People often assume that all debts are the same. However, this isn’t true. Money owed to the Internal Revenue Service should never be considered as just another debt. Unpaid tax debt adds up quickly as penalties and interest continue to accumulate. And IRS tax representatives are especially zealous at their jobs, which is collecting tax money owed to the government. If you owe back taxes, you will typically first receive notices in the mail requesting payment of your delinquent taxes. These notices can lead to telephone calls from IRS representatives and even possible unannounced visits to your home or business if notices are ignored. Legal action may be taken against you if you are in tax default. The stress and worry of having unpaid tax debt can be enormous and make your life miserable.
Fortunately, there are steps you may be able to take toward IRS tax debt relief. Skilled IRS tax attorney Timothy S. Hart has extensive experience helping people get free of burdensome debt. He will examine your specific situation and advise you of possible options for relief.
To learn more, call our Albany law office at (518) 213-3445 or our New York City office at (917) 382-5142 to schedule a free consultation. Even though our offices are in New York, our attorney is licensed to handle IRS cases nationwide and can help you no matter where you live.
Attorney and CPA, Timothy S. Hart has worked up close and personally with many, many clients grappling with massive tax problems. He understands the stress, anxiety, and uncertainty a person feels when they get that letter or phone call from the IRS or New York Department of Taxation and Finance demanding payment of overdue taxes. With a skilled attorney at your side, you can take a deep breath, create a strategy, and find a way through to the other side. Consider these successes:
Our tax law firm negotiates aggressively in a solution-focused manner to achieve account settlements with the IRS that are manageable. One of our clients, Jeff K. owed the IRS $1.789 million, and our tax problem lawyers were able to strike an agreement in which he could settle the debt by paying just over $351,000. Another client, Marino F. owed $189,100 in civil penalties related to unpaid payroll taxes and income taxes, and they settled for $79,273. Another elderly client, John M. whose wife had passed away found out that she did not pay the taxes owed on her income when they filed their joint income tax return. We were able to reduce the $128,466 IRS assessment to zero through filing an innocent spouse claim. With the same client, we were able to settle his Ohio tax debt of $10,700 for only $221. We have also been successful in having the IRS remove penalties assessed in numerous cases.
When it comes to tax law, it’s all about understanding the technicalities and finding ways to achieve solutions that clients can manage. Most clients want a resolution so they can move forward with their life, with less anxiety, but they’re scared and confused because the law is complicated and tax institutions can be intimidating. Our law firm will walk beside you every step of the way, providing reassurance, communication, guidance, and tangible solutions.
Most people want to pay their back taxes, but they simply do not have the money to do so. If this has happened to you, you may feel helpless and out of financial control. But the good news is that you may have options for paying your taxes that are achievable for your financial circumstances and that will relieve you of the anxiety of potential government actions against you. The IRS simply wants to collect the money it is owed—it does not want to ruin peoples’ lives, which is why the agency offers special programs to help people pay their taxes.
If you can’t pay your tax debt, you may feel helpless and out of financial control. But the good news is that our tax attorney can help you discover possible debt relief options that are achievable for your financial circumstances.
The ability to qualify for an IRS debt relief program is contingent upon meeting certain criteria set by the tax law and IRS administrative tax rules. Additionally, the programs require that all unfiled tax returns have been filed. The two types of IRS debt relief programs are the installment agreement and the offer-in-compromise tax settlement program.
The installment agreement is an IRS plan that allows you to pay off all your tax debt within an extended time period. There are short-term and long-term installment agreements. If you enter into a short-term agreement, you must pay the full amount of money you owe within 120 days. For many people who with high tax debt, this is simply not possible, but a long-term payment plan may be viable. There are different types of long-term agreements. The one that you may qualify for depends upon your overall financial circumstances and how much you owe in back taxes.
One of these long-term plans, called a partial payment installment agreement, or PPIA, requires people to pay off a portion of what they owe each month, but once they reach the 10-year IRS collection statute of limitations, any remaining debt is forgiven. You could qualify for a PPIA if you can prove to the IRS through detailed financial information that you cannot pay the full amount you owe.
Another IRS debt relief program is the offer-in-compromise tax settlement agreement. This program produces great results for people who have the right fact pattern for tax debt owed, who have little income after paying basic expenses, who have no substantial assets and are not currently in bankruptcy.
If you qualify and are approved by the IRS, you could settle your IRS debt for less than you owe. The way it works in basic terms is that you make an offer to the IRS of what you can pay. If the IRS accepts your offer following an in-depth review of your financial situation, you pay that amount and the rest of your debt is forgiven.
