Tag: IRS Audit Defense

Facing Serious Tax Problems?- Click here to Get the Best Tax Law Attorney

If you owe the IRS a large sum of money, you may be interested in seeking a Settlement of Huge Tax Liabilities. These services advertise on television that they will reduce your tax liability, and you might even be elated. But is it really as easy as it seems? Not always. Here are 10 important rules that every lawyer and client should know. According to a tax debt attorney LA, these rules will guide you through the process, and help you get a better result.

Whether the IRS will settle your case is largely a matter of opinion. There is a small percentage of cases that end up winning. Most litigators estimate that the chances of losing a case are between ten and fifteen percent. However, these factors aren’t reflected in the way the IRS decides which cases should be settled. As long as your case has an acceptable outcome, the IRS will likely accept the settlement.

In the event that your offer is rejected by the IRS, your lawyer can work with the IRS to negotiate the terms of the settlement. While there are no guaranteed winners in these cases, many litigators estimate that there’s a ten to fifteen percent chance of losing the case. In any case, the IRS will not settle for less than what they owe. It also won’t accept offers that would be better suited for a lump sum payment or an installment plan.

While there are numerous ways to settle a huge tax liability, a 50-50 deal is the best solution. In fact, the IRS rarely ignores a settlement agreement. Although there’s no guarantee that the IRS will honor the deal, you can be sure it’s a good deal. You just need to make sure that it’s a good one. It may be worth the trouble. But it’s worth the risk.

A Settlement of Huge Tax Liabilities must be fair. The IRS may try to convince you to settle before the court, but the only way to ensure that you’ll pay less than you owe is to settle for more. If you don’t want to lose your case, consider a lower amount instead of waiting years. If the IRS rejects the settlement, it’ll simply keep pursuing it.

Once the IRS accepts your application, you can then proceed to the next step. If your tax debt is less than $25k, you may be able to go through a Payment Plan. This method allows you to request an affordable installment plan with the IRS. Another type of tax settlement involves an Offer in Compromise. This is a legal agreement between the IRS and the taxpayer, and it involves the settlement of your tax liabilities.

Different and various aspects of tax debt settlement

Raleigh is one of the major cities located in the state of North Carolina. This city boasts of a good economic status and is considered as one of the top destination for relocating. The Raleigh real estate market is now seeing some amazing developments take place since the city is enjoying a booming economy. Now with the help of an experienced attorney you can expect to come out of your debts with ease. Here are some tips and laws that will help you get the best possible deal when settling for an installment agreement with your Raleigh tax debtors.

 

When you are having Raleigh tax problems, it becomes imperative that you act fast and should get in touch with your attorney as soon as possible. One of the best options that you have is to reach out to the NC Department of Revenue which is solely responsible for collecting the taxes in the state of North Carolina. Since they are in regular contact with the IRS, they have all the relevant information on their database and can assist you when you need them. If you are having a difficult time in collecting your accrued taxes from the IRS, you can even request for an extension from them and they can extend your payment deadline or give you an extension till the next year when they will collect your accrued amount. For more information about tax laws and legalities visit https://www.northcarolinataxattorneys.net/raleigh-nc/.

 

An expert Raleigh tax attorney can help you settle your tax debt in as easy and affordable manner as possible. They have access to all the relevant information from the IRS, which is required for such a situation. You cannot expect the IRS to do anything unless you ask them to do so. They are not very lenient on the amount of taxes that they demand from you and hence you should rely on your attorney to help you collect the accrued amount. There are many persons who have no idea that they are liable for taxes and the only thing that they know is that they have to pay them.

 

If you have not been able to pay your dues, then it is imperative that you consult a Raleigh tax attorney as soon as possible so that they can advise you on various aspects of tax debt settlement. For instance, if the assessment is more than what you owe then you must look at options like an Offer In Compromise (OIC). If you have a property that you cannot sell because of the assessment, then you can choose to settle for an OIC. If you have a home that you have mortgaged, you can opt for a mortgage note sale. If you want to settle for an Offer In Compromise, then you should get in touch with an attorney who is specialized in this area. There are many other options available in such circumstances, but it is essential that you take help from professionals so that you don’t end up in more financial trouble.

 

If you have been facing problems in collecting your tax dues, you can also choose to go in for an audit defense. This can be handled by a Raleigh tax lawyer who will defend you in court and help you save money. Such cases are very common in Wake County where the population is aging. There are many people who are unable to pay taxes on time and find themselves behind the bars.

 

There are many instances when you may find yourself in legal trouble. You should therefore seek legal assistance from qualified Raleigh tax attorneys who can guide you through the various options and guide you towards the path that is best for you. You must also ensure that you do not make mistakes in any aspect of the process that can cost you dearly. The tax debt settlement can be advantageous if the assessment is too high and the appeal process takes too long. However, you should not rush into it.