Tax Collections Representation
Tax Collections Solutions
If you owe taxes to the Federal, State, or Local government then you are not alone. Millions of US taxpayers are unable to pay their tax debts and need tax collection solutions. It is important that you work with an experienced tax collection attorney to consider all available strategies to resolve the taxes that are now due.
Understanding How Your Tax Debt Started
There are many ways tax debts are created. A few of the most are common are:
- assessments from a tax audit,
- the result of not having enough taxes withheld from your paycheck,
- from not paying estimated taxes on self-employment income,
- from not depositing payroll taxes for your employees, or
- from not filing tax returns.
Whatever the cause, it is important we understand how the debts were created to we determine the best strategy to resolve the existing debts and advise you on how to avoid recreating your tax debt issues in the future.
Short-Term Tax Collection Solutions
If one or more tax agencies is attempting to collect your tax debt, then it is important that steps be taken to prevent or resolve their collection actions. The most common collection actions are bank levies, wage garnishments, and tax lien filing. In some cases the agencies may take additional steps to seize homes, vehicles, retirement accounts, and other assets.
If available, a Collection Hold will block the tax agency from issuing a bank levy, wage garnishment, or tax lien. Collection Holds may range in duration from a few days to a few months, but in most cases are temporary measure until a long term solution can be established.
If the tax agency has already issued a bank levy or wage garnishment, then a release or modification may be necessary. A release is essential when the bank levy or wage garnishment will cause a financial hardship like inability to pay your rent or mortgage.
Long-Term Tax Collection Solutions
When you are ready to put your tax problems in the past you will need a long-term solution. The most common long term solutions are installment agreement, hardship status, tax lien release, innocent spouse relief, and offer in compromise. Each of these long-term tax collection solutions protects your bank account from levies, your wages from garnishment, and your assets from seizure.
If you have a tax debt, then you should consult with an experienced tax debt attorney first. We provide free tax debt evaluations to taxpayers. Request your free evaluation today.