Penfield Debt Negotiation Lawyer
Many people get behind their taxes and have big troubles catching up. If you are one of those who owe money to the Internal Revenue Service and are now intimidated on negotiating with them to resolve your debt, get professional help from an experienced debt negotiation lawyer.
Defense Tax Partners understands that settling tax debts with the IRS can be pretty daunting, especially for people with no knowledge of how negotiation and settlement with the IRS work.
That is why our team of Penfield debt negotiation lawyers is willing to guide you through the most effective process of settling your debts—to assess your situation, share tax law knowledge with you, and help you choose the best negotiation option for yourself.
Once you choose to work with us, Defense Tax Partners can guarantee that your IRS debts will never cost you your home, wages, nor assets. No matter how complex your debt situation may get, trust that our debt negotiation lawyers will work with every possible legal solution to ensure that your negotiation will go as smoothly as possible.
After we figure out the best route in settling your IRS debt, we’ll then prepare all the necessary documents and represent you in negotiating with the IRS. Rest assured that with our in-depth knowledge of tax laws and extensive experience in settling debts for various clients, we will successfully help you regain financial footing sooner than later.
With Defense Tax Partners, you are guaranteed to save more time and money as we take the fastest way possible to stop you from having to pay for more interest. Don’t wait until your debts start pulling you to actual financial doom. Talk to our Penfield debt negotiation lawyer now.
Call Defense Tax Partners at (312) 964-8355 for your Free Consultation!
Tax Debt Negotiation Options
After we get an idea of where you stand with your tax debts, we will walk you through the pros and cons of the following tax debt settlement options:
Fresh Start Program
This is the program that the IRS launched to help people pay their back taxes by giving them up to 72 months to pay the debt fully. Through the Fresh Start Program, you will be allowed to make monthly payments instead of giving a large sum of money as full payment.
If you apply and get qualified for the program, your agreed payment will depend on your liquid assets, income, and the tax amount you currently owe. Also, qualifying for the program means not paying for additional interest, penalties, or wage garnishments.
Entering into an installment agreement will allow you to make monthly payments that will be easier to handle considering how much you earn every month. An expert Penfield debt negotiation lawyer can help you settle with the best installment agreement that fits well with the circumstances you’re in.
Offer in Compromise
This can be a great way to get your total tax debt reduced. However, qualifications are strict when it comes to OIC. Plus, the IRS didn’t establish this program to benefit you primarily. Although you will indeed decrease the amount you should pay, your offer will only be accepted if it provides a great amount of money for the IRS to collect compared to how much they’ll get through forced collections.
Filing for Bankruptcy
Chapters 13 and 7 of the tax code states that income tax debts can be eligible for discharge. Under Chapter 7, the sum of your allowable tax debts will be fully discharged. On the other hand, Chapter 13 will entirely remove some part of your debt and allow you to enter a payment plan to pay back the rest of it.
Innocent Spouse Relief
If your spouse failed to pay their taxes and you have a joint income account, there is a way to relieve yourself from your inherited tax debt. The Innocent Spouse Relief will be an excellent way to settle your debts with the IRS.
Depending on the type of debt you owe to the IRS, you can ask for your penalties to be removed during a settlement negotiation or offer in compromise. Note, though, that the IRS won’t just clear all of your penalties without gaining something. However, if you work with our Penfield debt negotiation lawyer, we will do this in a way that your IRS debt will be significantly reduced.
Release of Wage Garnishments
If you owe the IRS a great deal of back taxes, they will directly take portions of your wages from your employer as payment. This levy on your wages doesn’t usually happen until your accounts have been frozen, and your assets within these accounts have been confiscated.
Once this happens, it is time to contact a debt negotiation lawyer to help you deal with the IRS. If you don’t have the means to meet basic living standards due to the levy, the IRS may lift the wage garnishment.
Release of Bank Account Levy
One of the first things the IRS will do if you owe back taxes to them is issue a levy notice for your bank accounts. They will freeze your accounts 30 days after the final notice. The IRS will then take these funds 22 days after they were frozen.
Remember that once these funds are taken, it is practically impossible to get them back. So before the bank gives your funds to the IRS, contact an Penfield, IL debt negotiation lawyer to help you get the bank levy released.
Expired Statute of Limitations
The IRS has ten years to collect all the back taxes you owe from the initial assessment. With our debt negotiation services, you can use a plan that will let you wait out these ten years and effectively get out of debt.
You can settle your IRS debt with a lump sum payment to get rid of penalties and reduce your overall debt. The IRS will more likely cut a deal with you to collect one large payment to save time and money. It is best to contact a debt negotiation lawyer to help you make a deal that won’t be too hard to handle financially.
Best Penfield Debt Negotiation Lawyer
Not taking care of your tax debts can result in very grave consequences. That is why it is essential to work with a debt negotiation lawyer to help you deal with the IRS and settle your debts.
Before you think about handling the process yourself, know that issues revolving around taxes can get very complicated with legal language and documentation requirements. The good news is, that is where Defense Tax Partners specializes in!
Each of our Penfield debt negotiation lawyer knows how to settle your IRS debt in the most efficient way possible. From the assessment of your situation to the clearance of your debts, we’ll work in a way that will save all associated parties a lot of time, money, and peace of mind.
With our experience in the field and acquired knowledge of taxation laws, we will use the quickest solution to stop the accumulation of your debt’s interest rate. After discussing all of the available options with you, we’ll guide you to enter into the most appropriate debt settlement process.
No matter what type of debt you’re drowning in or what circumstances are preventing you from paying them back, Defense Tax Partners is here to offer our expertise and help you out. Our goal is to give you back your financial freedom, and nothing can stop us from working on it.
Free Consultation with a Debt Negotiation Lawyer
Defense Tax Partners is aware of all the scams popping out everywhere. A lot will offer help to settle your debts, but very few will deliver what they promised. They will often ask clients for an upfront fee and send a half-baked effort to appeal to the IRS. Defense Tax Partners is not one of them.
We have a long list of grateful clients who may gladly testify about how much we have helped them. Rest assured that you are in the hands of legal professionals.
Call Defense Tax Partners at (312) 964-8355 for your Free Consultation!