If your situation just falls outside the parameters of the offer in compromise, penalty abatement, or innocent/injured spouse programs, then the IRS and the state will still accept a repayment of your tax liabilities on an installment basis, if we can convince them that that’s the most effective and efficient way of collecting the tax. Depending on your situation that may be what we seek out, but this is typically a case-by-case basis.
Higher tax liabilities can often require significant negotiating to prevent a levy or seizure from taking place — installment agreements relating to taxes under a certain dollar amount are usually easier.
If we are able to secure you a payment plan that the IRS agrees to then we can move into what kind of payment plan you are participating in.
Short Term Payment Plan
A short-term payment plan is an agreement with the IRS that you will be paying your taxes owed within a certain period of time. If the IRS agrees to this then you may not be liable for a user fee.
Payment Plans Costs and Fees
While we can try to avoid you paying payment plans costs and fees, there may be cases where the IRS will add a tax bill to your status despite our best abilities to avoid this situation. We will work with you throughout this process with our tax resolution services.
Releasing Tax Liens and Levies
As a preliminary step in using an offer in compromise, installment agreement, or other program, we often need to act quickly in order to delay, avoid, or release their powerful lien and levy capabilities. This can often be accomplished if we can explain that our offer to them is the most effective and unobtrusive form of satisfying the tax liability.
After this, the IRS may choose one of the following options based on your situation.
Discharge of Property
A discharge will remove the lien from the property itself. If this option is available, we may try to pursue it.
The subordination option does not remove the lien from your case but will allow other creditors to move ahead of the IRS, and finding a loan or mortgage becomes a more realistic option.
When a withdrawal occurs, the IRS will not compete with other creditors for your property, but the amount due still must be paid in full.
No matter the options given to you, we can try to get you the best possible result. We will always work with you through this process.
Trust Fund Penalty Relief
If you have been assessed as “the responsible party” for failure to pay employment taxes and you’re questioning the accuracy of the IRS or state’s assessment, then let our law firm intercede on your behalf. If you have been given this heavy-handed tax and you fail to respond in time, then you will be saddled with the most onerous of all tax liabilities. It can never be discharged in bankruptcy and is attended by significant interest and penalties. You must decide to end your tax problems with the IRS and State of Hawaii. No one else can decide for you.
Our firm can assist in ending the misery, but you must take the first step by contacting our Honolulu tax resolution help attorney or telling us about your situation online. We can help you explore all the choices and options with our tax resolution services.