Tax debt to the IRS is no laughing matter. In fact, failing to resolve outstanding tax bills could result in harsh fines. The good news is that there may be steps you can take to assist you in getting out of debt. However, because of the complexities of tax legislation, it might be difficult to understand your options. Fortunately, you can seek assistance from a tax resolution attorney.
Here are the top reasons to engage a tax lawyer right now.
Safeguard Your Interests
The primary benefit of hiring a tax relief lawyer Los Angeles is to protect the client’s interests. You can rely on a tax attorney’s professionalism after engaging them since they will go to any length to protect your interests. One thing to remember is that the tax attorney you choose cannot go against the client. This is legally binding on the attorneys, and they will not be able to use the material provided by the clients against them in the future.
As a result, you should be forthright when speaking with the tax lawyer. Reputable tax lawyers highlight how to deliver supreme satisfaction to their clients. They also demonstrate their commitment and honesty by not disclosing any sensitive client information.
Streamline and Sort Out Your Outstanding Tax Debt
Tax attorneys understand your rights and the many debt settlement options available to you to minimize your overall debt. They will also bargain on your behalf. A tax relief lawyer Los Angeles can streamline your agreement’s terms and ensure you make payments for a shorter length of time. For example, you could qualify to pay a partial settlement of your overall tax burden.
You may also be eligible for an installment agreement, which allows you to pay off your debt over time. Your attorney will also look into the statute of limitations for your debt, bankruptcy options, and other strategies that may be available to you.
Keep Your Credit Score Safe
The IRS does not report your tax debt to credit reporting agencies. If you fail to pay your taxes, your debt will become public knowledge and appear on a credit report. As a result, you may receive a worse credit score. A tax relief lawyer Los Angeles can assist you in avoiding this issue entirely by entering you into a payment agreement with the IRS.
If a lien is already set up, your attorney can negotiate to have it dismissed.
Protect Your Wages, Bank Accounts, and Property
The IRS has several techniques for collecting overdue taxes. A bank account levy, for example, instructs the bank to remove funds directly from your account. In any of these scenarios, the IRS will first provide you with notice and an opportunity to make payments. Your assets will be at risk if you do nothing and ignore all attempts to resolve the debt.
The best way to protect your salary, accounts, and property is to address your tax debt immediately and engage a tax relief lawyer Los Angeles.