Resolving Your Tax Difficulties

It is no secret that over the last couple years, more and more companies have been closing due to the tough economy. As a result, many individuals have lost their jobs, forcing these individuals into a compromised financial situation. With worries about being able to keep food on the table and a roof over your head, it's no wonder that sometimes paying taxes becomes a low priority. When your tax situation gets out of hand, it's a good idea to seek out legal representation to assist you in facing the IRS or other collection agencies.

The Role of the IRS

The IRS is an institution established for the sole purpose of ensuring that every individual pays the taxes he or she owes the government. If an individual fails to pay, the IRS will employ a number of methods in order to receive payment, including tax levies, wage garnishment, and the seizure of property and monetary assets. Despite these sometimes overzealous tactics, the IRS does have a few options designed to help individuals who are having financial difficulties, pay their taxes.

The Installment Agreement Program allows individuals to pay off their back taxes in monthly installments. Should an individual be in extreme economic duress, he or she may seek out an Offer of Compromise. Under an Offer of Compromise, you will pay a small percentage of what you owe the government in exchange for the forgiveness of your remaining tax liability.

Assistance with Your Financial Struggles

Whether you are seeking out an Installment Agreement Plan or an Offer of Compromise, you will need knowledgeable legal representation by your side to advocate on your behalf. An attorney from Price Law Group will work closely with you to review your economic situation and develop a strategy to correct your financial woes. Should your case require it, their firm will go head to head with the IRS. You should not have to pay the price for financial difficulties that were outside of your control.