Qualifying For Tax Resolution Options With The IRS
While there are resolutions available for every taxpayer with delinquent taxes, not everyone can qualify for reduced payment options. For those with significant income or valuable assets, the IRS may require payment in full. However, others may qualify for an installment agreement, an Offer in Compromise, or a Currently Not Collectible status.
Attorneys And Negotiations With The IRS
Experienced tax attorneys can help with negotiations and settlements with the IRS. They understand the regulations and processes involved, allowing them to navigate the system effectively on behalf of their clients.
Timeline For Resolving Tax Debts With The IRS
The time it takes to resolve a tax debt with the IRS varies significantly depending on the complexity of the case and the efficiency of the IRS agents handling it. In general, resolving a tax debt can take anywhere from six months to two or three years, with some cases being settled in as little as 30 days. Factors such as the impact of Covid and the competency of IRS agents can influence the timeline.
Protecting Taxpayers From Future Tax Issues And Liabilities
To avoid future tax issues and liabilities, taxpayers should file accurate tax returns and pay their taxes on time. For most people with more than just a W-2 and standard deduction, it is advisable to hire a competent tax preparer who knows the ins and outs of tax regulations and uses reliable software to file taxes correctly.
Choosing A Tax Preparer
When selecting a tax preparer, it is important to seek recommendations from others and thoroughly evaluate their qualifications. Beware of tax preparers who promise large refunds before reviewing your financial records, as they may be scammers. In some cases, such individuals might falsely report business activities on tax returns to generate large refunds, leaving the taxpayer to deal with the consequences when the IRS discovers the discrepancy.
To protect yourself, be cautious when choosing a tax preparer and avoid those who make unrealistic promises or engage in questionable practices.
What Sets Our Firm Apart in Guiding Businesses And Individuals Through Tax Problems
A competent tax attorney is crucial for resolving tax problems early on before they escalate and become more difficult to manage. Clients often come to us after receiving a call, notice, or letter from the IRS, and they are understandably concerned. Our approach involves:
- Reassurance: We reassure clients that their tax issue is a debt, similar to a car payment – and that we can resolve it. Although the IRS has more authority than other creditors, our experience and knowledge allow us to navigate these situations effectively.
- Honesty and Reputation: Our firm is known for its honesty and integrity. We receive many referrals from attorneys, CPAs, and satisfied clients who trust our expertise and commitment to their cases.
- Skilled Staff: Our well-trained staff is capable of answering questions and providing guidance, ensuring clients don’t always have to speak directly with an attorney for assistance.
- Communication: We prioritize prompt and clear communication with our clients, responding to their calls and emails in a timely manner. Keeping clients informed and addressing their concerns is essential for building trust and maintaining a strong working relationship.
- Strong Relationships with Tax Authorities: Our firm has an excellent reputation with the IRS and state tax agencies. This rapport is crucial, as it helps facilitate a smoother resolution process for our clients. Tax authorities know that when we propose a solution, we have put in the necessary work to ensure its viability, increasing the likelihood of approval.
Our approach to guiding businesses and individuals through tax problems sets us apart from other firms, offering clients peace of mind and confidence in our ability to resolve their issues.
For more information on Qualifying For Tax Resolution Options With IRS, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling (864) 271-7940 today.