Helena Tax Debt Attorney
It is not uncommon to hear news these days about taxpayers struggling with tax debt. There are many reasons they have problems paying their tax debt, from unexpected circumstances to bankruptcy. However, if the Internal Revenue Service (IRS) or the Alabama Department of Revenue are not notified immediately, the tax debt may balloon to extraordinary levels that will make it harder to pay even more.
At Defense Tax Partners, you can get the assistance of our extraordinary team of Helena, AL tax debt attorneys who can guide you through all the legal avenues you can pursue to settle your tax debt. We will do our best to get your penalties reduced as we explore the best options and prevent the IRS from imposing new penalties or seizing your property while we try to sort out your debt.
Once we identify the right tax debt relief strategy for your status, we will help you with the applications and negotiate directly with the IRS. No matter how difficult your case is, our team is here and ready to help you regain your financial stability.
Call Defense Tax Partners at (205) 883-8790 for your Free Consultation with an Helena Tax Debt Attorney!
Methods for Tax Debt Relief
Both the IRS and the Alabama Department of Revenue are very particular when it comes to taxes, and it is expected that all taxpayers in the state file and pay their taxes accordingly. If they spot a taxpayer paying their taxes incorrectly or are late in their payments, the legal ramifications will be severe unless there is a valid reason why one is having problems paying their taxes.
For taxpayers with valid reasons for being late or unable to pay their taxes, the IRS offers several tax debt relief programs to help. These programs will help you pay your tax debt either by installments or agreeing to a compromised account that is lower than the actual amount you owe to the agencies.
Here are some examples of tax debt relief programs you may consider:
“Currently Not Collectible” Status
Need some time to sort out an unexpected expense that will use your tax payment? Don’t have any income or assets to pay the agency? You can apply for the “Currently Not Collectible” status with the IRS.
Under this status, the IRS will not collect your tax debt for a year; but, you will still need to face paying the penalties and interests that will grow the longer it is not paid. You will also be regularly assessed to see if the status should be prolonged, or you will need to pay your tax debt at the soonest possible time.
Filing for Bankruptcy
Filing for bankruptcy is a critical decision that must not be made lightly if you wish to keep your credit score high and get access to more financial opportunities. However, if you really need to file for bankruptcy, you will be able to request either a reduction on your tax debt or full tax forgiveness.
Chapter 7 and 13 are the two most popular bankruptcy filings done by taxpayers, especially business taxpayers. Under Chapter 7 bankruptcy, the entire tax debt may be forgiven. Meanwhile, Chapter 13 bankruptcy may allow you to cut down the total tax debt to a certain amount, and you will be given a repayment plan to allow you to pay it between three to five years.
Innocent Spouse Relief
The Innocent Spouse Relief program is for a married, divorced, or separated person who wishes to avoid being legally liable in paying off the tax debts and other responsibilities of their spouse or ex-spouse, or partner. You can apply for this program if you are able to prove that any tax error that your spouse or ex-spouse made was made without your knowledge.
If you are approved for this relief program, you will not be held liable for their errors. Aside from the innocent spouse relief program, there are tax relief options available for joint filers like separation of liability relief and equitable tax relief.
If you are still earning but cannot pay the full tax debt in one payment, requesting an installment plan to pay your debt is possible. The IRS will set a reasonable monthly payment that you will have to abide by to pay off your tax debt. The installment term varies, but it would be no more than six years.
“Offer in Compromise” Program
The Offer in Compromise program is an IRS tax debt relief program for people with no income or assets that the agency can use as a levy in order to get the tax debt paid. You can also only apply for this program if you cannot pay the debt at all, even if it is made in installments.
If the IRS finds due cause to approve your request, they will agree to an agreed amount that is less than your actual tax debt, and it will serve as your overall tax payment. It is important to note that you will need to prove to the IRS your current financial status in order to be considered for the program.
Still confused about these methods, or do you wish to try applying for one of them? Our Arizona tax law firm can look into your situation and provide you with a brief but understandable explanation about these tax relief programs. We will then help you determine which one is best for your financial situation and help you acquire it.
IRS Tax Debt Attorney
An experienced and skilled Helena tax debt attorney will be the first to tell you that you don’t have to wait for the IRS to fine you before you can avail yourself of a tax relief program. You can immediately apply for these programs if you think your financial situation will not improve any time soon and you do not want to face legal penalties.
Defense Tax Partners can make the process stress-free and help you determine the best tax debt relief strategy to get it resolved. We believe that getting tax legal support shouldn’t be difficult, and our tax lawyers make it a point to personalize our legal service to achieve the best results. From preparing your paperwork to speaking to the IRS directly, we can handle it for you.
Aside from helping you settle your tax debt, we also offer the following services at Defense Tax Partners:
1. Tax Preparation
2. Tax Resolution
3. Tax Lien Removal
4. Passport Reinstatement
5. Bank Levy Removal
6. Audit Representation
7. Wage Garnishment Removal
Defense Tax Partners is open to handling both federal and state tax issues regardless of their severity. We will look into your situation, identify the proper course of action needed to resolve it, and prepare everything needed for your defense. We make sure that all information provided is handled carefully and kept confidentially for your protection.
Let’s Talk Now – Free Consultation
Don’t let your tax debt be the cause of more stress for you and your family. With the help of our Helena tax debt attorneys at Defense Tax Partners, you will be able to avail tax debt relief programs that will make your tax debt easier to pay and not have to worry about mounting penalties in the process. Sign with us today, and we’ll help you become financially stable again without worrying about your tax debt ever again.
Call Defense Tax Partners at (205) 883-8790 for your Free Consultation with a Helena Tax Debt Attorney!