Tax Debt Lawyer Tempe, AZ
If you owe more money in taxes than you can afford to pay, then you need a trusted Tempe, AZ tax debt lawyer by your side. An attorney can check your eligibility for all available assistance programs, negotiate what you owe, and protect your assets from liens. Debt and taxes are scary, but it is important to remember that you are not alone. Contact Wright Law Offices for help today.
File Your Taxes
Your accountant just handed over your taxes for your signature. You look at the amount you owe and immediately know you are in trouble — that is more than you can possibly afford to pay off. Do not panic, as this happens to many Americans across the country each year. Human nature is to avoid the issue. Do not avoid your taxes. File them just as you always would. It is important to adhere to all deadlines to not cause further issues.
This is a good time to sit down with your accountant or even a financial advisor in order to get advice on how to better prepare for the next year’s taxes. No matter what you owe, you will have to pay some of it back, so it is best to start budgeting immediately for the current taxes you owe on and the future taxes of the next year.
Contact An Attorney
While any amount of debt can be overcome with the help of an attorney, it is especially necessary for those that owe over $10,000 to reach out to a lawyer for help. A qualified attorney will examine the details of your case to determine what your next step will be. In extreme examples, you may be available for government assistance programs to lessen the burden of what you owe. However, these programs are often difficult to be accepted into because of extremely stringent guidelines.
Otherwise your Tempe tax debt lawyer will create a plan to negotiate with the IRS for the amount you owe and create a payment plan for you to follow. While you are able to reach out to the IRS yourself to attempt to negotiate this, it is not recommended due to the intricacies involved in which an experienced lawyer will have knowledge you may not.
Make Payments
Whatever payment plan is created for you, make sure to stick with it to repay your debts. Under the government’s Fresh Start program, it is extremely easy to create streamlined repayment programs that allow you to easily pay back your debt in smaller, more manageable chunks over an extended period of time. Plus, with this program your assets are protected so long as you continue to make the promised payments on time. There are, of course, rules and stipulations to this program as well in which you may or may not qualify for it. A lawyer will be able to better direct your specific situation.
Contact a Tempe tax debt lawyer at Wright Law Offices for help today to create a payment plan and negotiate on your behalf.
How A Lawyer Can Help
If you are facing tax debt, you may want to get in touch with a Tempe, AZ tax debt lawyer as soon as possible. Taxes are an essential part of any country’s economy, and not paying taxes can lead to severe consequences. Tax debt can be overwhelming, so it is helpful to have an experienced lawyer from Wright Law Offices on your side.
A tax debt lawyer can provide you with valuable guidance on how to manage your tax debt. These lawyers are well-versed in tax law and have experience dealing with the Internal Revenue Service (IRS). They can assist you in negotiating a payment plan with the IRS and help you avoid liens or levies that may be placed on your assets.
A tax debt lawyer can also help you understand your rights and obligations as a taxpayer. After all, tax laws can be quite confusing. They can provide you with information on how to file your taxes correctly and on time to avoid any penalties. If you have already incurred penalties or interest, a tax debt lawyer can help you negotiate with the IRS to have them reduced or eliminated.
Trial Representation
In addition to providing legal advice, a tax debt lawyer can also represent you in court if necessary. If you are facing a tax lien or levy, a lawyer can help you defend against it and protect your assets. You worked hard for your property and don’t want to lose it. They can also represent you in a tax audit and negotiate with the IRS on your behalf.
One of the advantages of hiring a Tempe tax debt lawyer is that they can help you navigate the complexities of tax law. Tax laws can be confusing and complicated, and it’s easy to make mistakes that can result in severe consequences. A tax debt lawyer can help you understand the laws and regulations and ensure that you are in compliance with them.
If your tax debt is very high, it can be very difficult to pay it off. That is another good reason to work with a skilled lawyer. There are several ways to reduce your tax debt, such as negotiating a payment plan with the IRS, settling for less than what you owe, or filing for bankruptcy. A tax debt lawyer can help you determine which option is best for your situation and guide you through the process.
Seek Legal Professional Assistance
If you are facing tax debt, it is essential to seek the assistance of a Tempe tax debt lawyer. These lawyers can provide you with legal advice, represent you in court, and help you navigate the complexities of tax law. With their help, you can reduce your tax debt, avoid penalties, and protect your assets. Contact a tax debt lawyer from Wright Law Offices today to learn more about your options and get the help you need to resolve your tax debt issues. They will assess your unique case and advise you on the best way to move forward.
What Can A Tax Debt Lawyer Help You With?
A Tempe, AZ tax debt lawyer knows that tax-related issues can be intricate, daunting, and potentially life-altering if not dealt with appropriately. Whether it’s the IRS breathing down your neck or complex tax codes that seem insurmountable, the realm of taxation is one where missteps can have severe consequences. This is where a tax debt lawyer from Wright Law Offices comes into play.
