Tax Attorney Houston Free Consultation – Do you have IRS taxes on your tax returns? Has the IRS threatened to garnish your wages (yes, they can even do this in Texas) or foreclose on your home? The IRS can be aggressive in collecting delinquent taxes, and the longer you wait, the higher the amount will be when penalties and interest are added.
Anyone who owes IRS taxes may need help settling their IRS tax debt. IRS taxes don’t make you a bad person. Maybe you had an unexpected one-time event that created a tax liability, or maybe you need to rethink how you’re going to handle your taxes in the future. Real estate agents, truck drivers, doctors, construction workers, and other independent contractors are paid on the 1099 schedule. If you make a living as an independent contractor, you may need advice that will not only resolve your IRS tax debt, but help you avoid being in that situation again in the future.
Tax Attorney Houston Free Consultation
Why call a faceless out-of-state company that has a holistic view? Instead of talking to a salesperson, contact a Houston tax attorney at Dove Law Firm, PLLC and meet with a Texas licensed attorney who will take a personal approach to resolving your tax debt. A “negotiated offer” is not always a reasonable or optimal option. A Houston tax attorney will tell you what options you may have after examining the facts of your situation. Contact a Houston tax attorney at Dove Law Firm, PLLC who will analyze your situation and develop a customized plan to resolve your IRS tax debt situation.
Can A Tax Lawyer Help With Irs Debt?
If you owe IRS taxes on your personal or business tax return (including 941 payment taxes), contact us. We can help! Don’t avoid your taxes, contact a Houston tax attorney today for tax relief advice.
We begin by reviewing the facts of your case and analyzing the taxes you owe to create your customized plan to achieve tax resolution. There is no one-size-fits-all solution because everyone’s reality is different. How much you owe the IRS in unpaid taxes, how many years you owe the IRS, your income and expenses, and your assets are just some of the things you need to know. about you to analyze your situation and develop a plan of action. customized plan to help you manage your IRS tax liability and receive tax benefits.
Based on what we have learned about you, we will discuss the options you may need to pay or settle your IRS tax debt, and discuss the pros and cons of each option.
The IRS has a specific time limit for assessing or collecting a tax debt. After this time, the IRS will no longer be able to take tax collection actions. A Houston tax attorney can analyze your tax information to determine if any of your tax years are at or near the statute of limitations. Generally, the IRS has 10 years from the date of the tax assessment to collect back taxes (there are some cases that may extend the 10-year period).
Joe Holbrook, Cpa
Dealing with the IRS can be stressful and difficult. Whether you receive an annoying “CP notice” or the IRS has placed a tax lien on your property, an experienced attorney can navigate the complexities of IRS rules and regulations on your behalf to resolve and reduce your stress.
The longer you wait to hire a tax attorney, the more aggressive the IRS can be in its tax collection efforts.
Only after consulting with a tax attorney can he or she advise you of your options for resolving your IRS tax debt.
It’s a very formal process covered by IRS rules, and it’s not as simple as calling the IRS and saying, “Let’s make a deal.” A Houston tax attorney will analyze your IRS tax debt situation to determine if it makes sense to prepare an Offer in Compromise for your tax debt. An OIC is an agreement where the IRS accepts an amount less than what you owe as compensation for your back taxes.
Austin Small Business Attorney
The IRS requires that you provide a non-refundable payment of 20% of the total tender amount with your application. OIC should be submitted only after careful calculation and consideration.
The two main reasons the IRS will approve an OIC are that there is doubt about collection (you don’t have enough income or assets to pay the entire tax liability) or that collection would create the full amount of the financial hardship tax, is unfair, or would be unfair. The IRS even has an online tool that can help you determine if you qualify for an OIC to pay off your tax debt. A mathematical calculation must be done that includes your net worth and your net monthly income.
There is an IRS filing fee that must be paid, along with several forms that must be filled out. These forms include complete information about your income, expenses, and assets. The IRS may request pay stubs, bank statements, and other documents. Once you have gathered your information, a Houston tax attorney will perform the calculations necessary to determine if OIC is eligible to pay your tax debt.
If the IRS rejects your OIC, you have now given the IRS all the information they need to know how to collect your debt, such as who your current employer is, where your bank accounts are, and what assets you have. This is why you should have a Houston tax attorney examine your situation and advise you on your options first, rather than just filing an OIC as a one-time procedure. One size fits all.
Estate Attorneys Near Me Free Consultation Archives
The IRS has a fairly mechanistic formula for determining the amount you must offer. A Houston tax attorney can help you figure out what that number means to you.
The IRS often accepts payment of tax debt in full over time. A long-term payment plan is called an “Annuity Agreement” by the IRS. The more you owe the IRS, the more you need to tell the IRS before they will consider agreeing to a long-term payment plan. Unlike a negotiated offer, a payment plan will pay your taxes in full. This can be a good option if an offer in compromise doesn’t suit you.
Although the table below is an oversimplification of the process, these are the dollar thresholds that the IRS uses (based on your taxes).
When you’re in bad financial shape, the IRS may consider your debt uncollectible (sometimes called a “Code 53” because of the internal computer code the IRS uses). If collection from you means you will not be able to support yourself, pay for medical care, hold down a job, etc., the IRS may consider the debt uncollectible.
Houston Bankruptcy Law Firm
The downside is that it’s not permanent and interest and penalties keep piling up. The IRS may evaluate your situation from time to time and may remove you from hopeless status in the future. This is a band-aid and should only be used if the situation is appropriate.
Some IRS tax debts can be discharged (discharged) in bankruptcy. Or, your IRS tax debt may not be available now, but could be paid in the future. Part of your individual plan will include an analysis of the consequences of bankruptcy on the taxes owed, both now and in the future.
Although we will develop a customized plan to resolve your tax debt, there are some aspects of dealing with the IRS that we do not handle. Do not care! If you do not have a good CPA or tax professional, we are happy to refer you to a local CPA in Houston.
We do not prepare unregistered tax returns. We save this work for your CPA or tax professional. While we are very familiar with the IRS collection process and the relationship between IRS tax debt and bankruptcy, we prefer to have your tax returns prepared by professionals who know things like deductions and capital gains.
Divorce Attorney Houston
We do not file IRS audits or appeals. We generally believe that the person or company best placed to dispute the amount the IRS says you owe is the person or company that filed your taxes If you feel the person or company has not done their due diligence or done the job, we are happy to refer you to a CPA or tax specialist in Houston to represent you during an audit or appeal.
We do not defend criminal IRS audits. If you believe the IRS is investigating you for possible or actual criminal charges, we encourage you to immediately seek the help of an attorney and we will be happy to refer you to one. Taxes are not that simple. Our tax laws are complex. Tax reporting is complicated. The IRS bureaucracy is complex.
A
Free consultation attorney houston, tax attorney free consultation, maryland tax attorney free consultation, california tax attorney free consultation, local tax attorney free consultation, tax attorney nj free consultation, houston tax attorney free consultation, employment attorney houston free consultation, divorce attorney houston free consultation, irs tax attorney free consultation, arizona tax attorney free consultation, houston immigration attorney free consultation