Offer In Compromise For Unpaid IRS Taxes

What You Need To Know

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Lump-Sum Or Offer In Compromise Options For IRS Tax Levies

Whether you have a lump sum money that you wish to offer or as an offer in compromise or whether you intend to get set up on a payment arrangement to help you pay down your past-due taxes, this can avoid negative consequences such as an IRS bank levy, wage garnishment or federal IRS tax liens. All of the issues surrounding IRS problems have to do with complicated federal regulations and laws and therefore, you need an attorney who is highly knowledgeable about how to best protect your interests from the moment you begin receiving correspondence. The sooner you act by hiring an experienced attorney the more prepared you will be to handle this situation. Contact our office for assistance today.

IRS employees are trained to gather as much information from you as possible which could later be used against you if you fail to agree on the payment plan amount. This roadmap will be used to help them decide when and how they want to institute a bank levy, place liens, or seize your assets.

Compromising On Unpaid Taxes In Florida

When you need help negotiating with the IRS or getting back on track with a tax payment plan, you need the assistance of a Florida unpaid taxes attorney. Any business or individual taxpayer who receives a notice from the government regarding back or unpaid taxes must understand the urgency of their situation.

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Florida Unpaid Taxes Help

There are many different reasons people find themselves having unpaid taxes including an audit that led to a tax deficiency, underreporting income, overstating deductions, or not filing and having the IRS prepare a substitute for return.

Tax debt, however, can accumulate extremely quickly. The IRS can assess penalties for failure to file or underpayment and interest can also accrue from the required filing date for every tax year.

Offer In Compromise For Unpaid Back Taxes

Unpaid back taxes can often be overwhelming for anyone who receives a notice from the government directly. It may be tempting to ignore this entirely because you were unsure of what to do to get back on track.

Payment plans are available but if you wait too long, the IRS can take additional action. An Offer In Compromise may be an available option for you.

Offer In Compromise

The sooner you take action, the less likely you are to suffer the severe and catastrophic consequences of unpaid taxes. An Offer In Compromise is essentially an offer to settle for less than your current tax liability amount. You are offering the IRS a lower amount that becomes part of an agreement. This is a good option for those that don’t qualify for an installment or payment plan.

Don’t wait too long to get help because your future is on the line and there are many different benefits afforded to you when you retain an attorney who has practiced in this field for years. Do not try to negotiate with the IRS on your own or to ignore this information entirely. Getting prompt help from an experienced Florida unpaid taxes lawyer is the only way to protect your future. Contact us today.