Tax Relief Attorneys

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Tax Relief

Many among us break out in a cold sweat when a threatening letter or phone call from the IRS is received. With the power and authority of the federal government on its side the IRS can be an intimating creditor. Although it might be tempting to ignore the problem, doing so almost guarantees the problem will worsen. You may ultimately be forced to face the IRS only after they are garnishing your wages, levied your bank account or placed a lien on your home. You do not need to be intimidated if you received a threatening letter or phone call from the IRS. You need to take action. Let a skilled attorney with Bellah Perez’s tax relief team help.

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A bank levy allows the IRS to seize funds on deposit to satisfy a tax debt. A wage levy allows the IRS to garnish up 70% of your wages without first getting approval from a court. The consequences of either a bank levy or wage garnishment can impact your financial life with catastrophic results. Bellah Perez’s tax relief team can negotiate with the IRS to have these lowered or released.
If you are unable to pay IRS liability at one time, the IRS will allow you to make payments over a period of time. During the repayment period the IRS will make no additional collection efforts. An installment agreement with the IRS may also reduce the payment of penalties and interest. The tax team at Bellah Perez has the knowledge to negotiate an agreement with the IRS that benefits you.
A joint tax return by spouses makes each spouse individually responsible for 100% of the IRS debt. This is unchanged by a divorce decree wherein a former spouse agreed to pay the IRS debt. When one spouse’s concealed income or other improper activity gave rise to the tax debt the other or ‘innocent’ spouse may relieved of the tax liability. Bellah Perez’s tax relief team can evaluate whether you are eligible for relief as either an innocent or injured spouse.
An Offer in Compromise (OIC) is a way to settle your IRS debt for less than the amount owed. The IRS will typically accept an OIC when the offer reasonably reflects the collectability of the debt. As a result, during periods of financial distress is often the best time to make on OIC. Bellah Perez’s tax relief team can determine if an OIC is right for you.
When a person cannot afford to pay the IRS due to low/no income and lack of assets the IRS may consider the liability ‘Currently Not Collectible’. If approved for currently not collectible status the IRS agrees to forebear collection efforts. Currently not collectible status is temporary but can be continued as long as hardship remains. Combined with limitations on how long the IRS can collect, currently not collectible status may end your tax liability. Skilled counsel with Bellah Perez can evaluate if currently not collectible is available to you.
The IRS will often file a Notice of Federal Tax Lien for unpaid tax debt. The lien once recorded attaches all property and interest in property owned by the taxpayer. The IRS can sell a taxpayers residence by foreclosing the tax lien. A tax lien also prevents taxpayers from selling or refinancing real property. Bellah Perez’s tax resolution group can negotiate with the IRS to release the property or the entire lien.
Bankruptcy is often effective at resolving IRS debt. Bankruptcy can eliminate tax debts, penalties, interest and permantely stop IRS collection. Tax debt which cannot be eliminated by bankruptcy may be paid off over a period three to five years without interest or penalties. Bankruptcy and its interplay with IRS debt is complicated and requires an experienced attorney to evaluate. Schedule a free consultation with an attorney at Bellah Perez to review your tax resolution options.
Set up a consultation with one of our experienced tax relief lawyers today.
Contact Bellah Perez, PLLC at 602-252-9937.