Our Tax Attorney Handle Your IRS Problems
Dealing with IRS or state tax collectors can be complicated, confusing, and exhausting. Waiting to act, or making the wrong decisions, can lead to any number of consequences. The IRS could file a lien on your home, garnish your pay check, place a tax levy on your bank account, and demand huge interest and penalties on top of their existing claims. The IRS can force the immediate sale of your home or other properties. Federal tax collectors can levy on your refunds from state, city, or municipal tax payments. State tax collectors can garnish or levy your wages, place a tax levy on your bank account, or place a lien against your property. Regardless of whether the matter is disagreeing with what the tax collectors think you owe or simply being unable to pay, the tax attorney at Farmer & Wright can help.
Farmer & Wright tax attorney will provide broad range assistance to help you through the tax resolution process. Our goal is to negotiate the lowest possible payments with IRS and the Kentucky Revenue Cabinet. Throughout the process, we do our part to explain the tax resolution environment. We will provide valuable advice and a realistic expectation of what will ultimately be the most likely outcome.
Offers in Compromise
Our tax negotiation services usually include working through an OFFER IN COMPROMISE with the IRS. During this series of negotiations, we gather and organize your financial information necessary to disclose to the IRS. The IRS may believe you intentionally failed to disclose your full income or assets or are trying to hide them through fraudulent transfers. We can help explain the real reasons that any errors were made and work with you to limit the damage. Overall, an experienced tax attorney can increase the chances of a successful resolution of your tax problems. We will prepare a complete and professional tax information package, including your relevant financial information, and provide helpful analysis explaining why it is in the IRS’s best interest to accept your offer in compromise.
Many of our clients are able to settle their tax debt for a fraction of what they are owed!
If the IRS accepts your offer in compromise, all collection efforts against you will cease. All interest and penalties also either stop or are wiped away.
Tax problems are not unusual, and tend to come with a flurry of other crises. Many Farmer & Wright clients seek our help to manage ordinary but life-changing problems. They are regular people that may have lost their job, been injured in an accident, suffered a debilitating illness, or are undergoing a personal or business bankruptcy. Sometimes, they are people who simply filed their tax returns and were completely unprepared for the demands that came back. No matter the reason, facing federal or state tax collectors without the ability to pay them immediately requires experienced help. You need a knowledgeable partner to get the best result possible and allow you to focus on other pressing needs.
How a Kentucky Tax Attorney Can Help
There are a number of steps that the tax attorney of Farmer & Wright can take to help you with your tax problems. We can arrange for a power of attorney, contact state and federal tax collectors on your behalf, obtain tax transcripts, and prepare collection information statements using financial statements to document your assets and liabilities and average monthly income and expenses. After determining your ability to pay taxes, we can effectively negotiate with federal and state tax collectors to get the best possible result for you. We can also help you with the numerous deadlines for filing petitions relating to tax assessments and as well as other related processes and events.
Overall, our tax attorney can fully handle your legal process, and we have an excellent record of reducing and even eliminating tax liabilities for many people just like you.
The IRS and state tax services offered at Farmer & Wright may not be for everyone. The tax relief rules are not structured to be universal, but rather to assist people with certain types of problems. The IRS especially has very strict guidelines governing eligibility. As such, we will need to review your IRS filings and other documentary information in order to determine the extent to which we can help. If possible, it is always helpful for you to bring your previous communications with the IRS, tax filings, and other relevant documents in an organized format to the office with you. While collecting and organizing this information can be difficult and frustrating, the time you spend taking care of these basic steps at the beginning usually makes the process much easier as your case progresses.
State and Local Taxes
On the state level, Farmer & Wright, PLLC can help you with a number of challenges. We can review your options with you, which ordinarily include, negotiating an offer in compromise, setting up a payment plan, and stopping the state from garnishing your accounts or wages. Many state actions can be successfully appealed if tax authorities failed to follow the proper procedures when taking official action against your assets.
If needed, our attorneys can also speak with you about whether declaration of bankruptcy should be an option to consider. If applicable, we can guide you through this process as well. A Chapter 7 bankruptcy could allow you to discharge all your income taxes due to the IRS while still retaining your property. A Chapter 13 bankruptcy could enable you to stop the accrual of interest and penalties on your tax debts. This would allow all of your future payments to go towards the actual tax debt itself, rather than towards an ever-growing pile of debt.
U.S. tax laws are complex. At Farmer & Wright, we know it is hard enough trying to make ends meet. We can work with you to stop levies on bank accounts or other asset seizures, assess your financial situation, and negotiate with tax collectors to find an affordable solution for you. Having represented many clients in offer in compromise negotiations and IRS appeals, we know best to proceed. We encourage you to contact our office for a tax evaluation by an experienced tax attorney today.