Albion Tax Debt Attorney
Are you having problems with your tax debt because of your financial situation? Are you worried about incurring additional penalties while trying your best to find the money needed to completely pay off your tax? If you answered yes, it’s best to contact our Albion tax debt attorneys at Defense Tax Partners to help you find the solution to your tax debt problem.
Defense Tax Partners is a trusted Albion tax law firm that offers personalized legal services to taxpayers having problems with any aspect of their taxes. For those who have tax debt, our team can help you apply for tax debt relief programs offered by the Internal Revenue Service (IRS) or the Oklahoma Department of Revenue for taxpayers having problems managing their tax debt. We will review your financial capabilities, identify the right tax debt relief program for you and negotiate with the IRS to get your application approved while fighting for lower penalties and fees.
The agencies have ten years to collect your tax liabilities before it is automatically forgiven. However, the longer you wait to pay your tax debt, the higher the amount you have to pay. With our team on your case, you will be able to see an end to your tax liabilities and live a life free from tax debt-related stress!
Call Defense Tax Partners at (405) 963-3143 for your Free Consultation with an Albion Tax Debt Attorney!
Methods for Tax Debt Relief
The IRS and the Oklahoma Department of Revenue are mandated by law to collect the right amount of taxes from earning US citizens and legal residents. If a taxpayer is unable to pay off their debts, the two tax agencies are given several powers to pursue these taxpayers and get the debt back. However, if the taxpayer in question is unable to pay off their tax debt for an acceptable reason, these agencies do offer various tax debt relief programs to help them manage their tax debt.
Our Albion tax debt attorneys at Defense Tax Partners can help you apply to one of the following tax debt relief methods:
“Currently Not Collectible” Status
If you can’t pay your tax debt any time soon, you can apply for the currently not collectible status. Under this status, the IRS will postpone tax collection until you are ready to pay off your debt. It is important to note that the IRS will review your financial activity regularly to see if you will be able to pay off your debts, and you will still incur interests and penalties while the status is active.
Filing for Bankruptcy
One of the most common ways to satisfy tax debt is filing for bankruptcy. While it can be a black mark in your credit history and affect your capacity in getting any future credit, it can either get rid of the entire debt or a part of it. Chapter 7 bankruptcy allows you to get rid of either a part of the debt or the entire debt if they will be considered as dischargeable debts. Meanwhile, Chapter 13 bankruptcy allows you to negotiate for a repayment plan with the IRS that can span from three to five years and only pay lower penalties and fees on top of your monthly payments.
Innocent Spouse Relief
If you want to be freed from scrutiny from your spouse or ex-spouse’s tax debt and other tax violations, you can apply for an innocent spouse relief. Under this program, you can argue to the IRS that you have no idea about your spouse or ex-spouse’s financial activity and liability.
Defense Tax Partners can help you apply for this program and other similar relief options such as equitable tax relief and separation of liability relief.
Installment Plans
Requesting an installment plan for your tax debt is the most common way to get tax relief. The IRS prefers this program because this will allow them to collect the entire tax debt even if the installment plan will last for years depending on the amount. Usually, the installment plan can span for six years and have a reasonable monthly installment plan that is agreed upon by the taxpayer and the IRS.
“Offer in Compromise” Program
The “offer in compromise” program is open for taxpayers who cannot afford to pay their tax debt even with an installment plan, property levy, and other debt relief programs. If you qualify for the program, you may be able to settle your tax debt by paying an identified portion of the tax debt – usually 20% of the total debt – and get the rest forgiven. We can help you negotiate the best terms to ensure it matches your financial capability.
IRS Tax Debt Attorney
The IRS offers a wide variety of tax debt relief programs for struggling taxpayers who can’t pay off their tax debt on time or completely. However, getting into either one of the programs available is very tricky because of the strict eligibility requirements and complex review procedures. You will need to prepare a lot of documents to prove your eligibility, which can be very confusing to complete.
With a qualified and experienced Albion tax debt attorney, you will be able to apply for a tax debt relief program easily and have higher chances of getting it approved by the IRS. We can sit down with you to determine which debt relief program is ideal for your situation, help you with your application and negotiate with the IRS to get your application approved. We will do our best to help you manage your finances better to prevent any potential tax issues from occurring in the future.
Defense Tax Partners can also help you with the following tax situations:
1. Tax Preparation
2. Passport Reinstatement
3. Tax Resolution
4. Tax Lien Removal
5. Bank Levy Removal
6. Audit Representation
7. Wage Garnishment Removal
When you reach out to us, we will personalize our services to suit your situation and get to work on resolving your tax debt as fast and efficiently as possible. We can also deal with both federal and state tax issues, reducing the need to hire another law firm to help you out. You can definitely trust Defense Tax Partners for all your tax needs, no matter how simple or complex they may be.
Let’s Talk Now – Free Consultation
Tax debt can easily be resolved if you are able to act on it as fast as possible and seek a better repayment plan from the IRS.
With Defense Tax Partners on the case, we can immediately determine which tax debt relief program works best for you and help you apply for them before your debt spirals out of control. Contact us immediately to find out how you can get your tax debts resolved without affecting your financial capacity!
Call Defense Tax Partners at (405) 963-3143 for your Free Consultation with an Albion Tax Debt Attorney!