Are you ready to say goodbye to up to 90% of your back tax debt?

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Which IRS Programs You Qualify For
How Much You Can Legally Avoid Paying
Exactly What Steps to Take Next

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1) Who do you owe tax debt to?

2) About how much do you owe in tax debt?

3) Do you have un-filed back tax returns?

4) Have you had a wage garnishment, tax lien or bank levy?

5) Have you received threatening or confusing letters from the IRS?

6) Great! Now we just need to know where to send your results to?

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Here's How the Process Works:
1

Free Initial Consultation and Financial Analysis

15 Minutes - We will go through your entire financial situation, step-by-step and see what programs you qualify for, determine how we can help, and answer any questions that you may have.

2

Research & Investigation

4-7 Days - Using the Power of Attorney, we will work with the IRS to determine what evidence they have against you (without disclosing anything), so we can create a plan of attack.

3

Fight for the Best Resolution

1-3 Months - After learning exactly what they have against you, we will negotiate with the IRS on your behalf, removing all the penalties we can, and fighting for a great settlement for you.

4

FREEDOM!

Forever - Once your tax burdens have been lifted, you can go on living your life again! You will finally be free of the burdens chasing you, and can start fresh with no tax debt!

Ready to finally get financial freedom? Our team is read to help you now!

Highly Experienced Hot Springs Tax Lawyer

Give our Hot Springs Office a Call Today

One of the worst things you can do with IRS back tax debt is continue to fail it for decades at a time. The IRS loves to add to the amount you owe, and certainly will stop at nothing to collect that money on interest costs and additional fees.

They are the greatest collection agency on the planet, and we steadfastly believe that no one should have to face them by themselves.

For many people, having a gigantic government agency continuously harassing them with letters, notices and revenue officers is a horrid thought.

That’s why our Hot Springs team is here to assist you. You no longer have to face the Internal Revenue Service on your own, and certainly will have someone in your corner to help negotiate for you.

With only 15 minutes on the phone with our pros, you’ll know what to do next, and precisely what you’ll qualify for.

Give our Arkansas team a call now!

A 15 minute consultation with our Hot Springs team can help possibly save you tons of dollars

What is an OIC program

Essentially, it refers to the form of arrangement between the person facing the tax problem (tax payer) and the IRS Company which helps the tax payer in this case to settle his or her debt. The IRS helps the client faced with serious tax issues instead or by paying bailing them out up to less compared to the sum owed. Nonetheless, not all taxpayers that are distressed qualify for IRS Offer in Compromise Deal. This really is just after appraisal of the client was carried out, because qualification is based on several variables. The IRS Offer in Compromise Arrangement plays an instrumental role in aiding citizens with financial challenges that are distressed solve their tax problems. What this means is that the IRS acts as the intermediary which helps their tax debt is paid by the citizen in the mode that is most convenient and adaptable. The primary interest and point of focus is the compromise that totally satisfies the needs of both the taxpayer as well as the Internal Revenue Service (IRS).It’s advisable to note the citizen must make a valid and proper offer vis-a-vis what the IRS considers their honest and precise potential to pay.

What Does it Take to Qualify?

Filling the applications doesn’t guarantee the Hot Springs citizen a qualification that is direct. The Internal Revenue Service starts evaluation process and the overall appraisal that may render you incapable of paying your taxes. The applications have to be filled with utmost correctness saying definitely reasons for your inability to pay tax. These programs are then supported with other applicable records that’ll be utilized by the IRS to find out the eligibility of the citizen for an Offer in Compromise Deal. Nonetheless, there are a few of the few qualifications process that should be fulfilled totally be the citizen. Some of these qualifications include but not restricted to ensuring that the taxpayer files all the tax returns they are legally bound to file, make and present all the estimated amount of tax payments for the current year and eventually the citizen is designed to make down payments for all the national tax for the current quarter especially for taxpayers who run companies with employees. All these are the three basic tenets of qualification that each and every citizen seeking help from IRS must meet in order to be considered.

