If you received a tax lien or levy from the IRS, you may feel powerless to change the situation. The amount may be more than you believe you owe or simply money you don’t have. But the situation isn’t as hopeless as it may seem. If you’re facing a tax lien, your first step should be to contact The Bronson Law Firm PC in Plano, TX. Tax attorney Bill Bronson will help you pursue one of the following options.
Challenge the Decision
If you believe the IRS has made a mistake in calculating your taxes, you can appeal the decision. The IRS has a separate appeals division that will evaluate your petition, make a final decision, and explain it in written form. If you still believe your case hasn’t been handled properly, you even have the right to bring the matter to court.
Offer a Compromise
If you do owe the amount the IRS claims but can’t reasonably pay it, you may be able to settle the debt by offering only part of the total. The IRS is not interested in pursuing debts that will never be paid, and if they determine your compromise represents the most they are likely to collect in a reasonable time frame, they will likely accept.
Set Up a Payment Plan
Once again, the IRS has more interest in receiving payment than in punishing you. If you can’t pay the amount owed in a lump sum, the IRS will often arrange payment plans that allow you to discharge the debt over time.
A tax lien is a major inconvenience, but you have options to deal with it. For help communicating effectively with the IRS and reaching an arrangement that is right for you, contact The Bronson Law Firm PC today. You can reach Bill Bronson’s office at (972) 770-2660 or contact the firm online.