Wisconsin Tax Debt Resolution Attorney
If you’re facing financial distress due to unpaid taxes and being hounded by the IRS, you should speak to a Wisconsin tax debt resolution attorney. Debt that is not managed can cause excess stress and anxiety without the help of a bankruptcy attorney. We know the difficulties that debt can bring and how tough it is to pay back taxes. Years of experience have taught us the best strategies to use when it comes to settling IRS debts. With the help of a Wisconsin tax debt resolution attorney, you can be on your way to debt freedom.
Miller & Miller Law, LLC also helps clients through the convoluted world of the IRS and tax collection. Our bankruptcy law firm has given help to countless people who have encountered financial struggles in their lives. It is very easy to get into tax trouble these days, and it almost feels like the system is meant to entrap innocent citizens. We have dealt with difficulties caused by unpaid residential, business, and government taxes.
Our clients include families, local businesses, friends, and neighbors who are much more than a number to us. We believe that everybody deserves a second chance. Don’t allow your tax debt to take over your life. Seek the help of a Wisconsin tax debt attorney that focuses on helping clients like you start the process of becoming debt free. Get in touch with us right now to book a FREE CASE EVALUATION and discuss your legal options with our tax attorney.
Why Do I Need the Help of a Wisconsin Tax Resolution Attorney?
The following are the most prevalent signs that you should ask for help with your tax debt:
You Owe Money in Back Taxes
Back taxes that have not yet been paid, particularly for more than 1 year, can lead to a situation that is difficult to escape for those with a small income and with only a few resources. If you really don’t have the resources to pay your back taxes, especially if you already have many years’ worth, pursuing tax debt resolution services is often wiser than ignoring or dealing with them on your own.
You are Dealing with Wage Garnishment
Among the best reasons to pursue tax debt resolution as early as possible is wage garnishment. Restoring your financial condition can be almost difficult if you’re losing a major amount of your income due to tax debt, and tax debt resolution is a critical element of resolving your tax problem and getting back on your feet.
You Have a Tax Lien
Working with a professional to address your tax debt is extremely important if you have a tax lien on your house or your other assets. The right Wisconsin tax debt attorney might be able to have this lien removed once you’ve formed a strategy for settling your tax obligation.
What Happens if I Do Not Resolve My Tax Debts?
Though it is tempting to totally ignore your tax debt if you know you won’t be able to pay it, especially since the IRS technically cannot collect a tax debt after 10 years, doing so will create more problems in the long run than taking the initiative to discuss your options with a tax attorney. Several of the major disadvantages are as follows:
- Your tax debt will be forwarded to collections.
- You forfeit any tax refund money you would otherwise be entitled to.
- Your tax bill is being charged with additional interest.
- Levies placed on your income, your bank account, and other assets
- If your debt is older than April 2018 or if a lien is brought against you, your credit score may suffer
Avoid these potentially disastrous consequences by contacting Miller & Miller Law, LLC now for a FREE CASE EVALUATION.
What Should I Do If I Receive an IRS Notice?
The IRS issues millions of notices to people for a variety of reasons. An IRS notice requires an urgent response, and ignoring it may result in federal action against you. As stated on the IRS’s official website, the following are the major reasons you will get a letter and notice from them:
- You have an unpaid tax balance.
- Being due a higher or lower tax refund
- The IRS wants to inquire about anything listed on a tax return.
- The IRS wants to confirm your identity.
- The IRS needs further information.
- Your tax return was changed by the IRS.
- They must notify you that there are any delays in the preparation of your tax return.
If you have recently received any type of IRS notice, our Miller & Miller Law, LLC can help you move ahead. Calling a Wisconsin tax debt resolution attorney should be your first move toward financial freedom if you’re facing a potentially lengthy and drawn-out debt collection process.
What Options Do I Have for Getting Rid of Tax Debt?
Once you’ve decided to resolve your tax debt, plans should be made to meet with a tax lawyer as early as possible to evaluate your financial status and determine which kind of solution is appropriate for you. There are different types available, including:
- Currently Not Collectible (CNC) Status. Both your duty to pay your tax debt and any contact from collecting agencies are temporarily suspended.
- Assistance with Federal Tax Liens/Levies. Helps protect your home, your income, and your other assets.
- Penalty Relief. After you’ve completely paid the amount you initially owed, any additional penalties you may have incurred due to missed or late payments are removed.
- Separation of Liability Relief. Removes your obligation to deal with an ex-spouse’s tax debt following a divorce.
- Offer in Compromise (OIC). It involves negotiating a smaller payment than what you owe to the IRS.
How Do I Qualify for an Offer in Compromise, and How Long Will it Take?
Regrettably, the IRS seldom gives Offers in Compromise (OIC) petitions. Each year, less than half of all applications are approved. This status is awarded to people who cannot repay their debts on time, are not undergoing bankruptcy, and/or whose tax bills may be inaccurate. Businesses, the same as individuals, may be qualified for this option, but filing necessitates the assistance of a professional. The IRS will typically reply to your case within 6 to 9 months. If you are denied, you have thirty days from the date of the decision to file an appeal.
What Kinds of Tax Debts are Dischargeable Under Chapter 7 Bankruptcy?
Income tax debt can be discharged (forgiven) if it is at least 3 years old, and the tax returns were submitted at least 2 years ago if you apply for Chapter 7 bankruptcy. These taxes should be assessed at least 8 months (240 days) before filing for bankruptcy, and no proof of fraud or evasion on your side is required. However, there are several loopholes in this procedure that an expert tax attorney must examine. Filing bankruptcy may not be the best option for resolving IRS debt since not all tax debts are dischargeable, especially if they’re less than 3 years old.
Find Resolution to Your Tax Debts Today
If you need a professional with experience negotiating tax debt resolutions with the IRS, contact a Wisconsin tax resolution attorney at Miller & Miller Law, LLC. Time is gold! Rather than delaying and procrastinating, make the decision to speak with someone at our law firm today. We provide FREE CASE EVALUATION before implementing the best tax plan for your case. Call us now!