What Can an IRS Lawyer Do for You?
When you need assistance from a Loveland IRS Lawyer, you have several options. You can go through the proper channels and make an appointment with someone in the Tax Office or you can get help on your own. It depends on your circumstances, but generally speaking, the IRS will not help a taxpayer prepare a payment plan to resolve their tax situation. The IRS will only work with taxpayers to resolve their back taxes.
There are several common methods for preparing a payment plan with the IRS to resolve your tax liability. First, if you do not have enough money to pay all back taxes at once, you might be advised to make a lump sum payment. This payment could be done in installments over a certain period of time. Your attorney may also recommend a monthly payment plan for you. If your attorney recommends a monthly payment plan, you will probably have to make that payment every month. You should keep in mind that both of these payment plans can be very time consuming and that you will not be able to request any extensions if you go this route.
If you cannot afford a lump sum payment or monthly installment plan, your second option is to request an extension. An extension can be used for situations where you simply cannot pay the entire back taxes in a lump sum or over a long period of time. To qualify for an extension, you must meet certain requirements. Your tax lawyer will be able to tell you if you qualify.
If you do not qualify for an extension, the third option to resolve your back taxes is to go in circles. In other words, keep trying to deal with the IRS by yourself and ignore their calls and letters. Not only will this be very time consuming, it can be frustrating if you are doing this for the first time. Even if you are experienced with dealing with the IRS, you may want to seek the help of a tax attorney may make this process much easier to handle.
A tax lawyer can represent you in negotiations with the IRS. He or she will not let the government off the hook. A good tax lawyer in Colorado will have extensive knowledge of how the IRS works and will know exactly what steps to take when you are unable to pay your back taxes. In the end, a good tax lawyer will get you out of the tax liability and back on track financially. There are times when the IRS will simply forget about their initial calls and letters, but the tax lawyer knows when to call and when not to.
Being faced with the stress of owing back taxes can be overwhelming. There may be a lot of reasons why you fell behind, but it is important that you take care of the situation before it gets worse. When you are behind on your tax liability, you may face further consequences. The best thing you can do is talk to someone who can help you resolve your tax issues.