You may have found yourself unable to pay your taxes and you have been bombarded with tax assessments and notices, and living in the constant fear of a bank levy or wage garnishment. Now you feel you can make some token payments but you are not sure how to go about this, and even if the IRS will accept this and cease their incessant contact.
You are definitely on the right track in not just trying to avoid your tax obligation because of your financial situation. However arranging suitable IRS tax payment plans may not be as easy as you anticipate. You may want to consider having an expert tax attorney do the payment negotiation for you.
To begin with, it wouldn’t hurt to have a review of the tax issues to ensure that they are accurate. You are probably assuming that the amount the IRS is stating that you owe is factual. Either you or the IRS could have made a mistake with respect to the amount owed, and it would be to your benefit to know this as it could reduce your tax debt. Depending on your specific circumstances, a professional tax negotiator may be able to have some of your debt reduced as there are allowances within the tax laws for special circumstances. What you may not realize is that the IRS agents have the authority to negotiate tax matters such as this. They are not bound by hard and fast laws that do not allow them to view each taxpayer’s situation as an individual matter.
Then it also has to be determined if you can qualify for IRS tax payment plans. For example, if you are not up to date with the filing of your tax returns then you may not qualify. Or if you owe too large an amount, then negotiating your payment plan becomes far more complex, and you may have to produce a great deal of financial information. Arranging IRS payment plans can quickly become complex and this creates even more stress. By allowing a professional to negotiate on your behalf you are not going to have to deal with these issues and your tax attorney will know what you are capable of handling comfortably by way of installments.
Something else you must consider as well is taking a close look as to whether an IRS tax payment plan is the best option for you. Most likely being a responsible citizen you want to pay your tax bill and it is not your intention to try and get out of your financial obligation. The interest and penalty charges continue to accrue on the unpaid amount of your tax bill and it can take years to try and clear this debt.
Perhaps you have a friend or have heard of others that were able to negotiate an IRS payment plan on their own and it has worked out well for them. What you may not realize is that every tax situation is unique and their success does not necessarily mean this option will be the solution for you.
Your best strategy for getting control of this financial burden is to consult with a professional tax attorney who will review your entire situation and advise you as to your best options. He will assess your financial situation and then once he is totally familiar with you tax case he will negotiate the best solution for you with the IRS. This way you have made every effort to address your tax situation and you don’t have to worry about the legal ramifications of this debt. You will finally be back in control of your tax situation, and know that the best solution available has been negotiated on your behalf by your tax attorney.
Our New York tax law firm offices are located in New York State but we are able to help you in any state across the country. We can work with you no matter where you live. Mr. Hart is licensed to deal with the IRS in every state in the entire country.