How the Lowrey Law Firm can Help with my Tax Problem
Use the Law to Legally Reduce or Eliminate your Back Taxes
The IRS is unrelenting and almost never gives up on collecting back taxes. Notice that we said "almost never". The Lowrey Law Firm brings our skill and knowledge of the law to advocate for our clients to obtain relief. Below is what you need to know about the most common issues.
Offer in Compromise
An offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can't pay your full tax liability, or doing so creates a financial hardship. The IRS will consider your unique set of facts and circumstances:
- Ability to pay;
- Expenses; and
- Asset equity.
The IRS generally approve an offer in compromise when the amount offered represents the most we can expect to collect within a reasonable period of time. The IRS will consider all other payment options before approving an offer in compromise. To be eligible all prior year tax returns must be filed. The Lowrey Law Firm can assist you with meeting the eligibility and presenting your best case for approval.
Remove Tax Liens
A federal tax lien is the government’s legal claim against your property when you neglect or fail to pay a tax debt. The lien protects the government’s interest in all your property, including real estate, personal property and financial assets. The lien may be automatic if you fail to pay after the IRS enters your balance due it its records and sends you a bill. The Lowrey Law Firm can assist you in removing the tax lien by presenting a case to the IRS to withdraw the lien, or subordinate the lien to allow you to obtain a loan or mortgage, or a discharge, removing the lien from specific property.
To pay a tax bill, the IRS may seize your wages and is called a wage levy. Each payday, a portion of your wages will sent to the IRS. The Lowrey Law Firm can assist in stopping the levy by presenting your case to the IRS to release the levy or negotiate other arrangments to pay your overdue taxes.
Innocent Spouse Relief
Spouses filing a joint income tax return are equally responsible for paying the taxes due. Under some circumstances one of the spouses may be relieved of responsibility for paying tax, interest, and penalties if your spouse (or former spouse) improperly reported items or omitted items on your tax return. Generally, the tax, interest, and penalties that qualify for relief can only be collected from your spouse (or former spouse). The rules for qualifying for innocent spouse relief are complex. The Lowrey Law Firm can help you to navigate the requirements and present your best case to the IRS on your behalf.
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