Three Steps To Handle Your Tax Debts In LA County

Do I Need A Tax Resolution Attorney?

Chances are, if you are reading this, you probably do. But let us break down why and in what circumstances a tax resolution lawyer can help. If you owe back taxes, especially if the IRS or state authorities have sent you multiple reminders about tax liability or begun to take action against you, your tax debt situation has become serious enough that you should strongly consider calling a lawyer.

It does not matter if the taxes you owe are for a business you run, a property you own, or are owed on personal income or even an inheritance, the government can be quite insistent about recovering it. Worse, the damage it can do in the process to your income, future, and wealth can be considerable.

The IRS and the California State Government can:

• Garnish your wages,
• Put a lien on your home or business, which can result in foreclosure,
• Levy your bank account, taking back taxes from your assets directly.

If paying back those taxes would cut into your ability to thrive, or even survive, then it's time to talk tax resolution with a lawyer like Stephen Burton. Fortunately, there are three steps you can take with a tax resolution attorney’s help to get out from under tax debts.

Three Key Tax Resolution Steps

Tax resolution is not just one tool or strategy; it is a whole category of options you can use to tackle back taxes and tax debts. The sheer diversity of options and problems that come up in the field is one of the main reasons why you are unlikely to have much success on your own. However, with a skilled attorney’s guidance, the following three steps are often all it takes to break down and break through back tax problems in LA County.

Step 1: Assess The Situation

One of the main reasons so many Los Angeles County families end up behind on taxes is disorganization and a lack of information. You might not have realized taxes were due, simply forgotten to pay, or gotten increasingly behind as you prioritized other necessary payments.

As a result, the first step toward a solution is always to sit down and gather every shred of financial information you can, from pay stubs to bills and other debts for individuals, to income projections and revenue records for a business. The more you can bring to a lawyer, the faster someone like Stephen Burton can help you identify the severity of your situation and the right path to tax resolution.

Sometimes, a simple solution may present itself that requires neither sacrifice nor difficult negotiations, and it would be a shame to miss that by skipping step 1.

Step 2: Negotiate With The Government

Whether it is the state government or the IRS itself, no government entity wants to see you lose your business or get kicked out of your home, at least, not over back taxes. These government agencies want to recover as much as they can of the debts you owe but have been known to show some flexibility when it comes to arranging repayment plans.

With the help of a skilled lawyer, one or more of the following may be included in a repayment plan you offer to the IRS or the California government:

• Installment plans allow you to pay back a large amount over an extended period, lessening the burden on your income.
• A compromise offer can help you pay back less, as long as you pay back some of the taxes you owe.
• You can remove the threat of foreclosure and waive some obligations with a tax and lien release.
• If you have had penalties or fees added, you may be able to get them abated or removed.

Any and all of these tools can help you reach an agreement with the tax authority. As long as that agreement is accepted and you are able to follow through on your commitments, you can avoid further penalties and actions against your Los Angeles County property, business, or accounts.

Step 3: File For Bankruptcy

If no deal can be made, or your attorney advises you that it is not even worth trying, bankruptcy can be a final option for resolving your tax debts. Chapter 7 bankruptcy, for example, can get older back income taxes discharged and removed completely. Chapter 13 or 11 bankruptcy can allow you or your business to get some tax debts discharged after successfully following a payment plan for two to three years.

In addition, all bankruptcy filings come with an automatic stay, which blocks even the IRS and other government entities from seizing your property, garnishing your wages, or taking other such actions against you. This means that filing for bankruptcy can buy you time to figure out other solutions or explore options like negotiation when time is short.

Finally, by helping you get rid of other debts such as credit card bills or medical debt, bankruptcy can lower the overall burden on your income, allowing you to manage current and future taxes with greater ease. So, while it is a more drastic tax resolution option, it can prove to be a powerful tool for getting a fresh start.

Your Los Angeles Tax Resolution Guide: Stephen Burton

Burton Law Offices | Empowering individuals and businesses in Los Angeles County with tax resolution relief.

If you are tired of unending tax reminders, afraid of impending garnishments or liens, or simply far behind on your taxes in Los Angeles County, you can start down the path to relief today. All you have to do is take the first step and reach out to tax resolution lawyer Stephen Burton, who will help guide you through the steps above until your tax nightmares are nothing but a bad memory.

To schedule a quick and free initial consultation, call (818) 514-1355 or contact the firm online today. It will take less time than the morning commute, and you can do it from your bed when insomnia strikes. The sooner you do, the sooner you can get yourself, your business, and your family out from under the shadow of taxes and other debts.