If you have missed paying federal income tax or have been delinquent in some amount of income tax, you will likely receive a notice from the Internal Revenue Service (IRS) notifying you of that delinquency and the compound interest that accrues daily and any other penalties that apply.
Because of the interest charge, it is often a good idea to pay the amount immediately and dispute that the calculation was in error or inaccurate. If you find yourself in this circumstance, you may want to give us a call first at 724-216-5180.
John A. Cochran, Esq. is an experienced tax attorney and a CPA. We can determine if the notice is accurate and how you can resolve the issue, or if the IRS is mistaken. We help develop the evidence to prove your claim.
Tax Debt Collection
The IRS is responsible for collecting a staggering amount of taxes. They are efficient, and they can be ruthlessly methodical when they believe a taxpayer has made an underpayment of their tax obligation.
To avoid the most draconian collection methods, we’ll help you determine which form of payment works best in your circumstance.
- Installment agreement: An installment agreement allows you to pay your tax debt in monthly installments. There may be a setup fee with this method, and interest and penalties continue to accrue.
- Offer in Compromise (OIC): When your taxes are too great, and you cannot reasonably pay them, you may be able to negotiate an Offer in Compromise for a lesser amount. We help with this negotiation.
- Notice of Federal Tax Lien: This lien is automatically created when the IRS notifies you of your tax delinquency. You want to avoid the Notice of Federal Tax Lien, as that creates a public record of the lien and can impair your ability to obtain credit.
- Notice of Levy: This is very bad. The IRS has broad authority to seize virtually all of your assets, including wages, bank and financial accounts, Social Security benefits, retirement income and real estate and personal property. You do not want this to happen.
Don’t Let This Happen To You
Never ignore mail from the IRS notifying you of delinquent taxes. Whether they are in error or not, you need to make up tax payments. Our law office can help you with this process. We can communicate with the IRS on your behalf and prevent the situation from becoming a crisis for your personal or business finances.
Contact My Office
To schedule a consultation with a knowledgeable tax lawyer who can help you with issues involving how to obtain tax relief for delinquent taxes or collections by the IRS of tax debt, call John A. Cochran, Esquire, in Greensburg at 724-216-5180 or use my online form.