Plymouth IRS Relief Lawyers Working Tirelessly to Settle Tax Debts
No one ever wants to find out that they owe money to the Internal Revenue Service (IRS), but unfortunately, many people in Massachusetts have incurred substantial tax debts. If you are in this situation, it’s important to understand that there are ways to get out of tax debt once and for all. But you shouldn’t try to seek financial relief alone. Instead, turn to the trusted IRS tax debt attorneys at Benner & Weinkauf as soon as possible.
Call 774-404-8321 to schedule a free consultation with our experienced attorneys today.
What Tax Relief Options Are Offered By the IRS?
The IRS offers taxpayers two different options to pay the taxes they owe, including:
- Payment plans: If the IRS approves your payment plan, you can make monthly payments on your tax debt until it has been paid in full. This makes paying your debt more manageable.
- Offer in compromise: Some taxpayers may be eligible for an offer in compromise, which is basically a tax debt settlement. If your offer is accepted, the IRS will allow you to settle your tax debt for less than what is owed.
Many people are in debt as a result of both unpaid taxes and penalties imposed on these unpaid taxes. If you are struggling to pay your tax penalties, help may be available. The IRS offers three forms of penalty relief, including:
- First-time penalty abatement: This is only available to taxpayers who have not been penalized by the IRS over the last 3 years.
- Reasonable cause: If you missed the deadline due to a natural disaster, death, serious illness, or another sound reason, you may qualify for this relief.
- Statutory exception: If the IRS provided you with incorrect information, you may qualify for this penalty relief.
Let the skilled tax relief attorneys at Benner & Weinkauf help you explore your options and secure the IRS tax relief you need.
Are Tax Debts Dischargeable in Bankruptcy?
Most tax debts are not dischargeable, which means you cannot get rid of them simply by filing for bankruptcy. However, income tax debts that meet these conditions are dischargeable:
- You must have filed tax returns for the last two years or the income tax debt is not dischargeable.
- The income tax debt must be at least three years old at the time you file for bankruptcy.
- The IRS must have assessed the tax within the last 8 months.
If these conditions are met, the income tax debt may be discharged at the end of your Chapter 7 bankruptcy proceeding. If you file for Chapter 13 bankruptcy, you may have to make payments on this tax debt over the course of three to five years. But at the end of this repayment plan, the remaining income tax debt will be discharged.
Schedule A No-Cost Strategy Session With Our IRS Tax Relief Lawyers Now
Don’t spend another minute living in tax debt. Let our skilled IRS tax relief attorneys review your case and help you resolve your tax debts. We have decades of experience seeking federal tax relief for clients in Massachusetts. With our help, you can wipe your financial slate clean and put this behind you. Schedule a free consultation with the team at Benner & Weinkauf by calling 774-404-8321 or submitting your information using the form on this website.