The IRS Won’t Always Tell You About These Alternative Solutions to Your Tax Debt in Utah

It’s surprising but true: the IRS will not fully disclose all of the alternative tax solutions available to you. Its sole job is to collect as much money as it can from you. If collection agents let you know of other tax solutions that could save you from having to drain your savings account, they will miss their goal of milking you dry.

As professional as the IRS agent working on your tax problem might seem, he wants to make you feel as if you can trust him so you do not seek out alternative solutions. That’s simply not fair to you.

When you want a way to get out of the tax debt that’s threatening your family, these alternative solutions might help.

Filing an Offer in Compromise

This is often the first alternative tax solution many people look at. If you owe a significant amount of back taxes, you might never realistically be able to pay it all back. The IRS knows this, and you know this.

Filing an Offer in Compromise (OIC) is and agreement made with the government that shows you both acknowledge and agree on this. It allows you to pay back less than you owe. If you qualify under one of these three tax situations, you could be eligible to file an OIC:

  • Doubt as to collectability
  • Doubt as to liability
  • Effective tax administration

Working with Utah tax attorney Jordan Wilcox, you will get a detailed analysis of your current tax situation. During this analysis he will let you know if you are eligible under any of these categories and the next steps you’ll need to take to file.

Claiming Innocent Spouse Relief

In a marriage, you trust your spouse with your finances. When he or she says that you do not owe anything, or you owe very little, you believe it. Then, when the IRS comes knocking on your door, you are shocked. Now you are in the desperate situation where you are held responsible for tax burden you never knew you had.

In this case, you are an innocent spouse. The government offers relief to innocent spouses who meet certain criteria:

  • If you filed your taxes jointly.
  • If your spouse or former spouse did not report all of your income and deductions correctly.
  • If no fraud was committed between you and your spouse.
  • If you could not know that there was an issue.
  • Your spouse left you in a position where you cannot fairly be held responsible for his or her actions.

Filing Based on Hardship

It’s rare that the IRS takes hardship into consideration, but in some cases, it must. If you struggle to meet your daily expenses as it is, or if paying back your taxes will leave you in a devastating financial position, you might be able to escape partial tax payment due to hardship status.

To file under hardship status requires a lot of paperwork and documentation. Talk to your Utah tax attorney to learn more about what you need to show in order to be able to file under this alternative solution.

Release Levies or Wage Garnishments

Has the government put a levy on your home? Are they garnishing your wages? You might be able to put an end to that.

The process to release levies and wage garnishments is not easy. Talk to your tax attorney to learn more about how to do this the right way in your situation.

Release Tax Liens

The government does not afford you much time to pay back your taxes. In many cases, you could have only 10 days before the IRS puts a lien on your property. This can do major damage to your credit score. Contact a tax attorney to get this released as soon as possible, with as little damage as possible.

Avoid Paying Penalties

The penalties put in place by the IRS are high. Penalties can mount higher than your tax debt and can empty your family’s savings account. Talk to your tax attorney to determine if you qualify for what the government calls “penalty abatement” so you can avoid extra debt.

Filing for Bankruptcy

Many people are forced to file bankruptcy to get out of their tax debt. While on the surface this solution seems like it could be effective, it is important to keep in mind the aftermath of filing for bankruptcy: long-lasting damage to your credit and financial history.

Before you submit your paperwork and file for bankruptcy, talk to a tax attorney to determine if there is a better solution for you.

Contact Us for Alternative Solutions to Your Tax Liability in Utah

Don’t trust the IRS to tell you everything you need to know about how you can get out of your tax debt. Take caution working with large national tax firms who will usually only help you file an Offer in Compromise without taking all of the options in your case into consideration.

Call the Law Offices of Jordan F. Wilcox, PC to put an aggressive tax attorney on your side who will give your case the personalized attention it needs. Call 888-689-5744!

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