If you find yourself in the position of owing the IRS money, you have likely paid attention to the many commercials on television for law firms who claim to have the ability to reduce your tax debt to a fraction of the price. Unfortunately, as with any offer that sounds too good to be true, many of the claims made during these advertisements are just that. However, in hiring an experienced attorney, there are ways in which you can save money and have your overall tax bill reduced.
Hiring the right attorney can make all the difference when you find yourself under pressure from the IRS. In working with a large law firm, you may very well end up paying a high price simply to have some routine paperwork filed and nothing more. As time is critical and each case is different, it is important that you find an attorney who will fight for you. The experienced attorneys at Gilland Law Firm will work with you to create a personalized approach based upon the circumstances of your individual case. In consistently striving for an ideal, yet realistic outcome, the attorneys at Gilland Law Firm have helped hundreds of individuals reduce their back IRS tax debt. Listed below are answers to some of the most commonly asked questions.
Can IRS debt really be reduced?
In some cases the answer is a resounding yes, while others may prove far more difficult. Whether the IRS chooses to reduce your tax debt depends on a number of different factors. Are you currently able to make a full lump sum payment? Will you be able to pay this debt in the future? If the answer to any of these questions is yes, then it may be fairly difficult to have your IRS bill reduced. After all, the IRS is in the business of collecting money, not giving it away. However, there are different avenues which can be pursued depending on your current financial standing. This is where an experienced attorney can help you find the best course of action, as well as explain all the options available based upon your individual case. You may qualify for an Offer in Compromise which can see your total debt amount reduced, or one of the different options listed in the IRS's "Fresh Start" initiative. In order to find out if these options can be applied to you, speaking with a knowledgeable attorney can often be the best course of action.
What circumstances would allow for me to pay less than the total amount assessed?
As stated above, there are a number of different circumstances which may allow you to pay less than the total amount assessed. The IRS's "Fresh Start" initiative was introduced to help unemployed taxpayers by forgiving penalties resulting from failure to pay. This can often be a huge victory for a financially troubled taxpayer, as penalties can often be some of the most significant amounts on an IRS bill. Another route your attorney can choose to pursue is an "OIC" or Offer in Compromise. An "OIC" is an agreement between a taxpayer and the IRS which settles the taxpayer’s tax debt for less than the full amount owed. In order to be considered for an OIC, you need to show the IRS that you are not able to pay the full amount in a reasonable amount of time either as a lump sum or over time through a payment agreement. Other common examples are situations in which paying your full tax bill would be considered an economic hardship, or whether any uncertainties pertaining to the tax liability exist. While proving an uncertainty regarding your tax bill is fairly rare, if you can show that paying your full tax bill would deprive you of basic living essentials, you may be able to prove an economic hardship exists. While these options are available for all taxpayers to pursue, they can often be very difficult to attain. In hiring an expert attorney, your chances of reducing your total amount due to the IRS will be greatly improved.
Why should I work with a lawyer to settle my tax debt?
As in any circumstance where you find your money and financial future at stake, hiring a professional can give you both peace of mind and the best possible outcome. Trying to fight the IRS alone can often be a daunting and a tiresome task. Knowing that you have an expert in your corner, as well as knowing what to expect, can often make this difficult situation a little easier. In working with a lawyer to settle your tax debt, you can rest assured that you have both their experience and wealth of knowledge going to bat for you. Hiring an attorney when dealing with a hefty IRS bill is becoming increasingly common due to the number of success stories in recent years. These success stories all stem from having an attorney who has made a career of dealing with the IRS every day for their clients. Why take the risk of going it alone when you can call for a free consultation? After all, you have nothing to lose except for some figures on your tax bill.
How do I know tax debt negotiation is not really a scam?
Unlike many offers out there, the attorneys at Gilland Law Firm are not in the business of offering unrealistic outcomes concerning your IRS debt. Instead, during your initial consultation, an attorney will hear the circumstances of your particular case and assess what course of action would be best for you to take. The phone consultation is completely free and there is no obligation upon its completion. In speaking with your individually assigned attorney, you may then make the decision whether you would like to proceed with their services based upon what you have heard.