How to Negotiate With an IRS Lawyer For Unsettled Tax Debts?
Hiring an IRS Lawyer for Unsettled Tax Debt is an excellent way to resolve your issue with the Internal Revenue Service. A tax attorney can advise you on how to file your back taxes and help you avoid bankruptcy. Having an attorney on your side is also beneficial if you have failed comeback case submissions. Ultimately, an IRS Attorney will understand your unique situation and help you achieve the best results possible.
While most taxpayers are aware that negotiating with the IRS is a long and difficult process, it is possible to get your liability reduced. For example, an offer in compromise may be a viable solution for taxpayers in dire financial circumstances. It’s a plea for the IRS to reduce the amount owed. The circumstances that qualify for an offer in compromise include a lost job or family member, catastrophic medical expenses, and a host of other circumstances. Despite these factors, you should know that your chances of successful negotiation are far greater if you have a good income.
If you do not have the money to pay your tax debt, you can contact the IRS Appeals Division to see if your situation is more favorable. Your lawyer will be able to work on a settlement with the IRS if the IRS cannot reach an agreement with you. The Appeals Officer will assess your case under applicable laws and the facts to determine whether your case will be considered an acceptable one. If the IRS is not satisfied with your offer, they will proceed with collection proceedings.
When you have a substantial financial hardship, you may be eligible for an offer in compromise. An offer in compromise allows you to settle your debt with the IRS for less than you owe. This option, however, is rarely used by attorneys, and is only available to taxpayers who can demonstrate substantial financial hardship. It can be difficult to obtain, so you need to make sure you take the time to consider it before making any decisions.
An OIC is a type of settlement in which the IRS agrees to accept less than you owe. An OIC requires you to pay the IRS through the equity in your assets. This method is more realistic and will allow you to settle your tax debts with much less money than you owe. In some cases, an OIC can be negotiated with just a few dollars.
When you hire an IRS Lawyer in Indianapolis, IN, you can be assured that you will receive an effective resolution. Moreover, you will have peace of mind, because the IRS will only have to negotiate with you instead of you. If you choose a Chapter 13 bankruptcy, the IRS will only pay your back taxes, not you. In a Chapter 20, the IRS will only pay the taxes you owe.