If you owe back taxes to the State of California and the IRS, you need IRS tax audit help, or you need help to stop wage garnishments and levies. then it’s in your best interest to retain an experienced tax attorney as soon as possible. With their assistance, you can take advantage of the best tax debt relief options and other resolution plans that are right for you. You can refer to an authoritative website like hillhursttaxgroup. com to learn more about each of them and how they work. For instance, if you owe less than $50,000 in back taxes, you may qualify for the IRS Fres Start Program that focuses on streamlined installment agreements (IA), Offer in Compromise (OIC), and the release of the federal tax lien.
If you qualify for the popular OIC program (e.g. you’re in financial hardship), you may have to wait 4-8 months for a fresh financial start. According to hillhursttaxgroup. com, over 150 taxpayers in Los Angeles have saved more than $4 million using the specialized services provided by Hillhurst Tax Group’s team of seasoned tax attorneys, CPAs, and enrolled agents. Other tax debt resolution options available to taxpayers that do not qualify for OIC include setting up an installment agreement (IA) and submitting a penalty abatement letter ( the latter is typically the right option for those with high net worth).
Taxpayers that owe more than $5,000 in back taxes should expect the IRS to file a tax lien, which can be removed only after the tax debt has been paid in full. Those who receive an IRS Notice of Levy should know that the IRS has the right to levy real property, personal property, as well as investments. According to hillhursttaxgroup. com, the IRS may also levy other assets such as bank accounts, rental income, licenses, dividends, retirement accounts, the cash loan value of life insurance policies, and more. An experienced tax lawyer will aggressively represent you before the IRS and assist you in settling your tax debt and stoping a levy by establishing an irrevocable trust.
If you’re looking for a top-rated tax lawyer in Los Angeles or surrounding areas, do not hesitate to get in touch with Hillhurst Tax Group by phone at 323-409-0819, hillhursttaxgroup.com or online by accessing the tax law firm’s website hillhursttaxgroup.com and filling the contact form to schedule a free office consultation during which you will understand the options available and the best resolution plan for you.