San Antonio Unpaid Taxes
If you are one of the many taxpayers with back tax debt, we understand your fear. And, you are not alone. The IRS knows there are millions of dollars in unpaid back taxes, interest and penalties–and they are looking to collect that debt.
Many taxpayers fall behind in paying their taxes for any of a variety of reasons – major health issues, divorce, job loss or loss of income. Small business owners may get behind in payroll taxes, which can quickly escalate into a large tax debt, including the interest and penalties the IRS assesses. The amount of tax owed can quickly add up to an amount you fear you will never be able to pay, so you quit filing your returns and hope the IRS does not notice.
Maybe you’re worried that coming forward will get you into more trouble. Maybe you think if you come forward, you will find out the amount you owe will end up being even larger than you imagined. Or you think if you keep quiet, the IRS might overlook you. Wrong. You need to hire a tax attorney. As San Antonio tax attorneys, we deal with this every day. We can help.
Settling Your Unpaid Tax Debt
There are several means available to settle the amount of back tax debt you owe the IRS.
Work with a San Antonio tax attorney you can trust: We have decades of knowledge necessary to get you a resolution to tax issues you can live with.
Offer in Compromise: The IRS realizes that life happens. Sometimes you end up with an enormous tax debt you cannot afford to pay. The IRS has an Offer in Compromise program, which is a win-win for both the IRS and the taxpayer. With this program, the IRS collects on the tax debt and gets the taxpayer back into compliance–filing their tax returns and paying their taxes. The taxpayer settles for a reduced amount, often a portion of the amount they owed the IRS. The process is complicated and the taxpayer must meet the IRS’ requirements and be able to show an inability to pay their full tax liability.
Bankruptcy: Some older tax debts can be discharged in bankruptcy. By older, this generally means tax debts that became due and are assessed two years prior to the time the bankruptcy petition is filed. This can be a great way to get rid of tax debts while being able to keep certain exempt assets, such as houses and retirement accounts. This option can be even better if you can recoup tax refunds from the IRS and whether pre-petition estimated payments can be used to pay off pre-petition taxes as part of the process.
Currently Not Collectible: For those taxpayers on a fixed, limited income or who are currently experiencing financial hardship, you may qualify to be placed in Currently Not Collectible status. If the IRS determines you are Currently Not Collectible, you will be placed in a no-collection status and the IRS will not try to collect from you. This status lasts for a period of time, at which the IRS will reevaluate your ability to pay your tax debt. The amount of time varies, but can last until the statute of limitations expires and the IRS can no longer collect on the tax debt.
Penalty Abatement: If you can show an inability to pay, the IRS may abate some of the penalties they have assessed against you and allow you to pay the tax and interest owed. (Interest generally cannot be abated absent an IRS delay).
Installment Payment Agreements: If you do not qualify for an Offer in Compromise or Currently Not Collectible status, but you still cannot pay your entire tax liability in one payment, the IRS offers the Installment Agreement option. An Installment payment plan is negotiated with the IRS to make repaying your tax debt more manageable. Some taxpayers may qualify for a Partial Payment Installment Agreement where smaller payments are made which total less than the original liability owed. Click here to read more about IRS payment agreements.
Pay Your Liability in Full: If you have the ability to fully pay your tax liability, the IRS expects you to pay it. Many taxpayers are surprised to find they may have to take out a home equity loan, borrow from their retirement or savings accounts or sell assets to pay their debt. If you have assets, the IRS will look at these assets to determine your ability to pay your tax debt, even if you do not currently have the cash on hand to pay.
Negotiating with the IRS to settle your back tax debt can be intimidating. The IRS administrative process is astounding in its complexity.
As San Antonio tax attorneys, we help our clients navigate this complexity. We help negotiate a resolution clients can afford to pay. Our tax attorneys in San Antonio analyze tax situations and provide clients with the best recommendations to settle back tax debts.
Tax Attorney Helping With IRS Collections
A worst-case scenario for any taxpayer is receiving correspondence from the IRS that it has placed a lien on the property, or is executing a levy to actually seize property. This can leave anyone confused, scared, and unsure of what their options are.
Fortunately, the law does give you the option to challenge a lien or levy imposed by the IRS, and our firm is here to help you every step along the way. We have represented individual taxpayers and businesses in San Antonio who have faced the threat of losing their property and financial livelihood. We are ready to fight on your behalf and do everything possible to keep the IRS from taking what’s yours.
We’ll Take The Lead And Fight For You
As your legal counsel, we will evaluate your case to determine whether any errors resulted in an incorrect tax liability. We can also determine whether you would benefit from any repayment relief, which can include:
- Offers in compromise
- Installment agreements
There are many other advantages to having an experienced tax attorney represent you before the IRS. You have the option of telling the IRS to deal solely with your lawyer, which means that we can take the lead and handle all the legal matters associated with your case, further reducing the stress and burden on your life. We make a commitment to keeping our clients informed about the status of their cases, so whenever you do have questions, we are ready to answer them.
Another advantage of choosing our firm: We will raise every available issue in your case during your hearing, and in the event, we have to appeal a negative decision to the Tax Court, we will be able to raise those issues to help you get tax relief.
Learn More: Contact Us Now
You don’t have to live in fear that the IRS will take everything. Call our office to arrange a confidential consultation.