What to Do now

This really is an amazing law firm that can function as a yard stick for people who demand proper help in negotiating for an IRS offer in compromise agreement. Do not hesitate to contact them because they have a powerful portfolio and a good security standing. They’ve a team of dynamic and competent professionals who are constantly on hand to assist you. Try them today and experience help like never before. It is simply the best when it comes to dialogue of an IRS offer in compromise agreement.

Let our Arkansas team negotiate a payment plan for you, so you can afford to pay back your debt over time

The IRS Installment Agreement is a way for citizens in Hot Springs to pay their tax debt when they can’t pay it in full with their tax return. As long as the citizen pays their tax debt in full under this particular Agreement, they could reduce or get rid of the payment of interest and penalties and avoid the payment of the fee that’s associated with creating the Deal. Establishing an IRS Installment Agreement requires that all necessary tax returns have been filed prior to applying for the Agreement. The citizen cannot have some unreported income. Individual taxpayers who owe $50,000 or less in combined individual income tax including penalties and interest can receive 72 months to pay the amount of tax owed .

Good Things about an Payment Plan

The agreement will result in some significant gains for the taxpayer. While an agreement is in effect enforced collection action will not be taken. Life will be free of IRS letters and notices. When the taxpayer can count on paying a set payment each month rather than needing to worry about getting lump sum amounts on the tax debt, there will be more fiscal independence. The taxpayer will remove interest and continuing IRS penalties. The Internal Revenue Service will help if the taxpayer defaults on a payment supplying the IRS is notified promptly, the citizen keep the arrangement in force.

Problems with the Installment Agreement

Some obligations have the Installment Agreement. The minimum payment should be made when due. The income of an individual taxpayer or the incomes of joint citizens should be disclosed when applying for an Installment Agreement. In some cases, a financial statement must be supplied. All future returns must be submitted when due and all the taxes must be paid when due. Taxpayers paying their tax debt under an Installment Agreement might have to authorize direct debit of their checking account. This method of making monthly payments enable the citizen to request that the lien notice be withdrawn. But, the lien may be reinstated if the taxpayer defaults on the Installment Agreement.

The taxpayer and the Internal Revenue Service can negotiate an Installment Agreement. Nevertheless, particular advice must be supplied and any info may be subject to affirmation. For taxpayers a financial statement will be required.

How to Prepare to Apply for an Installment Agreement

There are a few precautions that must be considered while citizens can submit an application for an IRS Installment Agreement. There are some position which can make this a challenging job though the IRS tries to make applying for an Installment Agreement a relatively simple procedure. Since many issues can be eliminated by an Installment Agreement with the Internal Revenue Service, it is essential to get it right the very first time that the application is made.

We are the BBB A+ rated law firm serving all of Hot Springs and Arkansas, which may offer you skilled help. Our many years of expertise working on behalf of taxpayers who have problems paying their tax debt with the Internal Revenue Service qualifies us to ensure approval of your application for an Installment Agreement.

Ultimately put a conclusion to the letters and notices that the IRS has been sending to you, and let our Hot Springs team help.

Notices and IRS Letters are sent to those who have not paid all of their tax obligation or have not filed their tax returns. The Internal Revenue Service is responsible for collecting taxes due from citizens to ensure the Federal Government has the funds to conduct its business. The Internal Revenue Service assumes that taxpayers who are delinquent in filing their tax returns and who fail to pay their taxes are blowing off the reason why taxes are significant. The IRS also supposes that citizens don’t have an excellent rationale for not meeting their tax obligations. Aggressive pursuit of these citizens is the reason IRS letters and notices are sent. Individuals who have filed their tax returns but have not paid all of the taxes that are due, will also get IRS letters and notices. For performing speedy group action delinquent taxpayers are on the IRS radar. Citizens need to recall that the IRS will not need to begin any court actions to impose wages, bank accounts and property. Even pension income may be attached.

Many IRS letters and notices are sent to impose a punishment on the citizen. Penalties are prolific. Now the different of fees is 10 times that number, although in 1988, there were only 17 fees that the IRS could levy. The IRS also has over 75 distinct letters and notices it can send to individual taxpayers. Some of these can surely become serious problems for the taxpayer.

