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Back Taxes

Help with IRS Debt, Back Taxes and Tax Levies

If you owe the Internal Revenue Service back taxes do not ignore the problem and hope it will go away. It is important to investigate all your options to resolve any IRS debt you may have. In many cases, if you have tax debt, it is a good idea to contact a tax attorney who can help you evaluate the best IRS tax debt settlement option for you. The Internal Revenue Service may use aggressive tactics to ensure that your tax debt is paid. The Internal Revenue Service is not like other creditors. They have been sanctioned by the federal government to collect back taxes by levying fines or penalties, freezing your bank accounts or garnishing your wages. In other more severe cases you could even face jail time.

What Can A Tax Attorney do for Me?

There are a variety IRS debt issues that can arise either professionally or personally. A few of the tax issues that individuals may want to contact a tax attorney to resolve include:

  • Unpaid back taxes which will continue to mount up as penalties and interest collect on the IRS debt.
  • A back Tax Lien
  • Unfiled tax returns for IRS debt
  • Internal Revenue Service Audit
  • Tax Levy - the IRS will seize your assets to pay your back tax debt.
  • Current or back taxes due which you cannot pay.

A tax attorney has years of experience working with the Internal Revenue Service to resolve not only IRS debt issues but all the issues listed below. The best time to talk to a tax attorney is before you have accrued IRS debt. A tax attorney can:

  • Negotiate a monthly payment plan for back taxes
  • Represent you in an tax audit
  • Evaluate and settle past IRS debt
  • Stop Tax Liens for back taxes
  • File back tax returns for past due taxes
  • Eliminate wage garnishments or bank levies due to back taxes
  • Help you manage tax obligations to avoid IRS debt issues in the future
  • Evaluate your responsibility for spousal tax debt.
  • Manage payroll tax issues before they become a problem

How Can I Eliminate IRS Debt?

If you owe the IRS back taxes there are a variety of methods to eliminate the IRS debt. Each year thousands of individuals who have difficulty paying either business or personal IRS debt. Ignoring the problem will not make it go away; in fact, the longer you fail to pay your back taxes the more you will owe as the penalties and interest accrue.

    Contact a tax attorney

    Hiring a competent Tax Attorney to resolve IRS debt may save you time and money in the long run. Tax attorneys have the proper experience to analyze your financial situation and evaluate what IRS tax settlement option is best for you to eliminate your IRS debt.

    Installment Agreement for Back Taxes

    A tax attorney can work with you to negotiate the most common type of IRS Settlement option which is the installment agreement. The Internal Revenue Service may be willing to negotiate a payment plan and will stop aggressive collection tactics if you continue to meet the outlined payment schedule to repay your IRS debt each month. The IRS may be willing to negotiate an installment plan for payroll, income and employment tax debt.

    IRS Debt Partial Payment Agreement

    Certain individuals who meet specific IRS criteria may be able to pay smaller partial payments over an extended period of time. A tax attorney should be consulted prior to agreeing to any type of partial payment plan with the IRS to settle back taxes.

    Currently Uncollectible Tax Debt

    If you meet certain criteria and are determine unable to pay your tax debt the IRS may redefine your IRS debt as uncollectible. The IRS will only make this determination if they determine you or your family will face severe financial hardship if you pay your tax debt. Your financial status will be reviewed periodically and the tax debt is not eliminated.

    Paying Your Tax Debt in Full

    The cheapest way to avoid all IRS action against you is to pay your IRS debt in full. If you consult a tax attorney they may be able to evaluate you tax debt and determine what financial options may be available for you. Many people borrow against their home using a home equity loan which may allow you to pay your back taxes and avoid high interest and penalties. Family members or friends may also be willing to work with your tax attorney to outline loan agreement to help you pay back taxes.

    IRS Debt Statute of Limitations

    In the The IRS Statute of Limitations, the IRS is allowed ten years from the date of the tax debt assessment to collect the back taxes. If they fail to collect back taxes with in this time period the tax debt is dismissed.

    Offer in Compromise for Tax Debt

    A second method for paying IRS debt is the Offer in Compromise tax settlement option. Not all applications are accepted by the Internal Revenue Service and certain criterion must be met but if you qualify, this is a good method to potentially settle your IRS debt for less than the original amount owed. The goal of the Internal Revenue Service is to insure you will pay all future tax debt obligations. This is a contract which should be reviewed by a tax attorney.