Tax Lawyers Can Help You with Debt Forgiveness
Our expert tax lawyers at The Law Offices of Jordan F. Wilcox can make IRS debt forgiveness more accessible to our clients. Pursuing debt forgiveness from the IRS can be complicated, so it is extremely important for taxpayers to have legal representation from an experienced tax lawyer. Our tax experts in Utah will fight for your rights as a taxpayer while applying for tax relief programs.
What Are My IRS Debt Forgiveness Options?
The IRS Debt Forgiveness program allows taxpayers to consolidate all of their debts into one monthly payment, making it easier to manage the debt. A professional tax lawyer can help you decide which debt settlement and repayment option is best for your financial situation. There are a few ways to get tax relief with the help of a tax lawyer.
Currently Non-Collectible Status
This status is applied by the IRS if a taxpayer can’t pay back their owed taxes. A currently non-collectible status means that you won’t have to pay your tax debt while in the status, but interest and penalties will still accrue. Our tax lawyers can help you write the financial statement that the IRS requires. This statement is what the IRS uses to determine when they can start collecting taxes from you again.
IRS Installment Agreement
An IRS installment agreement is a payment plan in which the taxpayer can pay back their tax debt over a specified period. Installment payments are a good way for taxpayers who can’t pay their taxes in full or have many years of back taxes to pay off their tax debt. Our professional tax lawyers can help you negotiate a fair payment plan and explain the payment plan’s terms to avoid penalties from the IRS.
Offer in Compromise (OIC)
An offer in compromise is an option for taxpayers to settle their IRS debt for less than what is owed. Our tax experts can help you make an offer in compromise to the IRS if you are likely never going to be able to pay your tax debt or if the full amount of your tax debt will create financial hardship for your family. Our tax lawyers will help set up your payment plan, whether it’s a lump sum, a short-term payment plan, or a deferred payment plan.
Jordan F. Wilcox is Here to Help You With Tax Relief
Setting up your own IRS debt forgiveness plan can be complicated and could lead to rejection from the IRS. Let our tax lawyers at The Law Offices of Jordan F. Wilcox ensure that you meet everything you need for approval in the IRS debt forgiveness program. There are no guarantees when it comes to the IRS, don’t take a chance with your finances! Call us today to learn more about how our tax experts can help you with tax relief in a free tax consultation.