Examples of Letters

Notice of Under-Reported Tax Debt

A notice that maintains a taxpayer has under reported their income is a serious issue. Often, this may be accommodated readily, but the citizen will be assessed interest and a penalty if the IRS claim is valid. If this notice spans more than one year of tax filings, then the taxpayer may be accused of filing a fraudulent return. The penalties and the interest will amount to an impossible amount of money regardless of the perceived aim.

Notice of Property Garnishes

A notice that threatens to attach a taxpayer’s wages, bank account or property is serious. This notice follows letters that have been sent to the taxpayer in an effort to resolve the delinquency before it achieves the collection activity.

Notice of Home Lien

A notice saying the IRS has filed a lien on the taxpayer’s property also follows letters of intent to take this actions. The notice will contain the quantity of the governmental agency and also the lien where it was recorded. The IRS can also drive the selling of the property to acquire fulfillment of the lien. If a deal is planned, a notice will be issued.

What to do with a IRS notice

The citizen should never dismiss IRS letters and notices. Instead, they ought to promptly seek help with these possible dangers to their financial protection. Contacting our BBB A+ Hot Springs law firm is even more important if notice or a letter was received.

Tax liens can get very challenging if you are buying or selling your home or property. Let our Hot Springs team help you today

What is a lien?

The lien cushions the claim of the authority to all your present property, inclusive of personal, financial and real estate assets. Liens typically record the exact amount owed to IRS at the precise time it is levied in a public file known as the Notice of Federal Tax Lien. The record notifies creditors that the government has a right to confiscate your property at just about any particular time. Different credit reporting agencies conventionally acquire this specific information consequently tax liens finally reflect on your own credit reports.

Federal tax liens can certainly be prevented from being lodged by paying all your tax dues up before the IRS decide to impose a lien on your assets, and also. Through establishing installment agreements which sufficiently satisfy the demands of the IRS as not to lodge a lien, they may also be evaded. A federal tax lien cannot be filed if a taxpayer chose to prepare a streamlined or guaranteed installment treaty. Such deals require the taxpayer keep a balance of less than or a figure $10,000 that for the guaranteed payment treaty and for the streamlined agreement , it should be $25,000 or less. In a situation where the taxpayer owes more than $25, 000, a tax lien may be avoided if he/she a streamlined treaty. lays out tries their best to reduce that special outstanding balance to just $25,000 or less and instead There are two methods of removing tax liens: withdrawal and release.

What do I have to do to get my lien wiped away?

Getting federal tax liens is when the IRS resort to revoking the lien like it never existed. The lien is filled lien withdrawals normally take place. In a case where the tax lien is incorrectly filed, contact the IRS as soon as possible. The IRS agents will check your account in order to substantiate that you’ve got no tax arrears then take the steps that are necessary in withdrawing the lien.

Releasing a national or Arkansas state tax lien usually means that the imposed lien constrains your assets. Immediately after lien releasing, the county records will instantly be brought up to date to show that’s has been released. Yet,the presence of a federal tax lien once will be shown in your credit reports for ten years. Liens are usually released within a month of clearing the outstanding tax arrears or upon creating the bonded and streamlined agreements.

What to Do Next

To sort complex lien problems encountered, for instance release,withdrawal,subrogation and subordination (Set advisory group), Concluding basic lien problems, requesting or confirming a lien, releasing a lien (Central Lien operation), Guidance from organizations within IRS (Taxpayer Advocate service), Inquiring whether bankruptcy determined your tax arrears (Central insolvency operation),don’t be unwilling to visit our offices to help you in effectively removing your tax liens by settling your debts on schedule to prevent the authorities from confiscating your property or instead you can give us a call and our Hot Springs agents shall have the ability to allow you to browse through any impending federal tax liens.

When you have had a garnishment put on your own wages, our Arkansas team can have it removed fast.

What is a Wage Garnishment?

IRS wage garnishment refers to the withholding or deduction of Arkansas wages from an employee’s salary or damages emanating from instances of unpaid IRS taxes. In the event you owe the Internal Revenue Service back taxes and don’t react to payment notices or their phone calls chances are that you may be subjected to an IRS wage garnishment. In other quarters, it is also known as a wage levy or wage attachment. It’s worth noting that a court order is usually not needed and other national and state laws pertaining to the total amount of exempted from garnishment does provide several exceptions for the wage levies.

