What Do You Know About The IRS
Few things threaten your well-being like the harassment and
anxiety of persistent tax problems. Most people make 3 mistakes
that get them in trouble with the IRS. They procrastinate. They
attempt to represent themselves. They hire sub-par
representation and now are in MORE need of help than ever before.
These are the kind of services a Tax Attorney can provide: Offer
in Compromise Cases, Penalty Abatement Petitions, Full Audit
Representations Business Strategy Sessions. Preparation and
Filing of Tax Returns. Settle taxes for Pennies on the Dollar
owed, Stop IRS wage and bank levies (garnishments), Have
property liens lifted, get affordable installment agreements,
File bankruptcy against the IRS, Have penalties and interest
forgiven, Reduce taxes by running out the IRS' time to collect.
Offer in Compromise: Settle your taxes for Pennies on the Dollar
owed Professional law offices can help get you a favorable
settlement with an experienced IRS tax attorney. The IRS' Offer
in Compromise program allows taxpayers to settle their tax debt.
What is an IRS offer in compromise?
It settles your tax liability for less than the full amount
owed, providing you can prove you don't have the ability to pay.
Depending on how much you can afford, you really can pay
"Pennies on the Dollar Owed" in taxes. If it is done correctly -
this option could save you an enormous amount of money, and is
the best strategy for most taxpayers. You should take extreme
caution. You should hire a professional with knowledge of the
IRS' procedures. This professional should determine the least
amount that the IRS will accept from you. If the Offer is not
submitted correctly it will be rejected, or you may be required
to pay more than is necessary.
An Offer in Compromise may save you a LARGE amount of money. Do
you know that the IRS only has a limited time to collect your
back taxes? Let a Professional Tax Attorney determine when the
IRS' time limit to collect taxes runs out. In most cases the IRS
has only a limited time to collect the unpaid taxes. You must
CAREFULLY evaluate exactly when that time period will run out.
Your troubles may be solved. and moreover: If the IRS' time has
run out, or if it will run out soon, your troubles may be over.
Delaying tactics may be used to stall the IRS while their time
runs out. Once the IRS is out of time, they MUST stop ALL
collection action against you.
The IRS MUST release all property liens
TAX RETURNS - FAILURE TO FILE
Many people fail to file Individual Income Tax Returns for a
variety of reasons. Some reasons are innocent, although the most
common is the fact that people can't afford to pay the taxes.
When this happens it becomes difficult to get back into the
system. "I filed for 1998. I couldn't pay for 2000, so I did not
file. Then I was afraid to file for 2001. I haven't filed since
then. What can I do now?"
If you do not file Income Tax Returns you commit a criminal
offense. However, no one who has voluntarily filed back returns
before being caught has ever been criminally prosecuted. That is
the first key: filing BEFORE they catch you.
IRS Penalties Some IRS penalties can be as high as 100% to 150%
of the original taxes owed. Even if you could pay the taxes
owed, the extra penalties will make it impossible to pay off the
entire balance.
The IRS imposes penalties to punish taxpayers and keep them in
line. The IRS does forgive penalties. Before you pay the IRS any
penalty amounts, you may want to consider requesting the IRS to
not punish you because it wasn't your fault.