HomeTax Law/BusinessWhen To Hire A Tax Debt Attorney?

When To Hire A Tax Debt Attorney?

Tax debt can be very overwhelming. It can also cause a lot of financial hardships for the taxpayer. When tax debt is not handled properly, it can cost the taxpayer a lot of money – in fines and penalties, interest, and so on. Therefore, tax debt attorneys play an important role in any American taxpayers’ life. If you are looking for skilled tax lawyer, check out Defense Tax Partners website at www.coloradotaxattorneys.net/tax-debt-attorney-loveland-co/ for guidance and Free Consultation!

Tax Debt Attorney

 

Tax debts are often dischargeable under some circumstances: Filing taxes timely (your timely filing is not dischargeable unless you are guilty of tax evasion) Your tax debt is not frivolous or fraudulent. You did not intentionally fail to pay your taxes. Taxation was not due more than three years prior to a complete bankruptcy filing. The tax relief being claimed did not result from illegal conduct. You met all requirements as defined by IRS regulations.

 

In other cases, tax debt help may be available. These include: recovering back taxes from taxpayers who no longer can afford to pay them; settling tax liens; recovering government seized property taxes; claiming wage garnishments; and claiming tax credits and interest deductions. There are also tax debt attorneys who work to resolve claims of errors and omissions in federal tax returns and state tax payments.

 

There are many nuances and complexities involved in the tax laws of different states, provinces and even counties. Tax attorneys have a lot of experience in dealing with these and other related federal and state income taxes. They can advise and explain the complicated tax laws that most taxpayers are unfamiliar with. Attorneys can also negotiate with creditors over payment agreements and other settlements that are often a part of divorce proceedings.

 

Another way to get tax debts help is by filing for chapter 13 bankruptcy. This process will discharge your federal and state taxes, including penalties and interest. However, it may not remove your criminal liabilities. Only an experienced tax debt attorney can determine if you qualify for chapter 13 bankruptcy. The process of bankruptcy may not be appropriate in all cases, especially if you do not have enough assets to satisfy the entire liability.

 

For taxpayers whose circumstances are more complex, a tax debt attorney can also represent them in court. They can negotiate with creditors and the IRS to reduce the amount of back taxes, settle the penalties or interest, or eliminate other possible charges. They can also file motions to reduce the penalties or interest.

 

Many tax lawyers also work as enrolled agents. Enrolled agents work with their clients to gather the paperwork and documentations needed to file federal and state income tax returns and repay their back taxes. In some cases, enrolled agents also negotiate with creditors to resolve delinquent accounts. They may also represent taxpayers in court proceedings and work to obtain the best possible tax resolution for their clients.

 

If you’re faced with owing back taxes or tax debts, you should seek help from a qualified tax debt attorney. They will assess your case and discuss your options. Before hiring an attorney, you should determine what options are available to you. Have your back taxes investigated. Contact an enrolled agent. A tax debt attorney can discuss your case with you, review your options, and work with you to achieve the best tax resolution for you.