Are you drowning in tax debt and penalties? The Internal Revenue Service (IRS) is a difficult creditor to shake. Hiring an experienced tax settlement attorney can give you the relief you are seeking.
Unfortunately, taxes are not always dischargeable under a bankruptcy. Often the only solution to individuals seeking relief from tax debt is to work out a payment arrangement with the IRS. Apart from bankruptcy, there are four tactics to settle with the IRS.
- Installment agreement: a monthly payment plan for paying off the IRS.
- Partial payment installment agreement: a fairly new debt management program where you have a long term payment plan to pay off the IRS at a reduced dollar amount.
- Offer in Compromise: a program where you can settle your tax debts for less than what you owe. Requires making a lump sum or short term payment plan to pay off the IRS at a reduced dollar amount.
- Not currently collectible: a program where the IRS voluntarily agrees not to collect on the tax debt for a year or so.
With each year, tax debt can accumulate at staggering rates. Hiring an experienced attorney to assist in negotiating with the IRS can provide relief from past tax debt and a clean slate for future tax years.
If you are seeking relief from tax debt and penalties and would like to speak with an experienced settlement attorney, call Skinner Law Group today at (480) 422-3440 to schedule your informative consultation.