Looking For A Durham Tax Attorney?
Are you a resident of Durham that needs assistance with IRS debt relief? Have you tried searching for a local tax attorney in Durham? In any tax debt resolution, there are multiple factors that need to be decided on. Personal income, expenses and the status of an individual’s debt can determine their eligibility for specific settlement options. A professional tax debt company can use a thorough financial investigation to find an Installment Agreement, Offer-In-Compromise or other IRS resolution method that works for their client. These IRS Tax Practitioners provide high quality service as CPAs, lawyers and Enrolled Agents.
North Carolina residents experiencing tax problems such as IRS debt should find a tax professional to help find a solution. It is important to act quickly when dealing with the IRS to avoid incurring additional debt. A lot of debt is owed due to lack of payment of taxes, but the IRS also charges fees and interest when deadlines for filing or payment are missed. If any of these cases apply to you, call a tax professional to get started on settlement. When deciding on a path to tax debt relief, it’s important to provide as much information as possible to your tax professional so they can provide fast results that may involve more resources than Durham tax attorneys would offer. Ultimately, our tax debt specialists leave all of the major decisions to you.
Debt resolution options are available for those with balances that cannot be paid off in a single lump sum payment. If that large payment option is not available to the taxpayer, tax debt experts suggest looking into Installment Agreements. Installment Agreements (IA’s) are programs to pay the balance in several small payments over a 60-month period. This option frees up money for other expenses in the taxpayer’s life, whether long term (such as mortgages) or short term (such as cars or student loans). To determine the best program, a tax specialist can analyze a taxpayer’s financial situation. With any tax problems, providing all the necessary details to your tax expert is very important.
Attorneys can be useful in an IRS debt case, however some problems are better solved by tax professionals. Determining whether you need a Durham tax lawyer to represent your case can be a complicated process. If you’re looking for information about legal rights, only an attorney can offer that information. Our tax debt specialists can explain whether you need to see an attorney. If not, tax professionals specializing in IRS Audits, income tax preparation and other areas of taxes can provide you with a variety of tax related services at rates that may be more within your budget than those of local Durham tax attorneys.
Some taxpayers experience instances in which they cannot pay off the full balance. In that case, tax settlement experts recommend applying for an Offer-In-Compromise. This type of resolution provides relief by settling on a lower total balance that is paid in a short term schedule. The monthly payments are determined by tax professionals to be the largest amount the taxpayer can afford. This program is not a very common option, as it often involves steep discounts in the amount repaid to the IRS. When setting up any resolution plan, our tax professionals work to provide more resources than other tax agencies including a tax attorney in Durham.
If a taxpayer is determined by the IRS to be in financial hardship, they may not be in the position to make any payments on their debt. If no programs are applied, debt collection efforts can continue. However, the taxpayer can qualify for Currently-Non-Collectible status and all collection efforts temporarily cease. This status is awarded to those who have income that is less than their monthly expenses. Taxpayers can avoid making any payments with this consideration for as long as their income doesn’t change and they remain compliant to the IRS. Staying in touch with your tax professional can help ensure compliance.
Our company is not based in Durham, but we have helped thousands of people to resolve their tax debts with the IRS and prevent future problems through education on difficult tax issues. Only a tax attorney can provide legal counsel on these matters. While we are not a law firm or lawyers in Durham, we have a trained staff of tax debt specialists, CPAs and other experts. These professionals can explain your options in tax debt relief, negotiate with the IRS and settle your balance under the same IRS guidelines as a Durham tax attorney.
Tax debt is a problem that can grow if it is not settled. If you owe money to the IRS, it is important to reach out to tax professionals. They can help with settling with the IRS as well as other services like filing taxes or penalty abatement. If you have any questions, call a tax specialist today for a free consultation.