Using a tax attorney to resolve your tax debts can be beneficial. This is because it can help you avoid penalties and other financial penalties. There are many tax resolution services available. These include offers in compromise, lien and levy relief, and penalty abatement.
Offer in compromise assistance
Whether you're trying to settle a tax debt or avoid further trouble in the future, the services of an offer in compromise attorney may be the solution for your situation. This type of assistance can help you make sure your offer is submitted correctly, and can help you avoid a rejection.
An offer in compromise is an agreement between the IRS and the taxpayer that will settle a tax liability for a reduced amount. This may include a lump sum or in installments. The amount you're able to pay will depend on the IRS's assessment of your financial situation and your assets.
An offer in compromise can save you a great deal of money on your taxes. It also allows you to start over with a clean slate. However, there are many pitfalls to this process. A tax attorney can help you navigate through the maze of procedural requirements. They can also help you determine which tax strategies will work best for your specific situation.
Lien and levy relief
Using the services of a tax attorney - tax resolution services can be your best bet when facing a lien and levy. A lawyer can help you get your taxes paid off while protecting your assets.
The IRS uses aggressive tactics to collect back taxes. They will send a series of letters to you before launching an enforced collection action. You can also contact the IRS and ask them for a hearing.
If you have questions or concerns about the IRS, the best option is to consult with a tax attorney. A lawyer can assess all your options, and negotiate lower settlements with the IRS. A lawyer can also help you to stop a levy and get your money back.
If you have received a lien or levy notice, the next step is to file a formal request for a hearing. You have 30 days to respond. If the IRS agrees to your request, you can set up relief options, such as a payment plan or installment agreement.
Penalty abatement
Whether it's a tax audit or a penalty assessment, the IRS has many different ways of granting relief. The best way to ensure that you are abiding by all of the IRS's requirements is to contact an experienced tax attorney. They can help you with all of the details of your case. They will be able to find a way to obtain a penalty abatement for you.
In order to be eligible for an abatement, you must demonstrate that your tax obligation was based on reasonable cause. Reasonable cause can be a wide variety of things, including inaccurate IRS advice, natural disasters, unavoidable absences, or the death of a loved one.
If you have an unpaid balance, you can request a formal Collection Due Process Hearing. This is generally faster than an appeals hearing. You should also note that you may qualify for an Offer in Compromise, which is another option to obtain a penalty abatement.
To qualify for abatement, you should be in good standing with the IRS. This means that you have not been assessed penalties in the past three years. You must also show that you have made consistent, on-time payments to the IRS.
CSED expiration date
CSED, or the Collection Statute Expiration Date, is the statutory limit that the IRS has to collect taxes and fees owed to the government. It usually ends 10 years after the date of assessment. However, there are several situations that can extend this deadline.
The IRS has a centralized database to track these CSEDs. This allows the agency to recalculate them accurately. However, sometimes human error leads to inaccurate calculations, which can result in unlawful collection activity. If this happens to you, the experts at Tax Defense Partners can help you. They will review your tax account transcripts to determine your options for resolving your tax problems. The sooner you take action, the more valuable milestones you will push into the future.
In addition to extending your CSED, you can also suspend it. This can be done for one, two, or three days. You can do this through the IRS or through the court system. The IRS can suspend your CSED while you are attempting to reach an installment agreement.
No comments yet