A Lowell Tax Collection Attorney on the Issues of Tax Collection
Few financial matters are as stressful as an IRS collection action. Many issues can give rise to the attention of the IRS, but one certainty that a Lowell tax collection attorney can attest to is that an individual who finds himself the focus of such an investigation needs to understand how the IRS works.
Circumstances That Give Rise to Collection Actions
Each situation is individual, but commonly reported by a Lowell tax collection lawyer include:
• A tax audit
• Unfiled tax returns
• Failure to withhold or pay tax on early IRA or pension distributions
• Payroll tax issues
• Estate inheritance issues
Whatever the reason, the IRS has ample tools in its arsenal to collect the money it believes it is owed.
Methods the IRS Employs
The IRS will find the source of assets the individual in question owns or controls. Most often a Lowell tax collection attorney will see clients report wage garnishments, levies and liens, leaving many unable to conduct business, or in fact to pay recurring expenses. There are, however, options.
The Tools a Lowell Tax Collection Attorney Employs
The first priority is to gain a full understanding of the extent of the situation, get the individual current on present tax issues and craft a plan for dealing with any deficiencies. Some options available to your Lowell tax collection lawyer include:
• Offers in Compromise
• Negotiating affordable Installment Agreements
• Establishment of a currently not collectible status
• Relief offered through bankruptcy
The Benefit of Being Proactive
Many people know or suspect they are the subject of an IRS investigation prior to the initiation of any formal proceedings. It can be beneficial for your Lowell tax collection attorney to negotiate a resolution before any collection action occurs.
Seek the Legal Counsel of a Lowell Tax Collection Lawyer
The IRS has a great deal of power and is relentless. You need experience and knowledge on your side to level the playing field and provide you the guidance you need. Contact the Law Office of Bruce A. Gage, a Lowell tax collection attorney. Our office is conveniently located at 491 Dutton St. Suite 211 (Business Center, 3rd Floor) Lowell, MA 01854.