The garnishment procedure is usually fairly extended, first the IRS discovers how much you really owe them in back taxes, once this has been done, they will send you several payment request notices in the email as well as more than a single phone call with regards to the debt in question. Failure to react to the phone calls and notices,automatically leads to a ‘Notice of Intention to impose” being sent to your last known mailing address. You normally have thirty (30) days to get in touch with IRS with regards to this notice till they go ahead and forwarding the notice to your Hot Springs employer. Once this notice was sent to the Hot Springs employer, you’ve got an additional fourteen (14) days to make a reply before garnishment of wages begins. The employer typically has at least one pay period before they’re required to send the money, after receiving a notice of levy.

How Much Can the IRS Take from My Paychecks?

IRS garnishment rules generally allow the Internal Revenue Service to deduct or garnish more or 70% of an employee’s wages; this is mainly done with the aim of convincing his representative or the worker to touch base with IRS to settle the debt. It is also worth saying that the income which are exempted from garnishment do depend on the tax filing status of the garnishee (filing jointly, married or single) and any number of listed dependents on the tax return.

Wage garnishments are typically one of the very aggressive and harsh tax collection mechanisms and one should never take them lightly, as a matter of fact, they would rather solve tax issues differently and just sanction this levy when they feel they have ran out of feasible alternatives. This really is typically not possible due to a wide selection of reasons even though paying off the taxes you owe the IRS is the simplest way out of such as situation. First of all, you may not possess the tax liability or the entire sum may belong to your ex spouse or somebody else, you will be required to prove this though.

What should I do next about garnishment?

Do fairly fast and you thus need to discuss any payment arrangements with the Inland Revenue Service. In this regard, it is imperative that you get in touch with an expert who’ll help you to easily obtain a wage garnishment discharge and cease or end the garnishment. We are a Hot Springs BBB A+ rated tax firm with a team of highly qualified tax lawyers with years of experience as well as a long list of satisfied clients to demonstrate this. Get in touch with us and we guarantee to get back to you within the shortest time possible, usually within one working day or less.

Other Cities Around Hot Springs We Serve

Address

Hot Springs Instant Tax Attorney

534 Ouachita Ave, Hot Springs, AR 71901
Phone

(501) 475-3007

Customer Rating
Services / Problems Solved
Removing Wage Garnishments
Getting Rid of Tax Liens
Removing Bank Levies
Filing Back Tax Returns
Stopping IRS Letters
Stopping Revenue Officers
Solving IRS Back Tax Problems
Ironing out Payroll Tax Issues
Relief from Past Tax Issues
Negotiating Offer in Compromise Agreements
Negotiating Innocent Spouse Relief Arrangements
Penalty Abatement Negotiations
Assessing Currently Not Collectible Claims
Real Estate Planning
Legal Advice
Tax Lawyers on Staff
Steve Sherer, JD
Kelly Gibson, JD
Joseph Gibson, JD
Lance Brown, JD
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How Do You Get an Offer in Compromise?

You'll locate step-by-step directions and all of the forms for submitting an offer in the Offer in Compromise Pamphlet, Form 656-B. Your completed offer bundle will include: Form 433-A (OIC) (individuals) or 433-B (OIC) (companies) and all required documentation as specified on the forms; Form 656(s) - person and company tax debt (Corporation/ LLC/ Partnership in Arkansas) have to be submitted on different Form 656; $186 application fee (non refundable); and First payment (non-refundable) for each Form 656. Pick a payment option. Your first payment will vary based on your offer and the payment option you choose.

What Tax Debt is Dischargeable?

Most unsecured consumer debts including utility bills, medical bills, back lease, personal loans, government benefit overpayments, and credit card fees are dischargeable in Chapter 7 bankruptcy. There is an exception to discharge if the cash, Arkansas property, or services was obtained under false pretenses. The false pretense must have been made in writing to the creditor as well as the misrepresentation should have been material, which means the rendering was such that the creditor wouldn't have offered credit had the true facts been known. Moreover, money rulings are almost always dischargeable, with a couple exceptions.

