Secaucus IRS Tax Settlement
The Internal Revenue Service can get aggressive when it comes to its collection methods. If you have outstanding debts that you’re having a hard time paying back, it’s best to work with a tax attorney right away.
Defense Tax Partners has a team of Secaucus IRS tax settlement experts who can help you manage your tax payments more efficiently. We can represent you before the IRS and do the negotiations on your behalf for a more satisfactory settlement agreement. From preparing all the necessary documents to finding the best method to settle your tax debts, our team guarantees a top-notch legal service you wouldn’t regret paying for.
Remember, you don’t have to deal with the IRS alone. Talk to our tax attorney today and let us guide you on what’s the next best step to make. Rest assured, we will help you clear or reduce your debts in the easiest possible way.
Call Defense Tax Partners at (973) 381-1616 for your Free Consultation with a Secaucus IRS Tax Settlement lawyer!
Settling Tax Debts
If you fail to clear your tax debts with the IRS, you’ll end up facing bigger penalties and interests that you will find even harder to pay. Before all your debts become extra overwhelming, work with our Secaucus IRS tax settlement team and find the most suitable solution to relieve your debts.
Defense Tax Partners knows the ins and outs of the state and federal tax laws. Once we’ve evaluated your case, we can present you with the most appropriate program you can take advantage of. We will do our best to provide you with a manageable payment plan, reduced overall debt, and a longer time to pay your debts back.
Here are some of the ways through which you can settle your tax debts:
“Currently Not Collectible” Status
This option is for taxpayers with no actual means to pay their debts. If your account is put on the “currently not collectible” (CNC) status, the IRS will stop its collection efforts for a certain time period—which is usually based on your Total Positive Income (TPI). The IRS may then request an updated 433-A or 433-F form along with the annual review of your TPI to determine if whether or not your CNC status should be extended for another period.
However, keep in mind that the penalties and interests on your tax debts will continue to accrue even when you get approved for the CNC status.
Filing for Bankruptcy
If there’s no other way for you to pay your tax debts, you can file for bankruptcy and clear all or most of your tax liabilities. Chapter 7 bankruptcy will allow you to see if your income taxes are qualified as dischargeable. If they are, you can clear your tax debts in full. However, if your taxes are not dischargeable, Chapter 13 bankruptcy can be utilized to stop your penalties and interests from accruing.
Innocent Spouse Claim
Although the federal government and most states have injured or innocent spouse programs, the state of Secaucus doesn’t. If you are not responsible for your spouse’s or ex-spouse’s tax debt, you should timely challenge the assessment. You can also request a closing agreement instead.
Installment Agreement (with Partial Payment Plans)
Entering an installment agreement is one of three main ways for tax relief in Secaucus. Depending on the amount of your debt and your current financial capacity, you can set up a payment plan with the IRS, which you should complete with a series of monthly payments of a set amount. For better terms, allow our Secaucus IRS tax settlement experts to negotiate on your behalf.
“Offer in Compromise” Program
This program is offered by the federal government as well as most of the states. Unfortunately, Secaucus doesn’t have an offer in compromise (OIC) program. However, they do have a Closing Agreement that generally has a similar concept to OIC. If the state accepts your closing agreement request, you will only have to pay a reduced amount of your entire debt, including penalties and interests.
Penalty Abatement
Aside from payment plans and closing agreements, penalty abatement is one of the main tax relief options in Secaucus. By requesting a penalty abatement, you are asking the Division to discharge all or part of your accrued tax penalties. You can do this with either a written or verbal request, as well as through submitting an IRS Form 843.
For your request to be approved, you should have legitimate reasons why you failed to pay or file your taxes on time. Our attorneys can help present a narrative backed by legal documents that could increase the likelihood of approval.
Statute of Limitations
In New Jersey, the statute of limitations on tax debts only lasts for up to six years. This means that after the first assessment, the Division only has six years to file a Certificate of Liability with the New Jersey Superior Court for your delinquent tax due. Talk to our tax attorneys to discuss how you can use this to your advantage and get relieved of your tax debts.
How Our IRS Tax Settlement Lawyers Can Help You
Our knowledge and experience both in federal and state tax laws allow us to provide world-class legal services to our clients. Defense Tax Partners has a team of lawyers specializing in IRS tax settlement, guaranteeing a smooth legal procedure of reducing or entirely wiping out your back taxes.
If you work with us, we will make sure that we evaluate your situation carefully. This way, we will know the best way to build a narrative that will most likely compel the IRS to agree to a favorable settlement. We will also handle the document preparation as well as represent you before the court if ever needed.
Even better, we offer other legal services to help address all your taxation issues. These include:
1. Passport Reinstatement
2. Wage Garnishment Removal
3. Tax Lien Removal
4. Tax Preparation
5. Tax Resolution
6. Audit Representation
7. Bank Levy Removal
Dealing with the IRS tends to be complicated and overwhelming. To achieve better results, it’s best to work with professionals. Let Defense Tax Partners take on your case, and rest assured that we will help you regain your financial stability in no time.
Let’s Talk – Compassionate Legal Advice
Are you having a hard time paying back your tax debts? Is the IRS already exercising some aggressive collection methods? You don’t have to sort things out on your own!
At Defense Tax Partners, we have experienced Secaucus IRS tax settlement lawyers who will represent you in IRS meetings and negotiations. We will lead you to the best tax debt relief option possible for your case and guide you every step of the way.
Call Defense Tax Partners at (973) 381-1616 for your Free Consultation with a Secaucus IRS Tax Settlement lawyer!