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Common Tax Debt Solutions

IRSTaxDebtAttorney.com's tax attorneys leverage common tax solutions for individuals and businesses facing major tax debt problems. With over 13+ years of experience, professionals prepare, negotiate, and submit some of the tax solutions discussed below.

Here Are Some Common Settlement Mechanisms

Every taxpayers situation is somewhat different from another. However, realize there are many common tax solutions available to taxpayers. In some cases, you may be able to pay less than you owe if your financial situation permits. Here are a few of the ways you can do that along with ways to just get into compliance:

  • Offer In Compromise - Depending on your financial situation, an attorney may negotiate and submit an Offer In Compromise to the IRS or State (some states have it).

  • Partial Payment Installment Agreement - An attorney can prepare, submit, and negotiate this type of settlement with the IRS if you do not qualify for a regular installment agreement. This results generally in a taxpayer paying less than they owe.

  • Tax Penalty Abatement - The IRS and States usually impose tax penalties on businesses and individuals who do not file or pay their taxes on time. However, if you can show "reasonable cause" or a valid reasoning as to why you did not comply we may be able to get penalties reduced or removed.

  • Innocent Spouse Relief - Sometimes one spouse may be held wrongly responsible for tax liabilities because the other spouse understated his or her taxes, failed to pay taxes on time, or failed to file on time among other things. In certain cases, if one spouse can prove they didn't know or didn't have any reason to know, certain states and the IRS may provide relief to him or her.

  • Uncollectible Status - An enrolled agent or a tax attorney can help negotiate and submit a currently Not Collectible Status for you. If you have little assets and income below minimum living expenses set forth by the IRS, you might be able to considered "uncollectible." This means collections will be paused, but interest continues to accrue. In some cases, if you are deemed uncollectible for a extended period of time you might be able to have the debt forgiven because of the statute of limitations.

What Needs to Happen to Find a Resolution

No matter what tax solution mechanism we pursue on your behalf with the state or IRS, all tax returns both previous and for the current year need to be filed. An attorney or enrolled agent will help prepare and submit tax returns to the IRS by first gathering all necessary documentation from you, and then by preparing the returns.

IRS and State Liens - If you are stuck with an IRS or State tax lien, generally you need to get a resolution or get into compliance with the IRS or State first before they will consider releasing a tax lien.



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Some Facts To Keep In Mind

1. Settling for Less Is Rare - In Most cases, a business or individual will have a difficult time negotiating a settlement with taxing authorities that results you paying less than you owe. However, it is possible.

2. You Can Get a Resolution - Resolving IRS and State tax problems and negotiating a settlement can be a lengthy process sometimes, but nonetheless there is no reason why you can get back into good standing with the IRS or State.

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