If you have back taxes that need to be paid, filing for bankruptcy may be one option for addressing this situation. Unfortunately, it is not always the right option for everyone. Each individual’s situation is unique and needs a solution that is tailored to suit their needs, goals and finances. To ensure you are protected and your case is being handled in the proper way, enlist the assistance of a skilled tax law and bankruptcy attorney at the Kridel Law Group.
Our tax law attorneys take income tax relief very seriously. We understand the impact that debts can have on an individual and family, and take the time to thoroughly assess your case to ensure a resolution, such as an offer in compromise, is suited to your best interests. Our firm has extensive experience with both tax law and bankruptcy matters, allowing us to take a multifaceted approach to your case.
Questions about offers in compromise or other tax debt relief? Contact an attorney at the Kridel Law Group in New York and New Jersey today.
Offers in Compromise
Sometimes, a different path must be taken to settle a tax debt. An agreement between a taxpayer and the IRS that settles the payer’s tax liabilities for less than the total amount owed is generally referred to as an offer in compromise. This option allows for a negotiated payment to often be paid in a lump sum. This payment is often much less than what is actually owed. Once the lump sum is paid, the matter is settled and closed in total.
Each case is fact specific and our attorneys must analyze each client’s situation on a case- by- case basis. Generally, an offer in compromise will not be accepted unless it is presented in such a way that the IRS believes that the offer is in its interest to accept. There must also be no serious collection impediments should they not accept an offer.
Contact a Bergen County Lawyer for IRS Offer in Compromise Representation
To learn more about how we can help you deal with IRS tax debts, contact an attorney at the Kridel Law Group. During your consultation, we can evaluate your situation and determine the best approach to take. Call us today at 973-470-0800.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.