Maryland Tax Resolution Lawyer
When you receive a notice from the Internal Revenue Service (IRS), you almost always assume that it is bad news. After all, the IRS only tends to contact you when it has decided that you owe the federal government money, when you’ve made a mistake on your income tax return, or when you or your business has become the subject of a tax audit.
Federal tax law is notoriously complex, and it is easy for anyone to get lost in the maze of dealing with a tax law problem without help from a qualified attorney. Dealing with the IRS also can be an enormously stressful situation, as you try to deal with your IRS problem in addition to the everyday challenges of your personal and professional life. However, there are important deadlines and rules that you must follow when you are facing a tax controversy.
With early intervention by a skilled Maryland tax resolution lawyer, you can comply with all deadlines and regulations as you work toward resolving your outstanding tax issues.
Potential Tax Issues
Whether you operate your own business or have personal tax issues, enlisting the help of an experienced tax resolution lawyer in Maryland may be your strongest defense against IRS and the penalties that it can levy against you. There are a number of different tax issues that commonly arise with the IRS, including the following:
- IRS notices of intent to lien or levy
- Innocent or injured spouse relief
- IRS installment agreements for past-due taxes
- Garnishments
- IRS audits of individuals and businesses
- Unfiled tax returns
- Tax settlements and offers in compromise
- Payroll taxes and trust fund recovery penalty
These are only a few of the many tax problems that you might encounter with the IRS, as either an individual or a business owner. Given the complexity of these issues and federal tax law in general, retaining the services of a Maryland tax resolution attorney can be crucial to your success in dealing with such matters.
IRS Penalties
The potential penalties for failure to comply with IRS laws and regulations can be staggering and financially detrimental to individuals and businesses. The IRS can issue wage levies to deduct payments toward tax debts directly from individuals’ paychecks.
Interest and penalties will continue to accrue in most cases so long as a tax debt remains unpaid. The IRS also can levy individual and business bank accounts in an attempt to get payment for unpaid tax liabilities. See 26 U.S.C. § 6331.
Federal criminal tax fraud charges also can occur when federal taxes continue to go unpaid. Due to the severity of these potential penalties, a Maryland attorney who deals with tax resolution issues is a necessity.
IRS Tax Resolution Strategies
When individuals and businesses are overwhelmed by potential IRS penalties and aggressive collections methods, it is easy to forget about the various IRS tax resolution strategies that exist. For instance, if individuals or businesses have unpaid federal and/or state taxes that they cannot afford to pay, an Offer in Compromise may be a suitable solution.
An Offer in Compromise is a tool that permits taxpayers to pay an amount that is less than the total amount owed to the government. See 26 U.S.C. § 7122. This both allows taxpayers to get out from under significant tax burdens and the federal government to collect at least a portion of what it is owed.
Offers in Compromise may be available if there is genuine dispute about tax liability, considerable doubt about a taxpayer’s ability to fully repay the tax debt, or if it would serve effective tax administration.
Installment plans are another way that taxpayers can resolve unpaid tax liabilities with the federal government. The IRS permits taxpayers to enter into installment payment plans when they cannot pay their tax liabilities in full by the applicable deadlines. See 26 U.S.C. § 6159. Some plans limit interest and penalties if paid off during a short period of time. Other plans spread out payments over a longer period of time, but add in interest, penalties, and other fees to the principal amount of taxes owed.
Contact a Maryland Tax Resolution Attorney Today
Dealing with the IRS is never an easy task, but there are strategies and means of relief in many situations. An experienced Maryland tax resolution lawyer can be your strongest ally in dealing with the IRS and all of your tax issues.
Do not delay in making that call to a skilled and knowledgeable tax resolution attorney; there are important deadlines and rules that you must follow to take advantage of all available forms of tax relief.
