When you first received the IRS notice in your mail box, do you remember your feelings at that time? Your heart started pounding so fast that you didn’t know what you should do and who you should turn to for help. You were so nervous, may be, because you had heard so many stories related to IRS tax issues. But all of it appeared to be so overwhelming and scary that you did nothing and received a wage or bank levy in the end. IRS tax relief did not look to be possible. It all seemed to be a very complex issue, and in the end making you seem like a deer in the headlights, unable of taking action to even help yourself.
Now, just imagine if someone else, who is an expert in this field, deals with this matter in the right way instead of you. A tax relief attorney deals with this sort of thing all the time and who knows how to make settlements with IRS. So, a capable tax attorney would get the best deal for you by creating some IRS tax relief in your favor. You would be able to sleep peacefully at night.
An expert tax lawyer, hired by you, deals with your IRS tax debt, in such a way, that you can easily get some IRS tax relief. You may feel that the fee you are paying to your attorney is not worth it or that you can handle the situation yourself. There are various reasons that you must hire a tax professional. For example, did you know?
- The $150 application fee you pay can be lost, if your “offer in compromise” is not accepted.
If the IRS does not agree to your offer, the 20% down payment or monthly payments, you need to make while the offer is under consideration, will be kept and applied to your already standing tax amount.
When an offer is submitted in compromise, it extends the time period in which IRS has to collect the tax from you. If you do not have a professional who can understand the offer process, your offer may not be accepted and you will not getthe IRS extra time to collect the money from you.
A type of IRS payment plan is also available which, under the right circumstances, is chosen rather than submitting an “offer in compromise” and will not extend the tax collection period for IRS.
- A Chapter 7 bankruptcy is preferred to an “offer in compromise” given the right circumstances.
An expert tax lawyer would be able to evaluate your financial situation and devise the right IRS tax settlement process to your specific situation. When you are in a situation, and you are looking for IRS tax relief, you are on the verge of losing a lot just by handling the case yourself. So you must be careful while dealing with a tax situation.