, or the day you made a mistake on your tax returns, not the time when the IRS contacts you. And the IRS isn’t interested in hearing about why you can’t pay right now, they want the payment, in full, right now. If you try to handle the matter on your own, it’s likely you’ll find communication with the IRS to be impossible, and while you’re trying to connect with them to work something out, the fees and interest continue to grow.
Contacting a tax settlement attorney who has successfully negotiated with the IRS in the past. Not only does the tax settlement attorney have the skills needed to reach a real person within the IRS who is capable of answering questions about your unique situation, but they also know how to ask for the best possible tax settlement.
A good tax settlement attorney knows exactly how to appeal to the IRS in a manner that encourages the organization to create a payment program that works with your current financial situation, without putting a lien on your property or garnishing your wages. In many cases, a good tax attorney will also convince the IRS to reduce the fees and interest your back taxes have gained over the years so you’ll only have to repay the principal amount.
With the help of a good tax settlement attorney, you’ll be able to minimize the financial pressure of the back taxes owed as well as prevent the IRS from filing criminal charges against you.