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Falls Village IRS Tax Settlement

Getting in trouble with the Internal Revenue Service (IRS) because of taxes can be challenging, especially as the agency uses all the legal avenues available to collect late or missing taxes. If a taxpayer is unable to reach an agreement with the IRS for a more lenient or manageable payment scheme or request for tax debt forgiveness, the IRS can seize their property as tax payment and can even sue the taxpayer in court for violating tax law.

tax settlement and tax levy

Before your tax situation leads to huge penalties and criminal investigation, you should hire the services of an established Falls Village IRS tax settlement legal team as soon as possible. At Defense Tax Partners, we are always ready to assist both individual and corporate taxpayers to reach a settlement with the IRS or the Connecticut Department of Revenue for tax debt and other tax issues. We can handle federal or state cases of any difficulty and assist taxpayers in understanding tax law and their finances better to prevent other issues from occurring after your current tax issue is resolved.

When you reach out to us, we will examine your tax debt, financial records, and financial status completely to determine the best tax settlement option for your case. We will defend your interests during the negotiations and increase your chances of getting the best result to resolve your tax problems with the IRS.

Call Defense Tax Partners at (860) 362-2738 for your Free Consultation with a Falls Village IRS Tax Settlement lawyer!

Settling Tax Debts

irs attorneyTax debt can be crippling if not dealt with immediately, especially once the fees, fines, and penalties are added to the actual tax debt. Our Falls Village IRS tax settlement legal team can assist you in getting these tax debts in control by helping you get into one of the following tax debt relief programs offered by the IRS or the state revenue department:

“Currently Not Collectible” Status

Taxpayers only making enough money for their daily expenses and have no properties that can be levied as tax payment can apply for the “currently not collectible” status. Under this status, the IRS will not collect your taxes for a set period of time until you are ready to pay your tax debt. However, you will still face penalties even if the tax collection is postponed, and the IRS will look into your financial situation regularly to see if you will be able to pay your tax debt already or not.

Filing for Bankruptcy

Bankruptcy is the most popular option taken by businesses to settle their tax debt even though it can be a black mark on their financial records. Chapter 7 bankruptcy can assist taxpayers to eliminate a portion of the debt or the entire debt. Meanwhile, Chapter 13 bankruptcy can open negotiations with the IRS to request a new repayment scheme for your tax debt and a reduced penalty that will be added to the monthly payments.

Innocent Spouse Claim

If you are filing your taxes jointly with your spouse or had previously filed taxes with your ex-spouse and they have committed tax violations without your knowledge, you can file for an innocent spouse claim. In this claim, you must prove to the IRS that you have nothing to do with your spouse or ex-spouse’s tax activities or the errors done in your filings. If approved, you will not be held accountable or investigated by the IRS for your spouse or ex-spouse’s tax violations.

Aside from innocent spouse claims, we can help you check other similar relief programs for married people, like the separation of liability relief and the equitable tax relief. Our Falls Village IRS tax settlement team can handle the negotiations with the IRS and prove why your claim should be considered.

Installment Agreement (with Partial Payment Plans)

For taxpayers who can pay their tax debt in trickles, we can negotiate for an installment agreement with the IRS. Under this option, you will be asked to send monthly payments to slowly pay off your tax debt in a span of one to six years, depending on the amount you owe. The monthly payments will already have the penalties and fees attached to them, so the payments are more bearable than before.

If you want to take this option, we can negotiate for lower penalties and fees and agree on a monthly payment fee that you can manage, given your financial situation.

“Offer in Compromise” Program

If you do not have any means to pay your debt and will not have any other means to pay it in the future, you can opt for the IRS’ “Offer in Compromise” program. Under this program, you can appeal for a majority of your tax debt to be forgiven, and you will pay a fixed amount as a “compromise.” The IRS will look into your financial situation to see if you qualify for this program, and once they do, they may ask you to pay at least 20% of your tax liability, and they will forgive your other tax debt.

At Defense Tax Partners, we can help you negotiate with the IRS so that they can consider your case for this program and give you a reasonable compromise amount.

Statute of Limitations

When the IRS sends you a notice that they will collect your taxes, they only have ten years to pursue you for its collection. After ten years, they are no longer allowed under the law to pursue you for your unpaid tax liabilities. But, it is important to take note that there are certain situations where the statute of limitations is not applicable. Defense Tax Partners can assess your situation to see if the statute of limitations is applicable or not.

Call Defense Tax Partners at (860) 362-2738 for your Free Consultation with a Falls Village IRS Tax Settlement lawyer!

How Our IRS Tax Settlement Lawyers can Help You

Whether you like to settle your late taxes or resolve a tax charge, Defense Tax Partners has the best legal team for the job. We provide quality and personalized legal services to suit the client’s situation and defend their interests with zeal and confidence.

Tax Attorneys

Our team can deal with tax settlement cases at both federal and state-level and find the right solutions for both parties to agree on. We will fight for your interests and help you get your taxes settled so you can enjoy a stress-free financial life after your current issues are resolved.

You can also trust our team to help you out with the following tax issues:

  • Tax Resolution
  • Audit Representation
  • Tax Preparation
  • Tax Lien Removal
  • Penalty Abatement
  • Bank Levy Removal
  • Passport Reinstatement
  • Wage Garnishment Removal

Our Falls Village IRS tax settlement legal team can handle any tax settlement case, no matter how complex the case, how large the debt involved is, and what tax debt relief program is suited for your situation. Rest assured that you will be guided throughout the service to better understand your tax situation and how it can be resolved through the right legal solutions.

Let’s Talk – Compassionate Legal Advice

Defense Tax Partners logo

Do you want to get a better payment plan for your taxes? Need to find a way to reduce your tax debt? Whichever situation you find yourself in, Defense Tax Partners can assist you in reaching a compromise with the IRS to settle your tax debt in a plan that works for both parties. We guarantee that you will get better odds in your tax settlement negotiations and bring you a step closer to freeing your finances from tax debt!

Call Defense Tax Partners at (860) 362-2738 for your Free Consultation with a Falls Village IRS Tax Settlement lawyer!