There are many benefits to hiring a Skilled tax Debt Attorney. Their knowledge of tax laws and their experience in dealing with tax-related debt can be a great help in getting your finances back on track. An attorney can also help you discuss technical matters with the IRS. While negotiating with the IRS is not easy, a qualified tax attorney can help you get the asset you have lost back in the process. Here are a few of the most common ones:
Partial payment agreement: A partial payment agreement is a form of payment arrangement whereby the IRS accepts less than what is owed in total. This type of agreement requires that you file a 433-F form, provide the IRS with a financial statement, and request a review every two years. If you cannot pay your entire debt, a skilled tax debt attorney will negotiate a reduced payment amount for you.
Partial payment agreement: If you are unable to pay your entire tax liability, the IRS will often accept a partial payment arrangement that reduces your tax liability by half. However, you will need to report your income and expenses on an annual basis and submit a financial statement to the IRS every two years. A tax debt attorney can negotiate a reduced monthly installment payment for you if necessary. It is important to remember that owing the IRS is a serious situation. A skilled tax debt attorney can help you navigate the murky waters of IRS collections.
Jonathan Decatorsmith is a thirty-year tax law veteran with extensive experience on both sides of tax disputes. He has held roles in the IRS as an internal instructor and legal advisor. His experience and knowledge in the field of tax law allows him to be a powerful advocate for taxpayers who don’t have the resources to hire their own attorney. Jonathan Decatorsmith has an outstanding support staff. He also teaches domestic law students at IIT Chicago-Kent College of Law.
If your tax debt is less than $10,000, you may be able to negotiate a reduced payment with the IRS. This may be possible through an Offer in Compromise, whereby you agree to pay a portion of your debt in exchange for a reduced amount. This is a great option for many taxpayers, especially those who can’t afford to hire an attorney. A Tax Debt Attorney can help you understand the details of the settlement agreement and protect your rights.
While hiring a qualified tax lawyer will help you avoid jail time, you should not take this option lightly. The process of hiring a skilled tax attorney is complex, and finding the right one can take a long time. A skilled attorney can explain the legal process in the best possible light. The attorney can also help you fight your case and protect your freedom. When hiring a skilled tax attorney, make sure you select someone with experience.