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Hire a Tax Debt Lawyer To Handle Back Taxes

July 4th

When dealing with the IRS and back taxes, things can get messy without the help of a professional.  While it may be possible to do it alone, handling a professional tax debt lawyer can streamline the experience, eliminate the hassle, and maximize the payment plan the IRS allows you on your back taxes!

Back Taxes: The “Need to Know”

If you know that you owe back taxes, but the IRS hasn’t found out, it’s a good idea to go ahead and find a tax debt lawyer to help you work things out.  The truth is, the IRS will discover that you owe back taxes sooner or later.  When you take the initiative to set the record straight, it will help you out in the long run.

There are several programs available to you that your tax debt lawyer can clue you in on.  They include: installment plans, the offer-in-compromise program, and check withholding.  Let’s take a brief look at these three methods for getting your back taxes paid and up to date.

With the Offer-in-Compromise program, you are allowed to settle your tax debt by paying less than what you owe.  The forms that you have to fill out to determine the amount can be quite complicated.  It’s completely doable, but prepare yourself for digging through (and reporting) all of the details of your financial situation.

An installment program is an easier way to take care of back taxes.  With an installment program, you work with the IRS to figure out a payment plan that works with your situation.  You may even qualify for reduced interest rates.

Check withholding is by far the most convenient way to settle back taxes.  Your employer simply withholds a certain amount from your paycheck until the debt is settled.


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