Tax season is here. That's right -- in only a few short months (about
three to be exact), income tax returns for the 2017 tax year will need
to be filed, unless a taxpayer has filed for an automatic six-month extension.
Sometimes, for any number of reasons, a taxpayer will end up owing significant
tax liabilities. The Woods Law Firm, LLC can help you obtain tax relief
in Connecticut. We assist delinquent taxpayers throughout the state in
addressing serious tax debt, helping them to land on solid financial footing.
One solution to a tax conundrum involving large amounts of IRS tax debt
is to pursue an offer in compromise (OIC). This offer can allow you to
settle your tax liability for less than the original amount you owe, sometimes
for pennies on the dollar. This is especially helpful for people who have
low incomes and few assets. There are 3 ways to negotiate an offer in
compromise with the IRS. They include:
Doubt of Collectability: Taxpayer is not able to pay the full tax debt.
Doubt of Liability: Taxpayer asserts that they do not owe the debt.
Effective Tax Administration: In fairness, the amount of the tax liability owed must be compromised,
even if the taxpayer can pay the liability in full. Effective tax administration
is the least used negotiation and is rarely accepted.
We offer a free consultation. Speak with our lawyer to find out which negotiation
method best suits your situation. Don't put off addressing tax debt
-- there can be significant and unpleasant consequences. Call us at 888-272-2718 today!