Finding the Best Solution to Your Tax Problem
When you fail to file a tax return, file a late return, or fail to pay your taxes on time, the Internal Revenue Service (IRS) assesses penalties and interest. And failing to resolve these tax liabilities may hurt your credit and lead to seizing assets you currently own, including bank accounts and real estate. Also, most tax liabilities cannot be discharged in bankruptcy. Only a tax law attorney can help you negotiate with the IRS to provide tax relief.
In most cases, the solution to your tax problem may be simple. Contacting a tax law firm in Pennsylvania can help you resolve your tax issue with one of the following resolutions:
- Installment Agreement: The IRS allows you pay your tax liability in accordance with an installment agreement. An experienced tax law attorney can guide you through different installment plans.
- Offer in Compromise: An offer in compromise is the best solution if you cannot afford to make installment payments. An offer in compromise is an agreement with the IRS that reduces what you owe to an amount you can afford.
- Penalty Abatement: An abatement is possible only if you can show reasonable cause for your hardships. In these cases, the IRS may reduce or occasionally remove the assessed penalties against you.
If you have any tax-related issue, do not hesitate to get in touch with an experienced tax attorney who can help you get on the path to tax compliance.
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