Are you looking for a Greensboro Tax Attorney?
Have you been facing problems from unpaid tax debt? Are you a Greensboro resident? Many people in IRS debt cases look to the internet to find locally based Greensboro tax attorneys. Your best option may not be a local tax lawyer. Are you aware that you don’t have to be represented by a Greensboro tax attorney in dealing with the IRS? If you hire a tax company that has a full staff of IRS Tax Practitioners, which must be a CPA, tax attorney or Enrolled Agent, you will receive quality service from start to finish.
Tax professionals are helping taxpayers in debt to the IRS resolve their debt. Working quickly to resolve tax debt is crucial to avoiding collection efforts from the IRS. There are several options available to taxpayers who have missed paying taxes or are in debt due to fees and interest charged from filing tax returns past the deadline. A tax expert can help a taxpayer determine what the best program for them is and whether they qualify for it. Calling a professional tax company can make the tax debt resolution process easier. Attorneys are important in cases relating to IRS matters, but a tax professional may be able to provide the help you need.
The IRS has several tax resolution programs in place to aid taxpayers that are unable to resolve their debt in a simple lump-sum payment. Offers-In-Compromise, Installment Agreements and Currently-Non-Collectible status are the three main categories of debt resolution options available to taxpayers. To determine eligibility for these programs, taxpayers should call tax professionals. If an individual can afford to pay the full balance over time, Installment Agreements (IA’s) are an excellent option. There are many types of Installment Agreements. Most IA’s require a 60-month agreement in which the individual will pay off the entire balance. Some taxpayers, however, have other bills and financial requirements to cover and cannot afford the full balance while paying those off.
A tax professional will advise that there are resolution programs in which there are reduced payments for all or a portion of the repayment term. This allows taxpayers to have a little breathing room while still getting their accounts current with the IRS. The more complicated the repayment program, the more full financial disclosure is important. Taxpayers should give all relevant financial paperwork and information to their tax professionals to ensure that the case will be handled properly.
Anyone who has contacted a tax lawyer in Greensboro and has determined that a full balance repayment is not an option due to financial hardship could have one of our tax professionals help them determine their eligibility for Offers-In-Compromise or Currently-Non-Collectible (CNC) status. Our recommendations can be made quickly by tax professionals and might be more affordable than those of the Greensboro tax attorneys. The same program offerings are available to our tax professionals as well as a Greensboro tax lawyer.
An Offer-In-Compromise is an agreement made with the IRS to resolve the debt at a reduced amount if the taxpayer pays as much as possible over a short period of time. This then allows the IRS to release the taxpayer’s liability. This is most often offered when a taxpayer will likely never be able to pay off the full balance and has disclosed their full financial situation to show the IRS that the resolution amount is the most they can afford to pay.
If there is so much financial hardship that the individual cannot afford to pay anything, a tax professional may be able to assign Currently-Not-Collectible status to the taxpayer. This will temporarily suspend the IRS’ collection efforts and is available to individuals whose monthly expenses exceed their gross monthly income. Taxpayers can remain in this status as long as they stay compliant to the IRS and their income does not change.
Settling debt with the IRS quickly and staying compliant are very important, and tax professionals are helping taxpayers unsure of what the next step is. It is very important to know what your legal rights are, and only an attorney can provide you with that information. However, not every IRS case requires an attorney. A tax professional or attorney can help you determine if you need that kind of assistance. Our company is not a law firm and we do not employ Greensboro tax attorneys. We do have a talented staff of CPAs, Enrolled Agents and Tax Professionals that can answer your tax questions.
If you are in debt or are experiencing collection efforts from the IRS, tax professional is helping individuals find their repayment options. The worst thing you can do is nothing. Tax collection efforts only cease when the balance has been paid in full or there has been an agreement struck between the taxpayer and the IRS. Call your tax expert today for a free consultation and find out what options are out there for you.