- Understanding the Tax Code: The tax code is voluminous and often laden with legal jargon that can be perplexing to the layperson. Tax debt lawyers have spent years studying these laws and have a nuanced understanding of their intricacies. They can help you navigate the maze of regulations and ensure you’re compliant, minimizing potential liabilities.
- Negotiating Settlements with the IRS: If you owe the IRS money, they have a reputation for being relentless in their collection efforts. A tax debt lawyer can represent you in negotiations with the IRS, potentially leading to an offer in compromise or other settlement arrangements that may reduce your overall debt.
- Preventing or Lifting Wage Garnishments: If you’re in debt to the IRS, they might opt to garnish your wages as a means of collecting what’s owed. A Tempe tax debt lawyer can help by either preventing the garnishment from taking place or by negotiating with the IRS to have it lifted.
- Assistance with Audits: Facing an IRS audit can be one of the most nerve-wracking experiences for a taxpayer. A tax debt lawyer can provide guidance during this process, ensuring that your rights are protected and that you’re well-represented.
- Filing Back Taxes: If you’ve missed filing taxes for several years, the task of catching up can be daunting, not to mention the potential penalties and interest that can accumulate. Tax debt lawyers can help you through the process, making sure that all necessary forms are correctly filled out and that you’re taking advantage of any applicable deductions or credits.
- Stopping IRS Harassment: Continuous letters, threats of asset seizures, and other aggressive tactics by the IRS can take a mental toll. A tax debt lawyer can act as a buffer, handling all communications with the IRS and ensuring that they adhere to the Taxpayer Bill of Rights.
- Advising on Tax Liens and Levies: The IRS has the authority to place liens on your property or even levy your bank accounts. A tax debt lawyer can guide you on how to prevent or lift such actions, safeguarding your assets.
- Offer Expertise on International Tax Issues: With globalization and the ease of doing business across borders, many individuals and businesses have international tax considerations. Whether it’s foreign bank account reporting or understanding tax treaties, a tax debt lawyer can offer expert advice to ensure global compliance.
Tax issues are not something to be taken lightly. The repercussions of mistakes or oversights can be financially crippling and mentally taxing. A tax debt lawyer provides not just legal expertise but also peace of mind, ensuring that you have a seasoned advocate by your side to navigate the complex world of taxation. Whether you’re facing minor tax troubles or significant IRS disputes, the expertise of a tax debt lawyer can prove invaluable. For help with your tax debt issues, reach out to Wright Law Offices to speak with our Tempe tax debt lawyer now.
Tempe Tax Debt Infographic
Tempe Tax Debt FAQs
How Can We Settle Our Tax Debt With The IRS?
Settling a debt with the IRS can feel daunting, but a Tempe, AZ tax debt lawyer has options for getting back on track. One common approach is an Offer in Compromise (OIC), where we negotiate a settlement amount that’s less than the full balance. This option is available for taxpayers who genuinely cannot pay their full debt and meet specific qualifications. Another route is a payment plan, allowing us to repay the amount owed over time in manageable installments. The IRS offers both short- and long-term payment plans, and they may accept reduced penalties in some cases. Additionally, in severe financial hardship, we might qualify for Currently Not Collectible (CNC) status, pausing collections temporarily. Consulting with a tax attorney can help us explore these choices and decide on the best approach.
What Is Innocent Spouse Relief?
In some situations, one spouse may be eligible for relief if they were unaware of or didn’t benefit from tax errors made by their partner. Innocent Spouse Relief is an option that can separate us from responsibility for back taxes, penalties, and interest due to an error on a joint return. This relief is granted when it’s clear that we weren’t aware of any discrepancies when signing the joint return and that it would be unfair to hold us liable for the debt. To qualify, we must meet specific IRS criteria and submit a request within two years of the IRS’s first collection attempt. Filing for this relief can be complex, so working with a tax law professional can simplify the process and help us understand if it’s a viable option.
What Happens If We Ignore Our Tax Debt?
Ignoring IRS debt will only make the situation worse. The IRS has extensive authority to collect unpaid taxes, which can lead to wage garnishments, bank account levies, or property liens. These actions can severely impact our financial standing and limit our access to credit or future income. Unresolved debt can also grow significantly due to accumulating penalties and interest. The IRS issues multiple notices and allows time for us to address outstanding balances before taking collection actions, so we have time to act if we reach out promptly. Engaging with a Tempe tax debt lawyer early can help us avoid these penalties and explore solutions before the IRS takes further steps.
Are We Still Responsible For Tax Debt If We File For Bankruptcy?
While bankruptcy can provide relief from many types of debt, not all tax obligations are dischargeable. Certain older income tax debts may be dismissed through Chapter 7 or Chapter 13 bankruptcy, but strict requirements apply. For example, the tax debt must be at least three years old, and we must have filed the return for that debt at least two years prior. Other debts, like payroll taxes, are typically not dischargeable. Filing for bankruptcy is a significant decision that can impact our financial future, so it’s essential to understand how it affects our tax obligations. Consulting a Tempe tax debt lawyer who understands bankruptcy law can clarify our options.
