Woodstock Tax Debt Attorney
Getting drowned in debt is never an ideal situation. It is even all the more problematic if it’s the federal government coming after you to acquire payment. So before the Internal Revenue Service starts emptying your accounts or seizing your properties, work with an expert Woodstock tax debt attorney and settle your debts as soon as possible.
Defense Tax Partners has a team of world-class lawyers whose extensive experience allows them to offer nothing less than premium legal service. We can assess your situation and give expert advice regarding the specific tax debt relief option suitable for your case. We will also help you not encounter the same problem again in the future.
From preparing your legal documents to representing you during negotiations and meetings with the IRS, our tax debt attorney will always give you the best legal assistance. Rest assured, we will help you have your financial freedom back.
Call Defense Tax Partners at (410) 847-2588 for your Free Consultation with a Woodstock Tax Debt Attorney!
Methods for Tax Debt Relief
Your tax liabilities are not something you can run away from. The state of Woodstock and the federal government are relentless in collecting what they think you owe them. However, genuine financial hardships are things they will also consider. This is why several tax debt relief options are made available for taxpayers who are having difficulty in satisfying their liabilities.
Defense Tax Partners can assign you to one of our expert Woodstock tax debt attorneys who will help identify which option best suits your case. We will also take charge of preparing all the necessary documents for your relief application.
Some of the most popular methods for tax debt relief include:
“Currently Not Collectible” Status
The currently not collectible (CNC) status is a payment deferral program offered by the IRS. If the agency or the state of Woodstock awards you the CNC status, you are temporarily free from all collection methods. The CNC status is typically effective up to 2 years, although the IRS will regularly assess if your income still qualifies for the program. It is also important to note that although the collections are stopped, your tax debts are not erased and will continue to accrue penalties and interests.
Filing for Bankruptcy
This debt relief method is commonly used by people overwhelmed by almost all kinds of debts. With Chapter 7 bankruptcy, your tax debts are subject to assessment if they are dischargeable. If you are fortunate enough, you can have all or most of them eliminated. However, if your tax debts are not dischargeable, a Chapter 13 bankruptcy might be a better fit. It will stop the accrual of your penalties and interests and allow you to pay your debts through installments.
Innocent Spouse Relief
If you filed a joint return with your spouse or ex-spouse, you could request an innocent spouse relief if the discrepancy in the tax return cannot be attributed to you. You can qualify for this relief option if you can prove the following:
1. You were not aware or could not have been aware of the error at the time of the filing.
2. It would be unfair to hold you responsible for the resulting debt, penalties, and interests.
3. You and your spouse or former spouse did not transfer any property to one another as an act of fraud against the government or another party.
If you don’t qualify for innocent spouse relief, there are still two options for joint filers: (1) separation of liability relief and (2) equitable relief. Our tax attorney will be glad to discuss these options with you and assess if you are eligible.
Installment Plans
We can also help you establish an installment agreement with the IRS. This will effectively allow you to pay your tax debts over an extended period through manageable monthly installments. We can handle all the needed preparation and provide you with legal representation during the negotiation. Rest assured, we will try our best to give you the best installment terms possible.
“Offer in Compromise” Program
Both the IRS and the state of Woodstock offer this program. An offer in compromise (OIC) is a tax debt relief option that gives you the chance to settle your debt with a payment less than what you originally owe. The OIC program offered by the IRS and Woodstock is similar except for a few procedural differences. Talk to our expert Woodstock tax debt attorney and know if you qualify.
Penalty Abatement
The Comptroller of Woodstock can charge up to 25% of penalties to your tax debt every year. This will make paying your debt in full extremely harder. Fortunately, qualifying for penalty abatement means that all or part of the accrued penalties will be waived. Although you will still have to pay the outstanding principal debt, eliminating the penalties will help speed up the payment process. Our attorneys can help you establish proof of financial hardship and prepare the documents necessary to qualify for this relief method.
Tax Debt Relief Options
Identifying which debt relief option suits you might be more stressful than you first thought.
There are guidelines that you should consider imposed by either the IRS and the Comptroller of Woodstock. You have to prepare various requirements to prove the circumstance/s that will qualify you for either of these options. To make the whole process easier for you and the IRS, our tax debt attorney can provide you with some legal assistance.
We will personally assess your situation and identify the most befitting debt relief option. Preparing all required documents will also be handled for you as well as all the other legal procedures.
Aside from that, our legal services also extend to the following areas:
1. Tax Preparation
2. Passport Reinstatement
3. Tax Resolution
4. Tax Lien Removal
5. Offer in Compromise
6. Innocent Spouse
7. Bank Levy Removal
8. Audit Representation
9. Wage Garnishment Removal
10. Innocent Spouse
Remember, when it comes to tax debts, it is best to resolve them as soon as you can. Work with Defense Tax Partners and allow our Woodstock tax debt attorneys to guide you to the best solution possible!
Let’s Talk Now – Free Consultation
If your tax debts are already piling up, seek professional help immediately. Don’t wait for your assets to get levied or to be forced to file for bankruptcy. Talk to our tax debt attorneys to get assurance and peace of mind as they guide you on how to avoid drowning in debt in the future.
Call Defense Tax Partners at (410) 847-2588 for your Free Consultation with a Woodstock Tax Debt Attorney!