Thursday, October 15, 2015

Help with Tax Troubles

Many people end up in debt to the IRS through no fault of their own. This could be due to a bad business partner, an unfortunate financial situation like job loss, a deceptive spouse, or other reasons. All the same, those people might feel guilty and ashamed as letters from the IRS pile up and wages or benefits are garnished.

Financial Worries

Often, people do not pay their debts because they are unable to and not because they do not want to. Dealing with a bureaucracy like the IRS can feel overwhelming. However, if tax problems are not dealt with, they can spiral out of control.

Legal Options

If you have run into problems with the IRS, you might feel as though you do not have any options. Although communications from the IRS might seem intimidating, it might be possible to get even a large tax bill reduced to a manageable amount. This is known as an offer-in-compromise.

This deal does come with restrictions including the necessity of filing and paying your taxes on time during and after the compromise period.

Tax Lawyer Help

A tax lawyer may be able to help with the ins and outs of the system and produce better results. For example, many taxpayers do not realize that they can appeal the rejection of an offer. A tax lawyer may also be able to assess what constitutes a reasonable offer.

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