Are you facing a mountain of debt you can’t climb? Have you been turned down for repayment on multiple accounts, having nowhere to turn? Is your federal or state agency calling you to pay back your debt, but you cannot?
You need aid, and you need it fast.
An Offer in Compromise lawyer can help you get out of your financial situation without putting you under the burden of paying larger sums of money.
Take a look at why you need an Offer in Compromise lawyer and what they can do for you.
1. Maximize Your Hardship With the IRS
An Offer in Compromise attorney is a great way to maximize your hardship with the IRS. With an experienced attorney, you can rest assured that your offer will be properly prepared and negotiated.
An attorney will also have better relationships with IRS agents and can be more effective in working on your behalf. They can advise on the best way to resolve any issues and provide advice on how to help ensure a successful application. By hiring an attorney, you can maximize your hardship and reach a more favorable outcome.
2. Paperwork Isn’t Your Strong Suit
If paperwork isn’t your strong suit and you’re considering an offer in compromise (OIC) with the IRS, one of the smartest moves you can make is to hire an experienced tax attorney or CPA who does Offer in Compromise work. You don’t want to mess up your paperwork and miss details that could mean you don’t get the right amount of debt forgiven or put your liability on pause.
A knowledgeable lawyer will be familiar with the details required and make sure they are included properly in your OIC paperwork. They’ll also fill out the proper forms and ensure they’ve filled out accurately and filed within the IRS’s deadline.
A good lawyer can also help you determine the best way to structure your offer so you get the most debt forgiveness and can assess alternative forms of filing OICs depending on your situation. Hiring an Offer in Compromise lawyer to look over your paperwork and give experienced guidance is definitely worth the cost.
3. Preserve Your Assets
Hiring an Offer in Compromise attorney is a critical step in protecting your assets. An OIC attorney can assist you in weighing your options when assessing your debt.
Having legal representation on your side can help you avoid making costly mistakes when responding to IRS notices. An OIC attorney can also assist you in working with the IRS to protect your assets and minimize penalties. An experienced OIC attorney can ensure that the IRS does not take any additional money from you.
4. Reduce Your Tax Debt
Hiring an Offer Compromise lawyer to help with tax debt can be beneficial for reducing tax debt. OIC lawyers specialize in negotiating settlements with the IRS for lower amounts than what was initially owed. They can help taxpayers reduce the size of the debt and come to repayments that are suitable to their budget.
They can also determine eligibility for an OIC, prepare financial statements, reasonableness of the offer, and represent the taxpayer in the negotiation phase. Hiring an OIC lawyer can help taxpayers with high tax debts receive expert advice and cut the amount of tax debt owed, and create a manageable repayment plan through an Offer in Compromise.
5. Craft an Effective Strategy
The right Offer in Compromise attorney can craft an effective strategy that can be very beneficial to the taxpayer. A good attorney can help a taxpayer develop a payment plan that works with their budget and sets a timeline for paying off their debt.
The attorney can also help challenge any inaccurate information that can be used to reduce the taxpayer’s liabilities. They can also provide legal advice on how to best execute the offer to the IRS, providing more favorable terms for the taxpayer. They can also stay informed on the latest tax laws and regulations and relay updates to the client so they are fully informed of any changes.
They can also plan different strategies to explore and check which option works best with the individual taxpayers’ financial situation. With a great deal of experience, the right OIC attorney can provide a very effective strategy and work toward the best outcome for the taxpayer.
6. Filing for an Appeal
The most effective way to challenge the IRS is to file an appeal of their denial of an Offer in Compromise. It is important to have the help of an experienced offer-in-compromise lawyer, who can understand the complexity of the tax system and devise a strategy to increase your chances for a favorable outcome.
An OIC lawyer can negotiate with the IRS to find an agreeable resolution and handle administrative appeals. They can also provide customized advice on your case and make sure you present the best possible case for the appeal. Finally, they can cut surprises from the IRS to achieve an optimal OIC settlement.
7. Not Eligible for an OIC
When a taxpayer is facing debt with the IRS and is not eligible for an Offer in Compromise, they need the best representation they can find. A skilled OIC lawyer can help them navigate their options. An experienced lawyer knows what to look for when submitting an OIC and understands the complexities of the OIC process.
An OIC lawyer is familiar with the taxation laws and can provide alternative solutions if an Offer in Compromise isn’t available. An OIC lawyer can provide a comprehensive review of the taxpayer’s financial situation and tell the best course of action. An OIC lawyer is a valuable partner in resolving IRS debt and can provide a taxpayer with the best chance of getting their financial life back on track.
Learn More About Offer in Compromise
The reasons to hire an Offer in Compromise Lawyer are many. Working with a professional who can guide you through the process and make sure you receive the best outcome is the safest and best option.
Don’t wait to get the help you need if you are facing a tax burden. Contact an Offer in Compromise lawyer today and start protecting yourself and your finances.
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