Houston Tax Lawyer

If you have an outstanding IRS debt, you may be able to resolve the debt for much less than you owe. The IRS has ways to allow hardworking people like you pay a portion of their debt and get back on track with a clean slate. One of the ways that you may be able to resolve your debt is by making offers in compromise. This is where a knowledgeable Houston tax lawyer can help.

The offers in compromise program exists in order to help taxpayers who can’t pay their entire debt. Instead, they’re allowed to pay a portion of what they owe and forgive the rest. How much you must pay depends on your income and several other factors. If you qualify, an offer in compromise can be a good way to make things right with the IRS.

When you owe the IRS,  a Houston tax lawyer at Cantrell & Cantrell can evaluate your case in order to determine if you qualify for an offer in compromise and if it’s the best option for you. To qualify, you must be current on filing your tax returns. You must not have the assets or income available to pay your debt even if you make installment payments.

One reason that you might consider making an offer in compromise is if there’s a question about your tax liability. The IRS might agree to the offer in order to resolve the dispute about your liability. Because the IRS sees an offer in compromise as a practical way to resolve disputes and collect as much as they can in honestly owed taxes, they may be willing to resolve the disagreement this way.

You must prepare and submit the appropriate forms based on the nature of your request. Working with a legal team to prepare the paperwork and supporting documents can ensure that your application is successful the first time. They can help you avoid the stumbling blocks that can stand in the way of getting your application approved. If you have an outstanding IRS tax liability, contact the legal team at Cantrell & Cantrell to begin working on your case.

If you have questions or need more information about Tax litigation,  Tax and estate planning,  or IRS exams , contact our experienced tax attorneys right away.