There are many reasons why you may be in the position of owing back taxes and wondering how can tax attorney help settle your taxes. Many times people end up paying a lot more money to the IRS than they would have owed to them had they chosen to pay taxes on time. People often use the excuse that they didn’t make enough money over the course of a year to cover their taxes. This is false. No matter how much money you earn you will have to pay tax debt back to the government at some point. In fact, most Americans do owe back taxes and are still trying to figure out how can tax attorney help settle your taxes.
One of the primary questions asked by someone who wants to find out how can tax attorney help settle their taxes is how do they go about paying them? Some people try to hide their income from the government, but this is illegal. The easiest way to avoid detection is to keep your face hidden. If you do not want to be charged with criminal tax evasion, you can use any legal deductions to lower your tax bill. If you have any extra money after expenses you can send part of it over to the IRS and ask them to deduct it from your taxable income.
It’s important to have a good lawyer to represent you in the court of law if you are ever found guilty of any criminal charges filed against you for not paying your taxes. Even if you get away with no charges being filed against you, the government may still come after you to recoup the money you owe. Any kind of judgments or felony charges you face can prevent you from being able to work in the financial market, getting a job, or obtaining a license to operate a business. It is also possible that you could face jail time for not paying your income tax.
How can Tax Attorney help settle your debts? Attorneys have the skills and knowledge to negotiate with the IRS to find options that will benefit you. You might be able to settle your taxes by simply paying less than you owe. This is called an Offer In Compromise (OIC) and the amount you pay could be substantially less than what you owe.
Another way in which an experienced tax specialist can help settle your tax debts is by preparing the required documentation. Your tax return is the document that needs to have all of your financial information and state filing fees covered. It is not enough just to say you made mistakes on your tax return. An experienced attorney will know how to argue in court to make sure the IRS cannot take money from you without proving a mistake was made. Your attorney might even be able to convince the IRS to allow you to settle the debt for a fraction of what you actually owe.
There are many other ways in which an attorney can help you settle your tax debts. Some of these include: protecting your credit rating from future problems; obtaining a tax refund; settling minor discrepancies; and negotiating a realistic payment schedule for your tax debt. It doesn’t matter what tax problem you’re facing. If you’re willing to ask for help, then an attorney can get you through the process and get you out of the red ink.