Tax Liens Can Be Settled With The Help Of A Tax Lawyer
IRS or State Tax Installment Plans
As both tax lawyers and tax accountants, John Spurgeon and Associates can provide IRS or state installment plan solutions for the discharge or reduction of your tax liens.
If you are unable to pay your taxes owing in full, then an installment plan can be negotiated with the IRS for federal incomes taxes or the Franchise Tax Board for California state taxes. You will however incur interest and penalties but that might be a small price to pay for smaller, more manageable tax payments.
Installment Plans
A taxpayer could be eligible to pay off a tax debt by arranging an installment agreement with the IRS.
If your balance owing is $25,000 or less including tax, interest and penalties, you can apply
- Online application
- By calling the IRS
- Completing and returning Request For Installment Agreement – form 9465
If your balance owing is greater than $25,000 including tax, interest and penalties, you may still qualify by completing and returning Collection Information Statement Form 433F. This form requires a much greater disclosure of your financial affairs.
The IRS will advise you whether or not your offered terms for an installment agreement has been approved or, if not, what modifications they are requesting.
If your wages are subject to a garnishment you can get this released upon successful conclusion to an installment agreement. Depending on the circumstances the tax agency may or may not file a tax lien against you.
When you file your next tax return and there is a refund due, it will be applied to any outstanding taxes owing. In addition, you will still be expected to make your monthly payment.
As tax lawyers and accountants with extensive knowledge about dealing with tax agencies we are confident that we can help you with your tax liens situation by arranging a payment plan.
We offer a complementary consultation about your circumstances.
Please call today 626-440-9518.