Palmdale IRS Tax Debt Lawyers
Income taxes are how the federal government runs, so the Internal Revenue Service (IRS) was established to assist with collecting them and enforcing the laws. If you fail to pay taxes, the agency has many tools available to obtain the money you owe. Your wages could be garnished, the IRS can lien property, and you could even lose your home through foreclosure. It is reassuring to know that you may have options to avoid these harsh results, but dealing with the government is no easy task.
Whether you have not paid income taxes for one year or several, it is critical to get legal help when trying to resolve IRS tax debt. You can rely on our team at Wadhwani & Shanfeld to support your needs and develop a strategy to prevent the IRS from using its most powerful enforcement tools. Please contact us to set up a consultation with a Palmdale IRS tax debt lawyer who can explain your options. Some background is also helpful.
Overview of Chapter 7 Bankruptcy Discharge
This type of bankruptcy wipes away your balances, and you can probably expect that the government will not let taxes go. Though it is unsecured, IRS tax debt is not dischargeable because it is a priority debt. However, there are limited situations where you may discharge your debt to the IRS:
- The underlying debt is related to a tax return that is more than three years old;
- The return was filed more than two years ago;
- At least 240 days have passed since the IRS assessed the tax; and,
- You did not engage in fraud or tax evasion regarding the subject return.
Chapter 13 may also be an option, in which you roll the amount into a debt repayment plan that you pay back over three to five years. The IRS cannot engage in collection actions during this time.
Options Through Offer in Compromise
This option is essentially a debt settlement strategy, except that the creditor is the IRS and your debt is past taxes. You may be able to negotiate your tax debt down through negotiations, but you will need to prove undue hardship or other specific facts.
Guidance with IRS Tax Debt
When you have multiple options to resolve the debt, you need experienced legal counsel to help with decision making and determining eligibility. Wadhwani & Shanfeld is dedicated to finding the most beneficial solution. We will explain more about Chapter 7 and Chapter 13, and consult with you about objectives. If bankruptcy is not ideal, our Southern California income tax debt lawyers will take on the IRS through negotiations for an Offer in Compromise.
You Can Rely on Palmdale IRS Tax Debt Lawyer for Assistance
The IRS can be relentless when pursuing delinquent taxpayers, so it is wise to address your tax debt as soon as possible. For more information on your options, please contact Wadhwani & Shanfeld. We can set up a consultation with a Southern California income tax debt lawyer who will advise you on details.