BEST TAX RELIEF ATTORNEY

Many people simply forget to pay their taxes for a long time or may not find it possible to pay at a given time for various reasons. They wake up to find that they owe a fairly big amount to Internal Revenue Service (IRS) i.e. they are in a tax debt. Opting not to pay the amount is a bigger risk as you stand to lose even more than you owe. Some people think that filing for bankruptcy will pull them through but they are gravely mistaken. The laws are too strict to excuse any tax debt. Rather than running away from IRS one could do better and approach IRS who can offer solutions to the tax debt.

When one intends to settle the tax debt he should have a look at the tax returns to see if any tax waivers have been missed. This would help reduce the tax liability to some extent. There are many schemes available to settle the tax debt. You could approach the local IRS office to start the procedure or consider consulting a tax attorney. Before you decide to go alone and work out on the tax debt settlement, it is advisable to do an in-depth study of the various options available. Taking the help of tax attorneys is a better option. They would be better equipped with the minute details of any tax waiver that may be used and the appropriate settlement method to be used to pay the least.

IRS Tax Debt Settlement is fast becoming the popular form of debt relief. It is well known that by following certain IRS guidelines one can actually pay less than what is owed. An average settlement is of 12 cents on a dollar, though some may have to pay lesser or higher than the average. IRS allows this tax debt relief on the premise that the taxpayer would in future stay in compliance and pay the taxes on time.

This comes out of the consideration that however much the IRS tries they would not be able to collect the entire amount. This type of relief program is called as Offer in Compromise, which can be availed for personal, as well as business tax debt. Depending on the final amount that is reached you may pay the amount as an initial payment and remaining through regular tax payments. You can get the amount reduced which you currently owe and the remaining is paid in the long-term plan.

There are times when you may have lost some records. In such situations the IRS Tax specialists can assist you in making a fairly accurate calculation of back tax returns. There also exists an IRS Installment plan that allows the taxpayer to pay the tax amount over a period of time. The taxpayer has to pay the correct amount at the set date so that no further legal tool remains in the hand of IRS. The only drawback of this scheme is that the future installments also include additional interest and penalty amount, taking the tax liability much higher.

If you or your tax attorney is able to present a fairly neat and clear case of why you have not been able to pay tax, the option of Penalty Abatement can be used. It means that you may not have to pay at least some part of the penalty. The final option is to get placed in the IRS’s Currently Not Collectible status, which stops the IRS from collecting any further. Under this, even if after 10 years the IRS is unable to recover then the debt cannot be recovered after that.

IRS makes sure that they get back whatever tax the person is liable to pay. However, they make all possible efforts through various plans to ensure that people pay.

By: Kris Koonar

This probably won’t come as any great shock, but it’s never a good idea to go into an IRS office by yourself if you discover that you are being audited or that the IRS is looking upon you with suspicion. In such a case, you’re always better off taking a tax attorney with you. And while hiring a tax attorney may seem like a financial burden, it’s a burden that you need to shoulder. The cost of using a tax attorney is far less than the potential cost of not using one if you end up having to pay dearly as a result of an audit.

Here are five reasons you need to hire a tax attorney:

1. The main reason to hire a tax attorney is peace of mind. There are few things in life more frightening than finding out that you are the target of an IRS audit, but hiring a tax attorney can keep you from being completely overwhelmed and filled with dread. You should never attempt to represent yourself in such a situation as tax law is a complex field and should be left to a seasoned professional.

2. A good tax attorney has lots of experience dealing with the IRS and knows how negotiate with them. They know all about tax liens, levies, and tax debts, and can ensure that you end up with as little tax debt as possible.

3. There exist two different kinds of tax attorneys. The first kind is a personal attorney. A personal attorney can help you if you are personally audited by the IRS. And, as the name suggests, a corporate attorney will assist you if your business is audited by the IRS. Be sure to hire an attorney that can help you with your specific needs. Hiring a personal attorney to help with a business audit may provide some benefit, but you won’t get the expertise from a personal attorney that you would get from a business attorney. But whether you need a personal attorney or a corporate attorney, an experienced IRS attorney will make sure that you avoid the maximum penalties that the IRS can issue to you.

4. The auditor is not your friend. No matter how friendly and helpful he or she may seem, the job of the auditor is to get as much money out of you as possible while still following the law. The job of the IRS attorney, as much as possible, is to keep the auditor out of your money. Stand back and let them do their respective jobs. You’ll sleep much better at night.

5. Seasoned tax attorneys know tax law inside and out. They know the loopholes, they understand the legalese, and they know how to negotiate. Don’t be tempted by the prospect of quickly studying tax law. You’ll never be as effective in your own defense as a tax attorney will be.

