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Do-It-Yourself Thinking isn’t a Good Idea for Back Taxes and the IRS 

Posted by on Feb 1, 2016


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.taxation

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.

3f793bb5f416d72d8da092e253ea2880It’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.

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Tax Settlement Relief May Be Closer than You Realize 

Posted by on Feb 1, 2016


When it comes to debt, there’s nothing worse than tax debt. The high interest rate and incredible number of fees the IRS attaches to unpaid back taxes causes what started out as a moderate debt to quickly snowball into an unmanageable financial solution. The worst part is, the longer you ignore the situation, the more the amount you owe increases.

Don’t think you’re in a hopeless situation. You’re not. With the assistance of a good tax settlement attorney and some of the programs the IRS has created, you can make things right with the IRS. When you meet with your tax settlement attorney, you’ll learn there are several different IRS settlement programs that could provide you with the tax debt relief you seek.

Installment Agreement

Despite what the debt collectors often try to make you believe, you might not have to pay the entire amount you owe the IRS in a single lump sum. The IRS would far prefer to get regular payments than to never collect the money you owe. You, your tax attorney, and the IRS can work together to determine a reasonable monthly payment program that allows you to pay your back taxes and also have enough left over for your monthly bills. Owing less than $50,000 in back taxes increases the odds of the IRS agreeing to an installment plan.

Offer in Compromise

offerincompromiseOne of the matters you should discuss with your tax settlement attorney is whether you should apply for an Offer in Compromise. Although it’s difficult to get approved for this type of tax settlement, approximately 1% of the applications being approved, if yours is accepted, it will feel like the weight of the world has been lifted from your shoulders. The way the Offer in Compromise program is set up, the IRS allows approved tax payers to settle their outstanding tax bill at a fraction of what they owe.

The amount that you ultimately end up paying could be as much as 20% less than what you currently owe. Best of all, you won’t have to declare bankruptcy.

Penalty Abatement

It’s not easy, but if you can convince the IRS that there’s a legit reason for your failure to pay your back taxes on time, you may be able to qualify for a penalty abatement. In the past, reasons the IRS has accepted include:

  • Natural disasters
  • Fires
  • Family Death
  • Medical crisis
  • Imprisonment

While the penalty abatement won’t make the initial amount you owe disappear, you will be excused from having to pay the interest and penalty fees, provided you pay the amount you would have owed within a certain time period.

If you need a tax settlement in order to resolve the matter of our outstanding back taxes once and for all, the best thing you can do is to contact an experienced tax settlement attorney and discuss the matter with them. The attorney will look at the unique nature of your case and suggest the best course of action.

If you’re one of the estimated 3.8 million Americans the IRS is currently investigating for back taxes, you need to contact the best tax settlement attorney today!

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