Tax resolution generally involves dealing with a tax problem that has gotten out of control. Examples may include unfiled tax returns, owing a tax debt without having the means to pay it, or both. These types of tax problems are often very stressful, and unfortunately easy to put off because the government is not always quick to act. However, when the government finally does take action, it is usually in the form of a bank levy or wage garnishment, both of which can be devastating to someone’s finances.
Creating a Strategy
No matter where you are in this process, our experienced attorneys can help resolve the problem so you can move forward with your life. This often involves notifying he government that you are ready to correct any noncompliance issues so that you may prevent a levy or garnishment. This will generally buy some time to file any back tax returns and develop a strategy to resolve the tax debt. Potential strategies for resolving tax debt include: amending returns to reduce the tax liability, entering into an installment agreement, filing an offer in compromise, filing for bankruptcy, entering into currently non-collectible status, some combination of these, or other alternatives.
Many companies advertise an offer in compromise as the best solution; although, this one-size-fits-all approach is not always a good fit. Every taxpayer’s situation is unique, so it is important to develop a strategy that achieves the best possible result.
Contact an Experienced Tax Attorney from the Sacramento Area
If you are feeling overwhelmed by tax debt or unfiled tax returns, our experienced tax attorneys at NewPoint Law Group, LLP, can strategize with you to reduce liability and possibly decrease your debt. To schedule a free consultation, call 800-358-0305 or contact us online today.