While it’s true that hiring a tax attorney can be an expensive endeavor, in the end, you can’t afford not to hire one. Given the amount of money that you can save by using the services of an experienced attorney, and given the peace of mind that comes with knowing that a professional is looking out for your best interests, the price of a tax attorney is well worth it. When you have a tax attorney on your side the first time you walk into the office of the auditor, you’ll realize just how much you’ve saved in anxiety and, if all goes as it should, penalties. So get recommendations from friends and families and hire a reputable local tax attorney. You’ll sleep better!

By: Seomul Evans

Most business people or professionals break out into a cold sweat when they get a letter from the IRS regarding the returns filed by them. The IRS or Internal Revenue Service is entrusted by the U.S.Government to collect taxes from citizens.

When you file your tax returns to the IRS, they process the information. You will normally, be intimated by the IRS when they feel that you have submitted incomplete or fraudulent information, or if the tax figures you have calculated do not match with theirs, while filing your returns. They will then send you a letter specifying the information which is required by them and the date when either you or your tax attorney have to meet them to sort out the problem.

In case you personally visit the IRS Office, then there are certain rights, which you can exercise. Whatever talks and issues you settle with the IRS remain confidential. You also have a right to know why you have been called, and the use of information you provide to them has to be explained to you. The IRS employees also have to treat you professionally and with respect. You have the right to complain or write to the employee’s supervisor or the IRS director, if you feel that you are not being treated well.

You can visit the IRS Office in person or you can have your certified public accountant, your attorney or your enrolled agent represent you by intimating the IRS in writing. You can also be accompanied by them during an interview. If you intimate them 10 days in advance, then you can also make a sound recording of your meeting or appeal or examination. As per the law, you have to pay the right amount of taxes and if you are unable to do so when it is due, then you can also pay your taxes in monthly installments. If you are unable to solve your problem with the IRS, then you also have a right to contact the local Taxpayer Advocate Service.

They can help you in solving your problem. In case you do not agree with the IRS decision regarding the amount to be paid or any other clause, then you have the right to get your case reviewed by the Appeals Office. You can also go to court regarding that matter. If the case is decided in your favor, you could also recover some of the administrative or litigation costs. You can also get relief from certain penalties if you can convince the IRS that you had acted in good faith or had relied on the incorrect advice or information of an IRS employee. The interest can also be waived off if they are responsible for any mistakes or delays. If you are entitled to a refund, then the IRS has to pay you interest on that refund, if they delay it by more than 45 days of your claim being passed.

So, when dealing with the IRS, it is better to be well informed rather than ill informed. Knowing what to do and what not to do can make the difference to the case!

By: Kris Koonar

If you are running a business or are a professional, then you have to pay your taxes regularly and correctly. These taxes are collected by the IRS and when they are not satisfied with your returns, you get a letter from them. You then have a choice of handling the problem yourself or let a professional handle it.

You have a choice of either hiring an enrolled agent or an attorney or a CPA [Certified Public Accountant to handle your problem. With their experience and knowledge, they can save you time and money, and in most cases you will not have to personally go to the IRS Office. The key here is to choose an efficient and honest tax professional who can solve your problem in the least amount of time and whose charges are reasonable. You can start by asking your friends or relatives who have had to use their services and who could recommend names.

While an enrolled agent is a tax advisor who also prepares your tax returns and has to have more than 5 years of IRS experience, he still cannot represent you if your case goes to court. A Tax attorney is an expert in Tax laws and should have a law degree and experience in handling tax returns. The CPA does tax auditing and filing of tax returns and is licensed. You could also get their names from advertisements or the Internet.

The point to be taken care of when you are choosing a Tax professional is to check out his knowledge and work experience in handling similar cases. He should have knowledge regarding the latest amendments of the IRS rules. He should have been in the line for some years at least and should have handled similar problems. You can ask him for the names of people whose cases he has handled and cross check with them. You can ask them about his fees, the time taken for him to solve the problem and whether they were satisfied with his handling of the case.

When you ask your Tax Professional regarding his fees, make sure that those fees include everything, right from his traveling expenses to his filling and filing of IRS documents and his personal interaction on negotiating with the IRS. He should be able to provide you with the break-up of his fees. The Tax Professional should show personal interest in your case and his firm size should be right enough for you. If you are hiring a Tax Attorney, he should be a specialist in handling tax matters, rather than any other field. There are many ex-IRS employees who have started their own business after their retirement. They could be of great help, since they are already familiar with the inside procedures of the IRS.

While choosing your Tax Professional, you should ensure that you have a clear communication channel with him and he should be also be comfortable in handling the IRS employees, without any issues. He should be able to solve your problem in a calm, quiet way with the least interference in your business or personal life.

By: Kris Koonar