Being hit with a heavy tax burden can take the wind out of your sails. You, your business, or your spouse may owe a significant tax debt, and you are uncertain how you will be able to pay. Procrastinating only makes the problem worse. Don’t ignore your tax debt, thinking it will go away. Rather, take action with the help of an experienced Oklahoma City tax attorney who can help you find solutions to your tax collection problems. For more than 40 years, attorney Joe Shannonhouse has been helping Oklahoma taxpayers with their tax collection issues.
Tax Collection Options
If you are hit with a tax bill you can’t afford to pay, relief may be available to you when you seek representation from a skilled tax attorney. If your tax burden is the result of a bad audit, you may be able to appeal the IRS action. With careful evaluation by a lawyer well-versed in tax law, you may discover that the IRS has incorrectly levied taxes against you that you do not owe.
If you do, in fact, owe back taxes, penalties, or a tax debt that is beyond your ability to pay, an Oklahoma City tax attorney can help you determine your options for alleviating your stress and reducing the pressure of an unpaid tax debt.
Some tax relief options that may be available to you include:
- “Currently Not Collectible” (CNC) Status – Postpones tax collection efforts while the taxpayer is unable to pay the tax debt
- Innocent Spouse Relief – Separates a spouse from his or her spouse’s or ex-spouse’s tax burden
- Installment Agreements – Allows the taxpayer to pay back taxes and tax liability over time, rather than in one, virtually impossible lump sum
- Offer in Compromise (OIC) – Provides the taxpayer the opportunity to settle the tax debt for less than he or she owes
- Penalty Abatement – Provides relief from tax penalties by examining the circumstances behind a taxpayer’s failure to file or failure to pay. Reasonable causes include death, serious illness, natural disaster, fire, incorrect advice from the IRS or a tax advisor, and others.
Mr. Shannonhouse can help you determine for which types of tax relief you may qualify. He can file the appropriate requests in order to maximize your chance of successful management of your tax debt and ease aggressive tax collection efforts of Federal and state tax agencies.
Tax Attorney in Oklahoma City
Tax collection relief is not automatically granted. Documentation and forms must be meticulously completed and procedures must be strictly followed. It is in your best interest to seek tax collection relief with legal advice from a highly qualified Oklahoma tax lawyer. For an explanation of your options, call attorney Joe Shannonhouse at (405) 415-1700.