When facing tax issues, it is important to seek the assistance of a Tennessee IRS Tax Settlement lawyer to ensure that your rights and interests are protected. A tax attorney or enrolled agent can handle state and federal matters, as well as provide guidance on complex tax laws. They can also help individuals file tax returns and negotiate a debt resolution with the IRS.
If you owe back taxes, the Tennessee Department of Revenue may pursue collection actions against you to collect the outstanding amount. The state also imposes failure to file penalties, which are a percentage of the unpaid tax balance for each month or part of a month the amount remains unpaid. It is best to consult a Nashville tax attorney who specializes in these matters to help you avoid any additional penalties.
Individuals can face an IRS audit for a variety of reasons, including mathematical errors on a tax return or failing to report foreign accounts. It is important to consult with a tax attorney promptly upon being notified of an audit so that they can protect your rights and interests.
A Memphis tax settlement attorney can work with the IRS on your behalf to reach a fair tax resolution. Tax debt settlements can include an installment agreement, where you pay the tax owed over time, or an offer in compromise, which is an arrangement in which you settle your tax liability for less than what you owe. A qualified professional can help you determine whether you are eligible for an offer in compromise and prepare all necessary forms and documents.
Those who are in serious financial trouble may be subject to an IRS tax lien, which is a legal claim against property that the government uses to secure the payment of taxes. If you have a tax debt in excess of $40,000, the IRS can place a tax lien against your property to prevent you from selling it or refinancing. This can severely impact your ability to sell your property or borrow money in the future, so it is crucial to work with a tax attorney.
The IRS can garnish your wages if you fail to pay your tax debts. Wage garnishment is a harsh way to collect the money that you owe, and it can significantly affect your quality of life. A tax settlement attorney in Memphis can help you negotiate a reasonable payment plan or reach an acceptable settlement with the IRS to stop wage garnishment.
The top-rated tax relief firm Defense Tax Partners has an A+ rating from the Better Business Bureau and offers both attorneys and enrolled agents to assist clients with a variety of IRS matters. They can resolve issues ranging from unfiled tax returns and incorrect filings to wage garnishment and small business tax matters. They can even help with complex matters like filing a petition for equitable spouse relief. Moreover, they can save you thousands of dollars through a reduced IRS tax debt settlement.
