Let’s face it… taxes can be troublesome and, well, taxing. It is not uncommon to have tax problems. As a matter of fact, you’d be surprised at the large percentage of Americans who have tax issues that they are struggling with. Depending on your situation, it may make sense to work with a tax relief attorney. Did you know that “tax relief” is an actual program created by the IRS? This program allows people to settle their debts for a fraction of what is owed. It is not a publicized program, but a good tax attorney knows all about it and how to make it work for the attorneys clients.
You’re probably thinking, how much could I get taken off the total that I owe? It of course depends on many factors that tax attorneys can review… assets, income, length of time that the issue has gone unresolved… are just a few factors. You may also be wondering, could I offer a settlement myself? The answer is yes, but keep in mind that the IRS will scrutinize your documents with a fine tooth comb and most likely will find something missing or something that you did incorrectly. Depending on the size of the debt that you owe, it is often in your best interest to use a tax relief attorney. These attorneys may charge fees depending on how your case is settled and the amounts that the attorney saves you, or they may charge you by the hour — some cases require more work than others. But you may find an attorney who charges a flat fee to work your case. Simply call a few attorneys and ask them how they charge.
Note that your case could take anywhere from six weeks to one year to resolve, depending not only on how good your IRS tax relief attorney is, but also on the caseload of the IRS at that time. Usually, tax attorneys handles only tax cases. They can help with liens, audits, back taxes and really any tax issue. They can also help prevent problems from occurring in the first place. For some small businesses, tax attorneys are as valuable as accountants. If you are in doubt about any transaction or practice that you are implementing, ask a tax attorney about it. If you need specialized assistance, you can find attorneys who are experts in particular tax code areas like income tax.
It’s not advisable to go up against the IRS on your own, but if you do, do your homework and be prepared. Have all your ducks in a row and get ready to be bombarded with all sorts of questions. There are those who avoid using an attorney, but in these cases, their expertise is well worth having despite the seemingly exorbitant fees.