How Do I Choose the Right IRS Debt Relief Company?

To select the best IRS Debt Relief Business, you'll need to take note on some variables regarding the performance of the firm. For example, you would have to inspect for an A rating in the BBB. The fewer the criticisms the better. Additionally, you will need to assess for duration of time in business. 5 years or more is optional; Assess for licensed tax professionals and ask to talk with the man who will be on your own Power of Attorney; Make sure your instance won't be outsourced to another business or individual; Be certain to know your role in the resolution of your tax debt, and the manner in which you and the Hot Springs or Arkansas business you select will interact and work together.

Do Tax Attorneys go to Court With You?

Generally, a lot of folks usually prefer to go to court with their tax attorneys. Merely a Tax attorney is going to have the experience in reaching tax settlements. They are going to not have a complete understanding of the ins and outs of the assorted programs while a CPA may know about some tax settlement plans. Codes and tax laws are complex and many times change annual. In addition there are lots of applications available that decrease or a troubled taxpayer may use to settle the quantity of tax liability but only an experienced tax lawyer will learn the best way to qualify you and to determine both the most effective system to utilize in Hot Springs.

How Often does the IRS Accept an Offer in Compromise?

The IRS often accepts an offer in compromise when the most they are able to expect to accumulate within a reasonable time are represented by the sum offered. Therefore, you're advised to explore all other payment options before submitting an offer in compromise from Hot Springs. The Offer in Compromise program is not for everyone. Thus, should you think about hiring a tax professional to allow you to file an offer, make sure to assess her or his qualifications. Also, before they could consider your offer, you need to be present with all filing and payment requirements.

How Much Can My Tax Debt Be Reduced?

Depending on your individual situation, you can expect to lower your tax debt by anywhere from 25% to 95% and beyond. When you have faced considerable financial hardship like job loss, medical emergency, or something different, in Hot Springs, you can qualify for some plans which may drastically lower your debt. But if you don't, simply by removing the IRS fees and interest charges, you can easily get 25% to 40% off of the amount you owe.

Will negotiating with the IRS result in a higher tax debt if they find something out?

It happens that they find something outside and when you're negotiating with the IRS, they threaten you with charges that are serious and even could be harsh on you. This is an extremely serious situation, and one that you do not wish to manage by yourself. Broadly speaking, this is the consequence of income tax evasion. The IRS will take begin to send notices to you in case you don't. The the more time you go without paying or reacting the more it appears that you are hiding.

What should I Do if the IRS Rejects my Offer in Compromise?

In the event the IRS rejects your offer in compromise, you should set the following documentation in position and be prepared to apply for an appeal regarding the offer in compromise: The 30-day letter rejecting the OIC; Worksheets that came with the rejection letter; Form 656, Offer in Compromise. Form 433-A, Group Income Statement for Wage Earners and Self-Employed People that you submitted to the IRS by means of your Form 656, Offer in Compromise. You need to take note that throughout the self-help tool, where a Form 433-A or 433-B is mentioned, the Form 433-A (OIC) and 433-B (OIC) might also be used.

What Should I Do If I Can’t Pay My IRS Tax Debt?

In the event you can't pay the IRS has payment options available. Which option might work for you usually depends on how much you owe and your present financial situation. Each choice has different requirements and some have fees. People facing financial problems may find that there is a tax impact to events for example Hot Springs job loss, debt forgiveness or tapping a retirement fund. Most of all, should you think you may have trouble paying your tax bill, contact the IRS immediately.

How Likely is the IRS to Accept an Offer in Compromise?

The IRS is likely to approve an offer in compromise when the most they can expect to collect within a reasonable time are represented by the amount offered. Before the IRS considers your offer, you should be current with all payment and filing requirements. You are ineligible if you are in an open bankruptcy proceeding in Hot Springs. Make use of the Offer in Compromise Pre-Qualifier prepare a preliminary proposition and to support your qualifications. You'll locate step by step instructions and all of the forms for submitting an offer in the Offer in Compromise Booklet, Form 656-B.