Offer in Compromise
An offer in compromise (OIC) is an agreement whereby the IRS allows you to settle your outstanding tax liabilities for less than the total amount owed. If you're unable to pay the entire amount of tax that you owe, or doing so would create a financial hardship for you, this is a useful resolution to pursue.
The Internal Revenue Service will consider the facts and circumstances of your situation before approving an offer in compromise. These include your income, expenses, ability to pay, and asset equity. If approved, you can choose to pay your liabilities through a lump sum or periodic payments.
The tax attorneys at Brotman Law have considerable experience navigating the offer in compromise process. We'll work with you to ascertain if you're eligible and put together a strong case based on your circumstances to achieve a favorable outcome.
Back Tax Resolution
The federal, local or state tax that was owed in a previous year is collectively referred to as back taxes. These were either fully or partially unpaid in the year that they were due. Taxpayers are liable to not only pay the back taxes but also pay any fines, penalties and interest that has since accumulated.
There can be significant consequences if you don't pay back taxes. The government has wage garnishment powers and the ability to seize your assets, including bank accounts. However, a back tax resolution that works in your favor isn't impossible to achieve.
Even if you have significant tax debts, the Brotman Law IRS audit attorney assigned to your case will diligently pursue it to secure debt relief. We specialize in providing back tax resolution services with a particular focus on utilizing our knowledge of the tax code to save clients from a tax lien, penalties, and tax levies.
Installment Agreement
It's possible to negotiate payment plans, otherwise known as installment agreements, with the Internal Revenue Service to settle your tax debts over an extended timeframe. An IRS installment agreement enables you to pay your tax debt by making monthly payments.
Considerable negotiation is often required with the IRS to settle on an agreeable payment plan. Payments can be made through automatic withdrawals as well as through a debit or credit card. If you don't make payments on time, the IRS has the authority to void the installment agreement.
When negotiating installment agreements for clients with the IRS, our focus is to deliver an outcome that enables them to settle their outstanding tax liabilities in full without having to pay penalties or make upfront payments. This provides clients with clarity on the amount of tax debt they need to pay each month and allows them to plan their finances accordingly to remain in compliance with the installment agreement and make a fresh start.
Statute of Limitations Review
The IRS is bound to a ten-year statute of limitations that doesn't begin until a taxpayer has filed a tax return. If the IRS prepares a substitute for return it doesn't count as a filed return. The IRS needs to collect taxes after the statute clock has started. If it doesn't collect within the ten-year period then that tax is no longer collectible.
We conduct a comprehensive review of your case to ascertain if it's able to benefit from the statute of limitations. In the event that it does, the IRS is obligated to release any tax liability due against you.
Currently Non-Collectible Status
If the IRS has received evidence that shows the taxpayer isn't in a position to pay the tax debt owed, they agree to stop attempts to collect back taxes. The IRS will consider individual circumstances before it decides to grant the status and stop collection actions.
Do keep in mind that the currently not collectible status isn't permanent. It's more of a temporary hold on your liabilities. To be eligible, you're required to prove that the tax payment is going to cause significant financial hardship.
The commission is going to periodically review the financial situation until you're in a position to make the repayment. Brotman Law has helped many clients obtain this status so that they remain protected from penalties and fines.
Penalty Abatement
If you've not paid the taxes due, the IRS will likely have assessed penalties and fines in a tax audit. They're not permanent. You can take advantage of the penalty abatement program to get those penalties removed as long as you're able to provide solid reasons for missing the payments.
The attorneys at Brotman Law are experts in the IRS penalty abatement process, helping clients reduce or completely eliminate tax penalties.
Innocent Spouse Relief
Married taxpayers often choose to file income tax returns jointly as it provides certain benefits but the liabilities that it creates for both taxpayers is a disadvantage. Both taxpayers are jointly and severally liable for the tax return and thus in case of a divorce, would be on the hook for interests and penalties.
The commission will hold both parties responsible even if one spouse earned all the income but claimed improper deductions and credits. Innocent spouse relief can discharge that liability for you but obtaining it from the Internal Revenue Service is easier said than done. The tax attorneys at Brotman Law can help you obtain the status of an innocent spouse.
IRS Tax Appeal
Any consequence of an IRS assessment isn't set in stone. If you've received a decision that you feel is unfair, you can disagree with the IRS through the appeals process. However, it requires utmost diligence and effective advocacy to get the IRS to change its mind.
Brotman Law’s areas of expertise in tax relief services include IRS tax appeals. We outline potential solutions for our clients, put together a strong case and present it to the IRS so that our clients can get a tax settlement they’re happy with.
It's never a good feeling when a letter from the Internal Revenue Service shows up on your doorstep. The IRS has the full weight of the US government behind it so trying to go up against it on your own isn't recommended. Instead, seek IRS tax resolution services from professionals.
They can ensure that you're dealt with fairly, that your rights are respected, and that an equitable and favorable solution can be reached for any tax problems that you may have. Read on to find out how Brotman Law can help you solve your tax problems.