Taxes got you down?
If you owe income taxes and can’t pay them right now, the most costly mistake you can make is not filing your returns.
First, you will face significant financial penalties for filing late in addition to the taxes and interest you owe. Second, you may lose the right to have some or all of those taxes forgiven should you ever file Chapter 7 or 13 bankruptcy to help pay your debts.
Even though the IRS can seem intimidating to deal with, you still have certain rights as a consumer and there are affordable ways to handle your tax problems. Too many people I see take the approach of not filing tax returns and ignoring the problem until it can’t be ignored any longer.
I am an Authorized IRS Tax Practitioner licensed to defend you against the IRS. I can stop bank or wage levies and help you set up an installment plan. I can help you determine if you are eligible for the Offer in Compromise program offered by the IRS, which allows certain debtors to settle their tax debt for less than the full amount.
For eligible clients I have been successful in obtaining “Currently Not Collectible” status, so that the IRS stops garnishing income and allows deferment of payment when making payments would be a financial hardship.
Finally, contrary to popular belief, taxes may frequently be discharged in a Chapter 7 or repaid affordably through a Chapter 13.
You should always file your returns on time, even if you can’t pay the full amount you owe!
If you owe back taxes now, or are facing some tough financial choices and would like a professional assessment of your options, call us for a free consultation or email .