You may think you don't need an IRS debt tax attorney at first, but it doesn't take long to find out that expert assistance is imperative. Anything connected with the Internal Revenue Service and past due taxes can become very complicated quickly. In fact, there are a lot of people who have failed to reach a reasonable agreement with the Internal Revenue Service because they didn't understand the rules, laws, regulations and procedures.
No Amateurs Allowed
Negotiating with the Internal Revenue Service can be a delicate process in many respects. The process of obtaining an "Offer In Compromise" is a perfect example. An Offer in Compromise is a statement that you create, telling the Internal Revenue Service what you think is a reasonable settlement amount in exchange for eliminating the total debt or closing the past due tax account upon payment.
An Offer in Compromise sounds quite simple by definition, but the process is much more complicated than simply telling the Internal Revenue Service what you think is a fair and reasonable agreement. For one thing, you have to prove your offer makes sense in light of your financial condition. You also have to show how everyone benefits by the Internal Revenue Service accepting your offer.
An Offer In Compromise is only accepted approximately 15% to 50% of the time (depending on which statistics you believe). That's really not very high odds. The best way to improve your chances of successfully coming to agreement with the Internal Revenue Service is by using the services of a lawyer. An attorney with an expertise in taxes is certified to work as a negotiator with the Internal Revenue Service and so begins the process from an advantage point the average taxpayer doesn't have.
The Offer In Compromise filing can be complex which means you need an attorney that has experience and can prove success in a variety of tax cases. No two debt situations are alike and it takes knowledge of the laws and regulations to negotiate successfully.
Navigating the System
An IRS debt tax attorney knows and understands the current Internal Revenue Service taxation laws. But even beyond that an attorney specializing in tax negotiations stays current on taxation law changes. This is important when trying to deal with the Internal Revenue Service.
There's another reason why you need an IRS debt tax attorney when filing an Offer in Compromise. The compromise process is very time consuming and requires frequent communication with the Internal Revenue Service. Most taxpayers are working middle class and can't take the required amount of time away from their jobs to meet over and over again with the Internal Revenue Service. In addition, staying current on laws for taxation is a job in and of itself.
The Offer In Compromise is just one debt solution that's available to taxpayers. An attorney can review all of the possible solutions which can solve your Internal Revenue Service problems.
Irs Debt Tax Attorney
An IRS debt attorney is a dedicated professional who has extensive knowledge and experience in the area of negotiating tax settlements. Businesses have special issues related to taxes that individuals don't face. For example, businesses are the front line wealth collectors which conveys a heavy responsibility within a bureaucratic system.
Padlocked Doors
One of the saddest sights you can see in this country is a business that's been virtually ransacked by the IRS and the door padlocked. When a business collects employee taxes and then fails to remit those taxes to the IRS, the collection process kicks into gear swiftly. One reason for this is the fact that the income portion of the withholding actually came from wage earner checks and not from business profits.
One of the most common tax problems businesses face is failure to pay taxes due to the IRS on a quarterly basis. In addition, businesses are required to file a number of reporting forms. Every deposit not made and every form not filed can result in penalties and interest being charged.
Failure to remit taxes is a serious problem, and it's also like an avalanche. Once a business falls behind, it's hard to catch up. There are different types of taxation such as income, social security, unemployment and business taxes which need to be paid regularly. The forms are complicated to make matters worse. Businesses make mistakes on the forms which create another tax problem.
An IRS debt attorney is a valuable resource for dealing with problems related to businesses. A typical small business has over 200 IRS compliance requirements which can trip up a business at any time. When mistakes are made or taxes are not remitted in a timely manner, retribution by the IRS can be swift and expensive.
Finding the Padlock Key
One of the main bargaining points a business has during negotiations with the IRS is the fact that by staying open there's hope of paying back the owed dues plus accruing additional future taxes. An IRS debt attorney can present a plan for payback that enables the business to continue operating. In this way employees don't lose their job and the IRS gets their money.
Such negotiations can be quite sensitive though. The business has already lost credibility in the eyes of the IRS for failure to remit taxes held in trust. The best hope for restoring that trust is through the intervention of an intermediary such as an IRS debt attorney.
An IRS debt attorney can work out a settlement or payback plan or get penalties abated by showing there was reasonable cause for failure to pay. The attorney is familiar with all the options for tax negotiation and can get the best compromise offer possible. If you have a business with taxation problems, it's important to get assistance immediately so resolution can be found as early as possible.
William Mcconnaughy has sinced written about articles on various topics from Debt Reduction Consolidation, Tax Relief and Debt Consolidation. William McConnaughy, CPA is a tax negotiation professional. He has experience working with people seeking tax relief and credit repair. For more information visit his
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