The penalties and interest on the unpaid tax debt will still accrue while your offer to the IRS is being evaluated. There is a $205 application fee. The offer can be paid in one of two ways:
A third option for some people is to delay collection of tax debt by qualifying for currently not collectible status. People with proven financial hardship may qualify. If after a detailed review of your financial circumstances, the IRS determines that you are unable to pay any of your tax debt at the present time, they will stop trying to collect from you until your financial situation changes. However, during the time you are considered currently not collectible, penalties and interest will continue to accrue on the tax money you owe and the IRS will keep any tax refunds you may be due. If the IRS determines sometime in the future that you can pay, they will expect payment.
Whether you are seeking an installment plan, an offer-in-compromise settlement or wish to qualify for currently not collectible status, the attorney you work with can make the difference in approval or rejection of your application. Tax attorney Timothy S. Hart has successfully handled numerous IRS debt relief cases for clients with large tax burdens. He will work hard in seeking to get you the best possible IRS tax debt relief outcome. Call today to arrange a free consultation. You can reach our Albany office by dialing (518) 213-3445 or the New York City office at (917) 382-5142.
Tax attorney Timothy S. Hart has extensive experience pursuing tax settlements for people who are in debt to the IRS. He can represent you in IRS tax matters no matter where you live in the country. He is admitted to practice in the U.S. Tax Court and is also a certified public accountant, which provides him well-rounded professional insight into the problems faced by taxpayers, including the issue of mounting IRS tax debt. When you are sinking under the weight of seemingly insurmountable tax debt, choose an attorney who has the knowledge and drive necessary to stand up to the IRS to get you a tax relief solution. Timothy S. Hart is that lawyer.
Following are answers to frequently asked questions about IRS debt relief programs. To get answers specific to your situation, reach out to our IRS debt relief attorney in Albany and NYC.
+ Will the IRS negotiate with me?
That is a good question. A lot of taxpayers don’t realize that IRS representatives have the authority to negotiate the amount of money owed on taxes. It is not something that IRS agents make known and it isn’t an alternative that they will openly offer to an individual who is struggling financially. But when taxpayers have an experienced tax attorney represent their interests, the IRS will often more willingly negotiate. This is because IRS agents know that tax attorneys understand the power they have to negotiate potential reductions in the amount of back taxes. And a good tax lawyer will pursue negotiations to reduce tax burdens when it is in their clients’ interests.
But negotiations can be difficult. IRS agents are specialists in their field when it comes to collecting money owed. Their expertise demands equal prowess in negotiating IRS debt settlement solutions. Our experienced tax attorney has the knowledge and capability to negotiate tax relief options.
+ Does the IRS forgive tax debt?
You may be able to have some of your tax debt forgiven by the IRS through an offer-in-compromise settlement or a partial payment installment agreement, depending upon your circumstances. Every person’s IRS tax debt relief case is unique. To find out whether you may quality to have IRS tax debt forgiven, reach out to Timothy S. Hart today.
Every entity that has anything to do with finances is at risk of making mistakes. The IRS is no exception to this rule. If you owe money for back taxes, you should not just assume that the amount you have been assessed as owing is correct.
Diligent IRS tax attorneys never take anything for granted when it comes to the bottom line of what is owed by taxpayers they represent. Even if you have had your taxes prepared by a CPA or other tax professional, as your IRS debt settlement negotiator, our attorney will review the accuracy of the assessments of the amount you owe. If inaccuracies are identified, he will work to resolve them with the IRS on your behalf.
+ If I don’t pay my tax debt quickly, can I lose my assets or go to jail for tax evasion?
If you don’t pay your tax debt in a timely way or make arrangements with the IRS to pay debt through a tax relief program, you could have your assets seized through an IRS levy. Through a levy, the IRS has the authority to garnish wages, seize homes, cars and other property, and even take the money in bank accounts. However, the IRS cannot take a delinquent taxpayer’s property on a whim. Before they can seize assets, they typically must put a lien on property and then send mailed notices of their intent to levy.
As far as going to jail for tax evasion, this is unlikely unless a person has willfully taken steps to file false tax returns or has evaded paying taxes through fraudulent means. The average taxpayer who simply does not have the money to pay the taxes they owe is not usually guilty of willfully committing fraud or evasion.
Owing a lot of tax money to the IRS is a frightening situation to be in. If you are wondering how to get out of IRS debt, you have come to the right place. Our tax attorney Timothy S. Hart is passionate about doing all he legally can to help people get IRS debt relief, whether through an offer-in-compromise or installment agreement. Once he learns the details of your circumstances, he will counsel you about the IRS debt relief program you may qualify for and then diligently represent your interests before tax authorities.
Don’t wait to get legal help when you owe back taxes to the IRS. The longer you wait, the more you will owe as interest and penalties continue to add up, and the more difficult your financial circumstances will become. Contact us today to learn how we can help you get IRS tax relief. Call our Albany office: (518) 213-3445 or New York City office: (917) 382-5142 to arrange a free consultation with our experienced and reputable tax attorney.