Being over your head in any kind of debt is a painful experience for just about anyone. Being over your head in Tax Debt, though, brings unmatched pressures. Virtually without warning, and usuallywithout the necessity of a court order, the IRS or a state taxing agency can:
*Seize your bank account.
*Garnish your wages (or your accounts receivable if you’re self-employed).
*Levy on your home, car or business property, and sell it right out from under you.
*Keep your tax refund.
Truly, for those with tax debts, there is no place to hide! But with proper representation, tax problems can be solved! Here are just a few of the ways how:
Offers in Compromise Large tax debts do NOT necessarily have to be paid in full. Both Federal and State laws recognize that people deserve a break if they cannot conceivably pay back a tax debt within several years. In that situation, taxpayers may make an Offer in Compromise – that is, taxpayers may offer the IRS or state taxing agency as little as pennies on the dollar in full satisfaction of their outstanding tax debt.
Offers in Compromise require the completion of detailed forms and the assembly of numerous financial records. Furthermore, the IRS and state taxing agencies have strict guidelines for what constitutes an acceptable Offer in Compromise. You need to work with someone who knows the process, and knows your realistic chances for success. At SERENITY LEGAL SERVICES, P.C., we know how to get Offers in Compromise done, and accepted!
Innocent Spouse Relief Sometimes the one you trust the most – your spouse – leaves you "holding the bag" for tax debts you don’t deserve. Federal and state laws recognize that an individual should not necessarily have to pay taxes where:
*Their spouse incurred the tax liability through fraud, and kept it from them;
*Their spouse was supposed to pay taxes they both rightfully owed, but secretly used the money for another purpose; or
*Their former spouse agreed to take full responsibility for a tax debt in a divorce case, but then failed to pay the tax bill as promised.
At SERENITY LEGAL SERVICES, P.C., we have helped many "innocent spouses" escape the tax holes their spouses or ex-spouses left them in. We can help you, too, avoid suffering for the sins of someone else.
Instalment Agreements In still other cases, a taxpayer can, and should, pay his or her taxes in full, but needs time to do it. The IRS and state taxing agencies have detailed guidelines for the preparation and allowance of proposals to pay off taxes over time, in instalments. At SERENITY LEGAL SERVICES, P.C., we will put together your instalment proposal and fight for its acceptance by the taxing authority. We will see to it that, if you do have to pay your taxes back over time, you can pay them on a schedule that you can live with.
Audit Defense and Appeals Occasionally, an individual really doesn’t owe any taxes, but the IRS or state taxing agency doesn’t agree. At SERENITY LEGAL SERVICES, P.C., we can help you defend your position to the taxing authorities, and beyond. We will pursue your rights through the internal appeal process, and even take your case to court if need be. There are numerous avenues to pursue where a taxpayer is wronged by a taxing agency. Let us put our vast skills and experience to work following those paths for you.
Unfiled Tax Returns Sometimes an individual being pursued by the IRS or state taxing authority actually doesn’t owe taxes, and may even be entitled to a refund, but he or she doesn’t know it because they haven’t prepared or filed the appropriate tax returns. At SERENITY LEGAL SERVICES, P.C., we can help you file all your old tax returns, even those going back several years. And don’t worry that you no longer have the information needed to prepare the returns – we will help you get all of your income and tax withholding records from the appropriate authorities.
Taxpayers With Homes/Families Abroad Many American taxpayers living abroad don’t realize that they are entitled to special tax treatment under Federal and state tax laws, and that the families they create abroad entitle them to still further tax breaks. At SERENITY LEGAL SERVICES, P.C., we are especially experienced in working with taxpayers who live overseas. We will help you qualify for your Foreign Earned Income Exclusion, and also help you register your foreign-born spouses and children with the IRS, so that you may claim all the exemptions and deductions allowed to taxpayers with families.
Bankruptcy "Tax debts don’t go away in bankruptcy," you’re thinking to yourself. Surprise! Many of them will.
For instance, income and sales tax debts usually can be erased in Chapter 7 bankruptcy, or substantially reduced and paid off over time in Chapter 13 bankruptcy, if they are:
*At least three (3) years old (calculated from the due date of the return, including any extensions granted to the taxpayer);
*Based upon taxes for which the return was filed at least two (2) years before the bankruptcy case is commenced; and
*Based upon taxes which were assessed at least two hundred forty (240) days before the bankruptcy case is commenced.
The analysis of whether or not tax debts are dischargeable in bankruptcy requires specialized knowledge and experience. At SERENITY LEGAL SERVICES, P.C., we have both. Let us put our special skills to work for you.
SERENITY LEGAL SERVICES, P.C. 42524 Sherry Lane Murrieta, CA 92562 Tel. 951-304-3720