100% of tax payers feel they are being taxed too much, and an equal number harbors a deep-seated distaste for the IRS. OK, I made-up those statistics, but in truth I’ve yet to find a soul who says, “You know, I’m being taxed just the right amount. And thank you, IRS for the stress-free audit. You can call on me any time.”
Obligatory tax-season grumbling aside, of real concern is that many Americans are plagued by legitimate, upsetting IRS tax problems. According t IRS projections, the federal agency anticipates receiving 6.4 million tax debt forgiveness forms by 2012. IRS tax problems may range from owing back taxes, IRS tax penalties, wage garnishments and IRS liens and levies, to name a few. When it comes to obtaining back taxes help, advice on tax debt relief and resolving IRS tax problems, the fastest, most reliable source of information is a tax lawyer.
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The following is a 5-part checklist for determining when is the right time to contact a tax lawyer to resolve your IRS debt problems
1. Know the Role Tax Lawyers Play in Facilitating Tax Debt Relief.
- Tax lawyer – A tax lawyer is an attorney who specializes in the complex field of tax law. Tax lawyers possess the knowledge, experience and strategies to take on the IRS on behalf of their clients.
- IRS lawyers – An IRS lawyer is just another name for a tax lawyer. IRS tax lawyers are experienced in dealing with the IRS on a regular basis and can advise clients of practical options for settling their IRS tax problems.
- Income tax lawyer – Income tax lawyers are licensed tax attorneys who can help resolve a client’s IRS tax problems and achieve the desired tax debt relief.
2. Know When to Seek Back Taxes Help.
- Unpaid back taxes – Failing to settle back taxes will initiate the IRS collection process and compound the debt owed because interest and penalties will be applied at a daily rate. For fast back taxes help, consult a tax lawyer.
- IRS penalties and interest – IRS tax problems are compounded by the interest and penalties applied to individuals who have failed to file or repay back taxes. Speaking with an IRS tax lawyer can introduce options for obtaining back taxes help and possibly result in having penalties removed or interest reduced.
- IRS tax lien and levy – Imposing tax liens or levies legally permits the IRS to seize assets, sell property and garnish wages to resolve back taxes and other outstanding tax debt. IRS tax lawyers can advise clients of their rights and obligations, and explain the collection process and how to release the IRS levy.
- IRS audit – Income tax audits permit the IRS to thoroughly examine an individual’s tax return. It’s nerve-wracking, especially if the IRS determines you underpaid and back taxes are owed. To obtain back taxes help and professional help to simplify the audit process, consult the expertise of an income tax lawyer.
3. Be Aware of Possible Tax Debt Relief Options.
- Tax debt relief can be achieved through several means: penalty abatement, offer in compromise and tax settlement plans, to name a few.
- The best option for individuals seeking tax debt relief is to contact an IRS lawyer to gain a full understanding of tax debt relief options and what the outcome will look like.
- IRS tax lawyers can attempt to negotiate tax debt relief on behalf of their clients through the following:
- Iron-out any discrepancies in the amount of unpaid back taxes
- Stop interest and penalties from growing
- Stop IRS liens and levies on property and assets
- Stop wage garnishment
- Recommend an affordable tax settlement plan and IRS repayment plan for the debtor
4. How Tax Lawyers Can Help With IRS Tax Problems.
- A tax lawyer is familiar with the laws governing local and international taxes.
- An IRS tax lawyer has the knowledge and experience to advise clients of their options for resolving IRS tax problems.
- A tax lawyer will negotiate with the IRS to potentially reduce the client’s tax debt, remove a lien or levy, or stop a garnishment.
5. Is A Tax Consultant Enough?
- A tax consultant is well-versed in state and federal tax law and serves clients by offering advice and assistance for filing routine tax documents.
- A tax consultant can quickly identify issues with a client’s back taxes and similar IRS problems. When IRS problems, tax debts and liens, levies or garnishments are active or immanent, the tax consultant may recommend the client seek the counsel of an experienced tax lawyer to attain back taxes help – and ultimately – tax debt relief.