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Tax Debt Relief for Businesses in Utah

Experienced Salt Lake City Tax Attorneys

The Internal Revenue Service has virtually unlimited power whenever it decides to audit a business. Tax debt is a burden that does not go away – it just continues to grow and cause more problems for a business owner the longer that the issue is left unresolved.

From the very first notice that a business owner receives in the mail from the IRS, a reputable Salt Lake City tax attorney should be called. In Utah, one of the most reputable tax debt relief firms is IRS Law Pros, a division of Pearson Butler.

IRS notices should not be ignored even for a second. The IRS can levy the payroll of the business, seize assets, and even dip into the Accounts Receivable in order to pay back debts that it says that your business owes. If you choose to ignore notices, you are not considered innocent until proven guilty. With the IRS, it is the other way around. Ignoring a notice basically, confirms your guilt to the agency and allows them to move forward with more aggressive tactics of collection. If nothing else, you should immediately handle IRS notices in order to put off paying them immediately.

What Can The IRS Do To Collect From My Business?

The IRS can do basically anything that it wants up to and including shutting down your business and liquidating all of your assets in order to collect from you. It will usually not take this drastic step at first, however. Here are a few things that the IRS is known to do to businesses in order to collect an alleged tax debt.

  • First, the IRS has the ability to take over payroll. This means that a business owner will not be able to pay his or her employees; that money will go directly into the pocket of Uncle Sam.
  • Second, they can also seize and liquidate the assets of your business and even your personal assets. If you are in a business such as transport or textiles that relies on large hardware, this can destroy your company. The IRS has even been known to liquidate computers without allowing companies to back up proprietary information.
  • Third, the IRS has the power to reach into your bank account and your future bank accounts. This means that all of your personal and business accounts are at risk no matter the type. Certificates of deposit, mutual funds and other investments as well as long term investments such as IRA accounts and pension accounts are up for grabs if you do not take care of your tax problems as soon as humanly possible.

If you do not have the money to cover a tax debt by liquidating assets and stealing money from your employees, the IRS can liquidate the monetary value of your business, effectively putting it up for auction to the highest bidder. Although this is usually the last step in a process, it is completely legal and has been done. Do not underestimate the willingness of the IRS to take your company from you.

Can Payroll Tax Problems Be Fixed?

Payroll problems are perhaps the most difficult of IRS problems. Not only are they attacking your livelihood, but also the livelihood of the people who entrust their livelihoods to you. It's a dirty tactic; however, there are ways to fix them.

At IRS Law Pros, we will take advantage of every delay tactic and extension that you have available to you under the law to give you time to prepare your payroll. While we are giving you time to keep your employees paid, we will be preparing your records so that you can properly show the IRS the records that they need to see.

Why Work With A Lawyer To Fix Tax Debt Problems?

Our Salt Lake City tax lawyers will have access to many more options than the layperson. The court system tends to respect the opinion of a professional attorney more readily than that of an individual who is representing him or herself. Things that a court would allow if brought forward by an attorney might not be allowed if brought forward by an individual, especially if the IRS argues well against the measure with no professional opinion to counterbalance the decision of the court.

A professional attorney will also be able to better administrate your case against the IRS. If you miss deadlines or certain paperwork is not filed, then you may lose certain rights that cannot be retrieved. The scare tactics of the IRS are meant to make you do just this. However, an attorney who is experienced at dealing with such tactics will be able to protect you from them.

There is also an emotional component to getting audited or otherwise harassed by the IRS. You are under a great deal of pressure, especially if the livelihoods of your employees or family are put at risk. You should not have to make financial decisions under that kind of emotional pressure. Our firm will be able to direct your mindset without the emotional pressure, helping you to make better decisions for yourself, your company, your family, and your employees.

The IRS will also not be able to pressure you into quick decisions with Attorney Gilland on your side. Without an attorney, you will likely cave into the first and worst option that the IRS gives you. Simply retaining an lawyer can help you to save money even if you do not want to take the case to court.

Tax Debt Relief Programs For Businesses

There are many solutions that are available to you if you act quickly. The earlier that you call IRS Law Pros, the faster that you can put the following solutions to work for you, including:

  • Offers in Compromise (OIC): Taxpayers may be able to pay less than what they owe to settle their business's tax debt with the IRS. This option is available to approved and qualified applicants who have filed required tax returns, current tax payments have been made, and federal tax deposits for any employees have been met.
  • Penalty abatement: With penalty abatement, a tax debtor can actually reduce the amount owed to the IRS by around 25%. There are new policies that have expanded the number of people who are eligible for the penalty abatement program. If you have been unemployed or if your income is below a certain threshold, you have a much better chance for qualifying - but you will only know for sure with the right lawyer on your side.
  • An installment payment agreement: You do not have to pay the IRS all at once. There are options available for affordable monthly payments to the government agency over a term. This should be done if you owe less than $10,000 in back taxes; otherwise, you will need to consult a tax professional and Pearson Butler in order to gain full access to all of your options.
  • Bankruptcy: Contrary to what many people believe, bankruptcy is one of the options on the table when dealing with the IRS. However, bankruptcy is one of the more complicated legal procedures that a person can undertake. When the IRS is the opposing side, you had better be sure that you have the right kind of legal defense on your side with Pearson Butler. Rest assured that even if you try to protect yourself and your business using Chapter 7 or Chapter 13 bankruptcy, the IRS will do its best to interpret the law against you in order to extract money.
  • The statute of limitations: Just like any other type of criminal or civil case, the IRS only has a limited amount of time to collect back taxes from you. For the most part, this period is ten years. This can be used to your favor: For instance, in some cases you can use hardship status in order to extend your payments beyond the statute so that they end up not having to be paid at all. If these strategies are available to you, you can believe that Pearson Butler will be on top of it for you.

Why Work With Our Law Firm?

Our firm has years of experience dealing with the IRS with hundreds of successful outcomes for clients. The reputable experts here will ensure that your business stays alive while getting rid of your tax debt burden through a detailed strategy that ensures your compliance with Utah law as well as with federal law.

Dealing with IRS Law Pros, a division of Pearson Butler, is also a good move because you know you will have the most experienced attorney on the job for you. We do not pass off work to inexperienced paralegals or rookies – when we say that you are working with the attorney in the picture, then that is who will be handling your case.

We will develop a specialized plan that will address your tax debt relief needs specifically. We will make sure that this plan keeps you current with Utah law as well as federal law.

We have created plans that have done the following:

  1. Reduced back taxes for our clients
  2. Fixed payroll tax problems for client companies
  3. Removed tax liens from the IRS on your personal income and on your business
  4. Stopped tax levies
  5. Conducted IRS appeals
  6. Taken advantage of Offer in Compromise (OIC) rules that mayallow for a significant reduction in tax debt

Give us a call at our Utah office at (801) 509-9962 so that we can put decades of experience to work for you. Do not let the IRS destroy your hard earned business based on a few notices in the mail. Keep your payroll solvent and your company open with the help of our Utah tax attorneys.

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