Tax debt is usually where one neglects to pay taxes on time as demanded by the law. Tax debt relief is basically a plan put in place in order to reduce or abolish tax arrears. One can also consult a tax debt lawyer for advice on what steps should be taken, and he will most likely advise you to settle your tax obligations by getting a tax settlement. A tax settlement is a repayment plan in which the taxpayer pays taxes in lump sum or in installments. The IRS appreciates this repayment plan as it helps the agency recover some of its money, and it is therefore, a very attractive option for many taxpayers.
The main function of Grand Junction Tax Attorney is to help you avoid penalty related to not paying taxes. In case of criminal proceedings brought against you for failure to pay the required tax dues, an experienced lawyer will be able to protect your rights. He may be able to get you a reduction in penalties or even get you out of jail. It is important that you take these matters into your own hands as otherwise you may have to face the consequences decided by the court. The consequences may be loss of license, public reporting restrictions, fines, counseling, and probation.
The other function of a tax debt attorney is to reduce the amount of penalties that are imposed on you. This is not to say that the IRS does not have any right to impose penalties in case you fail to satisfy your liability within the required time. However, an experienced attorney will know all the relevant tax debt relief laws so that you do not end up paying excessive amounts of back taxes. In addition, your attorney will be fully aware of the options that are available for settling your tax debts.
One more important function that your tax debt attorney can perform is that of an arbitrator. This is where he acts as a mediator between you and the IRS. All matters regarding the payment of back taxes will be handled by your tax debt attorney through a negotiation process. You will be informed about all relevant information by your attorney before you proceed with negotiations with the IRS. He may even offer legal counsel to act as the champion for you during the case.
In case you are charged criminally for not paying your liabilities, your tax debt attorney will defend you in court. He will be responsible for protecting your rights and fighting for the best for you. He will also be representing you in any proceedings and will advise and assist you throughout in order to get you the tax debt help that you deserve. So if you are facing huge liabilities and if you feel that you are the victim of injustice, then it is time to contact a tax debt attorney now.
Now the question is how much should you pay back to the IRS? Your tax debt attorney will definitely tell you about the amount that you should settle for in return for tax liens and interest penalties being waived. He will tell you about all the consequences that will arise if you continue not to settle your liabilities. He will also tell you about the advantages that you can enjoy if you pay back the full amount. Make sure you ask your tax debt help about all these before taking any other action or decision.