Virginia Tax Resolution Lawyer

Although the Internal Revenue Services (IRS) may be slow to react at times, the agency will eventually take action, leaving taxpayers with little to no time to react.

The IRS generally has one goal in mind, and that is to collect as much taxes owed to them in any way possible. They will use any and every method to achieve this goal such as wage garnishment, tax levies, and seizures of assets.

Back taxes, unfiled returns, and other tax issues are an expected and common consequence of these difficult economic times. Sooner or later, all taxpayers will be forced to deal with these powerful collection agencies in one way or another, and sometimes at the cost of nearly everything they own.

With the complexities of the federal law and the inevitable feeling of powerlessness and anxiety, it may seem like there is no resolution in sight. However, by contacting an experienced Virginia tax resolution lawyer, taxpayers can take back control from the IRS in the form of a powerful legal advocate that will fight to negotiate a resolution for their tax problems. Call a seasoned attorney today to schedule a consultation.

Settling Tax Debt with an Offer in Compromise

It may be possible to wipe one’s tax debt slate clean and at a significant discount. An Offer in Compromise (OIC), upon qualification, allows the taxpayer to pay a lower amount owed on a tax bill and essentially call it even with the IRS.

Now, it is crucial to understand that there is no legal right to have a tax bill reduced by the IRS. Ultimately, it is a matter of government discretion. In most cases, the IRS must “at least” consider properly submitted OICs.

Submitting an offer to the IRS is a complex and formal process, starting with the IRS Form 656, Offer in Compromise. As part of the OIC, the taxpayer must also attach detailed financial information to the IRS. Taxpayers must pay close attention to filling in this form correctly, as the IRS scrutinizes any disclosures they find.

Fighting Tax Debt Through Bankruptcy in Virginia

Most tax debts will not be eliminated by filing for bankruptcy. While it may sound like an easy way out, taxpayers will ultimately have to repay their debt. However, filing for Chapter 7 bankruptcy can assist in the discharging (wiping out) of tax debts, but only if the taxpayer qualifies for discharge.

In order to qualify for Chapter 7 bankruptcy, the following conditions must be true:

  • A tax return has been filed
  • The taxpayer’s debt is three years old
  • The taxes owed are income taxes
  • The taxpayer did not commit fraud or evasion

Upon qualification, the IRS will be unable to pursue the taxpayer’s bank account or wages. However, if the IRS logged a tax lien on the individual’s property prior to the bankruptcy filing, the lien will stay in effect. Speak with a Virginia tax resolution lawyer to learn more about filing for bankruptcy.

How a Virginia Tax Resolution Attorney Could Help

Due to federal laws being highly complex, resolving tax matters can be an extremely difficult task, especially on one’s own. These debilitating tax problems only continue to get worse over time and the ever-increasing feelings of stress and hopelessness can compound, with no solution in sight.

Speaking with a seasoned Virginia tax resolution lawyer allows taxpayers to breathe easier knowing a skilled legal advocate is fighting to resolve their tax problems so they can move forward with their lives. To find out more, call today.