Can We Settle Our Tax Debt For Less Than We Owe?
Yes, it’s possible in some cases to settle for less than the full amount through an Offer in Compromise (OIC). The IRS allows qualifying taxpayers to negotiate a reduced amount when it’s clear that paying in full would cause severe financial hardship or be uncollectible. To qualify, we need to provide detailed financial information showing that our income, expenses, and asset values cannot support full repayment. While not everyone qualifies, an OIC can provide a fresh start for those experiencing financial challenges. A tax attorney can assess our eligibility and guide us through the application process if an OIC is an option.
If you’re dealing with tax challenges and want assistance finding the best solutions, contact our office today. Our experienced attorneys at Wright Law Offices focus exclusively on bankruptcy law and can help you take control of your tax situation. Together we can explore the options available to resolve your tax concerns and secure your financial future. Contact us today to schedule your free consultation!
Tax Debt Glossary
When facing IRS pressure and rising tax bills, it’s crucial to have a clear understanding of your rights, obligations, and the legal avenues available to manage your situation. A Tempe, AZ tax debt lawyer is a valuable resource when you’re dealing with unpaid tax balances, potential asset seizure, or complicated filing issues. Below, we’ve defined key legal terms and procedures relevant to resolving tax debt effectively, providing clarity for those seeking support from a qualified legal professional.
Offer In Compromise
An Offer in Compromise (OIC) is a formal agreement between a taxpayer and the Internal Revenue Service (IRS) to settle tax debt for less than the full amount owed. The IRS will only accept an OIC if they believe the taxpayer’s liability cannot be collected in full due to financial hardship or uncertainty surrounding the debt. Applicants must submit detailed financial documentation to prove that they cannot reasonably pay the full amount.
OICs are subject to strict eligibility requirements, including current compliance with all tax filing obligations and payment of estimated taxes for the current year. A properly structured OIC can prevent wage garnishments and asset levies while the application is under review. Legal representation is highly recommended to improve acceptance rates, as errors or omissions can lead to rejections or delays.
Innocent Spouse Relief
Innocent Spouse Relief applies when one spouse is held responsible for tax debts resulting from the other spouse’s errors on a jointly filed tax return. This relief is available to those who can demonstrate they did not know, and had no reason to know, that the reported tax liability was incorrect when they signed the return.
To qualify, the taxpayer must apply within two years from the date the IRS begins collection activity. The IRS evaluates whether holding the applying spouse liable would be unfair under the circumstances. If granted, this relief can eliminate joint liability and stop collection actions such as levies or garnishments. Documentation, clarity, and legal guidance are key to submitting a successful claim.
Currently Not Collectible Status
Currently Not Collectible (CNC) status temporarily halts IRS collection efforts when a taxpayer demonstrates an inability to pay without facing significant financial hardship. While in CNC status, the IRS suspends active collection measures like wage garnishment and bank levies. However, the debt remains, and penalties and interest may continue to accrue.
To qualify, the taxpayer must provide a complete financial disclosure, including income, expenses, and asset values. The IRS will periodically review the case to determine whether the taxpayer’s financial situation has changed. A tax attorney can assist in preparing a compelling CNC request and responding to follow-up inquiries.
Tax Lien
A tax lien is a legal claim the government places on a taxpayer’s property when they fail to pay a tax debt. It serves as a public notice to creditors that the IRS has a right to the taxpayer’s property, including real estate, financial assets, and personal property. A lien can severely damage credit scores and complicate efforts to refinance or sell property.
While a lien does not result in immediate seizure, it remains in place until the tax debt is satisfied or otherwise resolved. Taxpayers can request a lien withdrawal, subordination, or discharge in certain situations. An attorney can help determine the best course of action to reduce the impact of a lien on personal or business assets.
Wage Garnishment
Wage garnishment is an enforced IRS collection method where a portion of the taxpayer’s paycheck is withheld and redirected to pay off tax debt. The IRS does not need a court order to initiate garnishment, and the amount withheld depends on the taxpayer’s income and filing status. This action typically follows several warning notices.
To stop or prevent wage garnishment, taxpayers can request an installment agreement, submit an Offer in Compromise, or apply for Currently Not Collectible status. A tax debt lawyer can communicate directly with the IRS to propose alternative arrangements and secure relief from garnishment.
If you’re overwhelmed by tax issues, working with a legal professional can help clarify your options and restore peace of mind. At Wright Law Offices, we focus on providing real solutions for those dealing with tax challenges in Arizona.
To get started on resolving your tax debt, call us today for a confidential consultation. Let’s discuss your options and put a plan in place that works for your financial goals.