Obtaining tax relief on your own is an uphill battle since you are facing an expert on the matter, the Internal Revenue Service. The government agency would take legal action to make you pay for your taxes, either through garnishment, liens and levies. As the process runs its course, so with it does your tax debt with the compounded penalties and interest.
By law, the IRS is granted power to seize your bank account, garnish your wages and auction off your properties in order to pay for your unpaid taxes. Tax relief thus is one of the practice areas of the Strom Law Firm and the firm can help you in resolving these legal issues.
The tax relief attorneys at the Strom Law Firm would represent you during this whole process. During the review of the case, the firm would be able to put a stay on the running of the interest and penalties on your outstanding tax debt. After such comprehensive review, the tax relief attorney of the Strom Law Office would recommend the best course of action for the resolution of your tax problems with the IRS.
The Strom Law Firm has represented individuals and small business owners with the following tax issues with the IRS. These include:
- Non-filing of tax returns
- Undergoing an IRS tax audit
- Have been notified of seizure of assets by the IRS
- Undergoing criminal investigation
- Spouse Support for an individual facing investigation by the IRS
- Receipt of levy notice from the IRS
Do reach out to the Strom Law Firm for a free consultation on how we can assist you. The tax relief attorneys of the firm would identify tax issues and work towards any and all of the following:
- Stay the garnishment of your wages
- Stay the imposition of a bank levy and the continuance of foreclosure proceedings
- Move to lift the imposition of a tax lien
- Negotiate on penalties and interest charges imposed
Should criminal indictments commence, the Strom Law Firm can provide criminal tax defense.
The Options for Tax Relief
After a full review of your tax situation, there are many available options to achieve debt relief. There are many options available in order to achieve a resolution with the IRS, which may include any of the following:
- Offer in Compromise. One of the schemes undertaken by the IRS is the refusal to recognize that negotiation towards a compromise can be undertaken on tax liability. In the end, the individual may be able to pay less than what is actually owed the government. This is called an offer in compromise, an agreement between the taxpayer and the IRS with the aim to settle the taxpayer liability.
- Review of Liability. The Strom Law Firm would work to determine the individual’s eligibility for an offer in compromise. Should you qualify, the tax relief attorney would work hard to achieve an Offer in Compromise in an amount lesser than what your tax liability has been computed.
- Non-Collectible Status. If you do not have the financial resources to be able to pay your tax debt and your income covers all living expenses, thus need an extra source of income to pay your tax debt. When in this situation, you can then classify your debt into non-collectable status. At this status, the IRS would suspend payments for a defined period of time until your financial resources are in order. During this same period, the IRS enters into an agreement with the individual on a manageable payment scheme to be able to cover the outstanding tax debt. This is dependent upon the amount owed as taxes and to be able to compute a manageable amount for the installments, full disclosure of financial documents must be made by the individual.
Levies and Lien Release. Within the IRS’s disposal is a range of legal remedies to recover the unpaid taxes. These include seizure of assets, garnishment of wages as well as levies on your personal bank accounts. One option to lift these remedies is the submission that your income is unable to cover basic living expenses such as mortgage or rent, utilities and other monthly payables. Once this is given due course, the tax levy or tax lien can be lifted.
Freeze on Penalties. If the individual owes taxes, the IRS, as the government’s tax agency may impose interest and other penalties aside from the principal amount of tax to be paid. So often, these charges can balloon the amounts to a proportion that the amount becomes an insurmountable debt. The IRS has thus instituted a program, called penalty abatement, which allows the tax penalty to be lessened or even forgiven altogether. To be qualified for this program, there must be justifiable reasons supported by evidence for the inability to file tax returns or to pay the taxes due. Some of the reasons include being an innocent spouse, reliance on unsound professional advice, undergone medical issues or some other reason, the penalty abatement may be made available for your case.
It is thus important that penalties and interests are not allowed to reach unmanageable proportions. Do reach out to the tax attorney at the Strom Law Firm, LLC at the soonest possible time for a free consultation for a discussion on how best to solve your predicament with IRS tax debts.
Contact the tax attorney at Strom Law Firm today for a free consultation to discuss your case.