Tuesday, December 8, 2015

Your Tax Problems and Your Tax Attorney

One of the good things about having an IRS tax lawyer is that you have someone who can guide you on the nuances of a tax case. They are also the best resource when it comes to knowing what your options are.

Payment Agreements

With the help of a tax lawyer, you would be able to choose from a number of different ways on how you can settle your back taxes. Some of the options you should consider would include installment agreement and partial installment agreement. The former is typically recommended for those who have been victims of fraudulent investment schemes. On the other hand, those who are on limited income might go with the second option, which allows them to pay the back taxes over a period of time.

Lowering Debt With Settlement

Settling your credit card debt is one way of lowering the back taxes that you have to pay. You just need to make sure that you have a written agreement of how the payment would be made and what the other terms are.

In the same manner, you can also file for bankruptcy in order to get a tax debt relief. This option, however, should only be considered after you have discussed this with your lawyer as you have to meet first certain requirements.

Filing Tax Returns

When it comes to filing taxes, you need to be familiar with the different tax forms. Now, one thing that you need to know about tax returns is that, not filing one can be a problem but not paying one right now is a situation that you can do something about.

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