IRS Back Tax Relief
A tax attorney for San Antonio can help you get the IRS off of your back for good with back tax relief.
There are several different ways to get IRS back tax relief. The most popular is the Offer in Compromise.
Check out the four steps of a successful IRS Offer in Compromise below to understand the process.
(1) Current & Compliant
The first step your tax attorney for San Antonio, Texas will take with an IRS Offer in Compromise is making sure that you are current with all of your returns and present tax obligations. Without this important step, the IRS will all but certainly reject your Offer. We go the extra mile and pull your IRS transcripts and make sure that you are 100% compliant to submit and Offer.
(2) Financial Analysis
The next step J. M. Sells Law will take is an in-depth analysis of your finances, including your bank statements. I know how the IRS will evaluate an Offer in Compromise. I go through the same steps to figure out exactly how much you should Offer the IRS and to make sure there are no skeletons in the closet we should be aware of. This step typically takes the most time.
(3) IRS Review
It's now out of our hands and into the IRS's hands. But we still stay involved and work with the IRS. Most of the time, the IRS will have questions or need additional information. We work with them to move the Offer along. If we disagree with the IRS, don't worry, we'll file an appeal. Appeals are included with our Offer in Compromise engagements, so we've got you covered.
(4) Accepted Offer
The moment you have been waiting for! Typically, it is about 12-18 months from start to finish, but the IRS accepts the Offer, you satisfy the Offer, and the back tax is completely wiped out. This is the fresh start that we have all been waiting for! Remember, once an Offer is accepted, you have to stay current on your taxes for the next five years or the Offer defaults.
Tell Me More about IRS back tax relief.
If there is one thing I do a lot of as a tax attorney for San Antonio, Texas, it is submitting IRS tax relief.
As a tax attorney for San Antonio, I tell my clients that there are basically three ways to get IRS tax debt relief.
(1) Offer in Compromise (your tax attorney for San Antonio, TX does a lot of these)
The first option for IRS tax debt relief is an Offer in Compromise (this is also called the Fresh Start program). This is the classic tax settlement, where you settle your IRS back taxes for a fraction of what you owe. This is the longest and most complicated process to resolve your back taxes.
An IRS Offer in Compromise is determined by your income and assets. Typically, if you have lower income and lower assets, you would want to do an IRS Offer in Compromise. You certainly get the most bang for your buck. Our IRS tax attorney always evaluates clients for this IRS tax debt relief option.
(2) Installment Agreements
Not as exciting as an OIC, but these are typically super fast to set up. If you are mid to high income, or, you have higher assets, an installment agreement is likely for you.
They typically set up within 30-60 days and the payment can come out of your checking account automatically with a Direct Debit installment agreement. A tax attorney for San Antonio can also work with the IRS to prevent a tax lien from being filed as a condition of the installment agreement.
Many times, my tax audit clients end up owing. Even after a successful tax audit (we minimize what they owe). An installment agreement is a great short-term solution for them.
(1) Financial Hardship
This IRS tax debt relief was meant to be a temporary fix, but many clients find this to be a good solution. If you are under an IRS financial hardship, the IRS will agree to close your collection case while you are under that hardship.
This is a great IRS tax debt relief to get the IRS off your back, even if temporary.
We know San Antonio. Did you know that it is the 7th most populous city in the United States? It is also one of the fastest growing ones too!
Not only does San Antonio have a strong oil and gas economy, but also a hefty military, health care, and professional services economy. It is also a tourist-magnet with its rich culture and vibrant night life.
Get an IRS Fresh Start with an IRS Tax Attorney Today!
If you are ready to have a Tax Attorney for San Antonio, TX look at your case to see if you qualify for IRS tax debt relief, click here to get the process started today. Or call us directly for a free consultation at 330-331-7611
