Looking For A Plano Tax Attorney?
Are you a taxpayer from the Plano area? Have you been struggling with getting your income taxes in order? Filing taxes properly is an important responsibility that can often be confusing. Taxpayers frequently go to tax experts like a Plano tax lawyer for assistance, but this option may not be the best plan for finding tax return help. If taxes are not properly handled, the IRS can assign fees and interest to a taxpayer’s account. If this is ignored, or if taxes owed are not paid, it can result in IRS debt.
Tax debt, like any other debt, can go into collection status if not dealt with. The IRS has the power to put holds on accounts and seize property if the debt is ignored. If tax debt has accrued, calling a tax professional can help taxpayers get back on track and out of debt. Local experts may seem like the most logical path to IRS debt relief, but it is important to examine all of your options. Our company does not have headquarters in Plano, but we have secured successful resolutions for thousands of taxpayers across the United States with a variety of tax problems.
Failure to file tax returns or pay taxes (on time or in general) leads to penalties and interest. As soon as a taxpayer is concerned about missing any deadlines, an IRS Tax Practitioner should be hired. This group of tax professionals includes CPAs that are familiar with all of the IRS tax laws. When your case has been analyzed, our tax team will provide you with quick recommendations and may be able to offer lower rates than a Plano tax attorney. Once your options have been presented to you, our IRS tax specialists leave the final decision to you. Missing tax payments or filing deadlines can lead to debt or increase an existing balance owed to the IRS. The IRS charges 5% a month for filing late and ½% a month for paying taxes late. Each of those penalties has a cap of 25%.
Depending on the amount of taxes owed, this can add a significant amount of debt to the taxpayer. Plano taxpayers can receive help with penalty abatement if it is determined that the individual falls under the set terms for abatement, which mostly consist of circumstances out of the taxpayer’s control. With many different resolution programs available from the federal government, our tax professionals use the same IRS regulations and guidelines as a Plano tax attorney.
If a debt has been issued that cannot be paid off in a simple lump sum payment and special consideration needs to be made, a taxpayer should reach out to a trained tax professional. Some tax cases require legal assistance such as advice about personal rights, which can only be given by an attorney. If your tax debt leads you to need this service, our IRS specialists can provide you with resources and recommendations on Plano tax lawyers. If you would benefit from any of our programs, our experts will use the case analysis and suggest a reasonable solution. The resolution that best fits the financial situation can then be acted upon to relieve the debt. Some of the options involve paying small amounts over long periods.
Other possibilities take into account other required monthly payments. Further, the IRS has provisions for those who are completely unable to pay any of their debt at the time. To understand for which program a taxpayer qualifies, a tax debt negotiator will go over the appropriate financial records and information. While you’re preparing your case, it is important to know what your tax professional can do for you. We are not Plano tax attorneys or a law firm, but our enrolled IRS agents, CPAs and tax specialists can help with IRS debt relief, audits, income tax returns and other services
If you’re struggling with tax debt right now, there is no time to waste in resolving your balance with the IRS. Tax professionals are available to answer any questions, whether about the proper forms to file or what kind of program can bring you the debt relief you’re seeking. The important thing to do is to get the right information and act quickly. Call an IRS debt specialist for a free consultation today!