Q
Will I qualify for a settlement of my IRS tax debt?
AIt depends. The IRS has recently offered more flexible terms to its Offer in Compromise (OIC) program.  This flexibility was enacted to help the overwhelming amount of financially distressed taxpayers to resolve their tax problems, with more efficiency as well.

An Offer In Compromise is an agreement between the IRS and a taxpayer allowing a settlement of the tax debt for less than the full amount owed. To qualify, the IRS looks to a taxpayer’s income and assets to make a determination of the taxpayer’s “reasonable collection potential.”

Generally, if you have:

  • no disposable income at the end of the month after “necessary” expense are paid
  • no equity in assets; and
  • no ability to pay off your debt in lump sum or with a payment plan

then you may qualify.  However, preparing a successful Offer in Compromise can be tricky.  Contact a tax attorney to guide you through the process to ensure the best outcome

Q
Can you release my wage garnishment?
AYes.  There are actually many options to take care of an IRS tax debt.  The best thing you can do is take advantage of these options and avoid a wage garnishment. If it is unavoidable, a wage garnishment may be released by:

  • paying your tax debt in full;
  • applying for an offer in compromise to settle your tax debt;
  • negotiating a payment plan or installment agreement;
  • qualifying for a non collectible status due to financial hardship or
  • filing a tax levy appeal

Successfully releasing a wage garnishment can be difficult.  It is best to turn to a tax attorney with wage garnishment experience to obtain the best result.

Q
The IRS is planning to take everything out of my bank account.  Can you stop them? (Note:  changed question a little)
AYes.  After you have received a “Final Notice of Intent to Levy”. The IRS will contact your bank requiring them to freeze your account. Once frozen, the IRS must wait 21 days until they can seize your bank account funds.

In order to stop an IRS bank account levy, action must be taken during the 30 days after the “Final Notice of Intent to Levy” is sent or in those 21 days since the IRS has frozen your account.

You can resolve either situation by:

  • paying your tax debt in full;
  • applying for an offer in compromise to settle your tax debt;
  • negotiating a payment plan or installment agreement;
  • qualifying for a non collectible status due to financial hardship or
  • filing a tax levy appeal

It is highly suggested to hire a tax attorney to resolve and avoid an IRS bank levy.

Q
How much do you charge? Can I pay in payments??
AWe try to work with each individual client based upon the complexity of each individual case.  Our attorney fees are reasonable and payment plans are always available upon request.
TAX ATTORNEY LOS ANGELES FOR IRS TAX RELIEF, IRS SETTLEMENT, IRS INCOME TAX HELP AND IRS TAX PROBLEMS
 
51