Tax Lawyer IRS
In today’s economy, almost everyone finds themselves in a different financial situation than they planned. For taxpayers that have unpaid back taxes they owe to the IRS, local tax lawyer IRS experts are there to provide a solution tailored to each person’s unique needs. These tax specialists can help their clients determine which debt resolution programs they are eligible for and advise them on the steps they need to take. Hiring IRS lawyers is a great first step toward the goal of debt relief.
Understanding tax debt and program eligibility can be difficult for most people. Factors such as amount of debt, income tax brackets, and necessary expenses determine the type of tax debt relief options an individual may have. It is these factors and other personal information that a tax lawyer with IRS experience will use to get the debt settlement process started in the right direction. They will make sure their clients are set up with the right forms, such as an IRS Form 433, which will show the IRS the taxpayer’s need for their appropriate debt settlement program. IRS debt tax lawyers can also calculate a clients’ Reasonable Collection Potentials, a useful tool in assessing the likelihood that debt settlement will succeed.
All of the programs offered by the IRS for resolving a debt balance have separate criteria for acceptance, and with that, varying success rates. An IRS debt tax lawyer that has analyzed their client’s finances may suggest an Offer-In-Compromise or an Installment Agreement to settle their IRS debt. Installment Agreements involve a monthly payment schedule and exist in a variety of forms that depend on a couple of factors. The first of these is the amount of debt owed. For example, Guaranteed Installment Agreements can only be entered into by taxpayers who owe $10,000 or less in back taxes. There are also requirements in these programs that insist that an individual must be current on their tax return filing and other specific criteria. An IRS tax lawyer can help their client process unfiled returns and any other necessary paperwork.
Tax debt settlement is a complicated issue and can be hard to navigate without the help of professionals like IRS tax lawyers. These specialists provide their services to anyone with tax related questions and are offering free consultations. There are many factors that need to be considered when determining the right debt resolution option. Make sure that you get all of your forms and files sent in properly with the help of an IRS lawyer. With one phone call, you could be on your way to freedom from debt today.
