We often hear of tax relief in connection with disasters. Individuals who have lost their homes, their businesses, their jobs or anything of great value due to a major disaster like a hurricane, tropical storm or earthquake are entitled to tax relief. In the U.S. an area has to be declared a disaster area by the President before tax relief can be made available to the people in the area. However, debt relief is not just for disaster victims.
There are other circumstances that allow individuals to qualify for IRS tax relief. For example you may not be able to pay the taxes due by April 15th and need an extension, or you have been forced into a lower income bracket and will have difficulty paying the full amount of your taxes. A serious health issue, death in the family, or divorce may have drastically changed your financial status. There are several types of tax relief programs offered by the IRS. IRS tax attorneys in Alabama can determine if you meet the social and financial criteria set by the IRS.
If you have an existing tax debt, you may qualify for debt relief to help you settle your IRS tax obligations right away. You can prevent an existing debt from ballooning into thousands of dollars as daily interest adds to the balance. You may owe the IRS $10,000 or even more than $50,000 and still qualify for the IRS “Offer in Compromise” program as long as you are able to fulfill specific requirements. This program, which requires you to pay only a portion of the total taxes owed, will be considered by the IRS if there are no other options available for you to pay your tax debt. A tax attorney can determine your best option.
If you are struggling with outstanding tax debt and do not know how resolve your tax problems, call our Alabama tax attorneys. With their knowledge of IRS regulations and their experience in dealing with IRS lawyers, they can guide you in obtaining the debt relief program that is best for you. They can also file the necessary returns and documents and represent you in meetings with the IRS if necessary. Our Alabama tax attorneys will not only help you get debt relief, but they will ultimately give you financial freedom and peace of mind.
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