Are You Looking For A Sacramento Tax Lawyer?
When a taxpayer needs relief from a tax debt owed to the IRS, their initial instinct may be to search for a Sacramento Tax Lawyer. Another option they can take is contacting a professional tax company that can offer the same quality service, often more resources, and which may also be more affordable. Receiving help from their CPAs, Enrolled Agents and IRS Tax Practitioners can relieve the stress caused by tax debt. IRS tax debt may affect credit ratings and cause financial hardship. Those looking for debt relief should contact either a Sacramento Tax Attorney or qualified tax expert for help.
Ask a debt specialist or a Sacramento Tax Lawyer and they may say that the best way to escape IRS collection actions is to repay the tax debt quickly in one lump sum. Unfortunately, this is not always a viable option as many people suffering from tax debt do not usually have the available funds. There are several programs in place, however, to make repayment easier for taxpayers. A tax debt analyst or a Sacramento Tax Attorney can help individuals to find the plan that best fits their fiscal situation. They will review financial documentation and follow IRS guidelines to come to an agreement with the IRS concerning the taxpayer’s tax debt.
A certified case processor or a Sacramento Tax Lawyer can help to fit an individual to a repayment plan such as an Installment Agreement. The Agreement involves a payment schedule spanning a period of 60 months during which all the debt is expected to be repaid. Some of these Installment Agreements take into consideration a taxpayer’s need to make large purchases or deal with other financial responsibilities. During and after repayment, the individual should take care to remain compliant with the rules of the IRS and the Agreement. To assist in these matters, it is recommended that they hire a Sacramento Tax Attorney or seek the help of an experienced tax professional. Their advice can help prevent the taxpayer from falling into another tax debt situation.
Some of the programs in place do not require that the full balance is paid, but there are special qualifications. With an Offer-In-Compromise, the taxpayer pays a significant percentage of the balance in a lump sum or sums in order to free themselves of their tax liability. A Sacramento Tax Lawyer or an experienced IRS negotiator will attempt to convince the IRS that the taxpayer is not in a position to repay the tax balance in the time allocated with another type of repayment option. This is one of the reasons that a taxpayer must disclose all financial documentation when first beginning the repayment process. The IRS must believe that the Offer is in the best interest of both the agency and the individual. Sometimes, a taxpayer is unable to make any payments due to having a low income and high expenses. The tax expert or a Sacramento Tax Attorney can then try for a Currently-Non-Collectible status. When the case is presented to the government, it is shown that all their income is being used for necessary expenses. If this status is conferred, the taxpayer is released from their tax liability until they are able to make a payment or until the statute of limitations for collections has expired, whichever occurs first.
Legal representation is not always required for IRS cases. Our professional tax company is not a law firm nor are we lawyers, but we have the experience of helping thousands across the United States find tax debt relief; regardless of not being based in Sacramento. We can even help determine if you need to be represented by an attorney, such as when legal advice is needed. If you need help to find relief from your tax debt, contact us for a free consultation. We can help you onto the path for tax debt relief, so call today!