When faced with mounting tax debts, the burden of penalties and interest can quickly become overwhelming. For many people, paying off the debt in one lump-sum payment is simply not feasible.
However, there is a solution that offers relief and a path to becoming tax compliant.
At McCauley Law Offices, P.C., located in Chester County, Pennsylvania, we assist taxpayers across the nation in negotiating installment agreements with the IRS. Our goal is to help you regain control of your financial situation, avoid IRS seizures, and achieve tax compliance.
Make Your Tax Debt Manageable:
Our experienced attorneys at McCauley Law Offices, P.C. will work with you to negotiate an installment agreement, also known as a payment plan, that suits your financial circumstances. By breaking down your tax debt into smaller, more manageable payments, you can gradually become tax compliant without facing undue financial strain.
Prevent IRS Collection Actions:
The IRS possesses powerful collection tools, such as wage garnishment, property foreclosure, and bank account seizures. By setting up an installment agreement, you can proactively prevent these intrusive collection actions and regain peace of mind.
Understanding Installment Agreements:
Under an installment plan, you will be provided with a specific timeframe to repay your tax debt. If your tax debt is less than $50,000, a streamlined agreement can be utilized. This straightforward plan allows you to repay your tax debt over a 72-month period.
For tax debts exceeding $50,000, negotiating a nonstreamlined installment agreement becomes more complex. In this case, the monthly payment amount will be based on your ability to pay, which requires a comprehensive analysis of your income and expenses.
Negotiating Fair Installment Agreements:
It’s important to recognize that the formulas employed by the IRS often favor the service over the taxpayer. However, our skilled attorneys are well-versed in the intricacies of the IRS system. We will diligently negotiate on your behalf to secure a fair installment agreement that ensures you are not burdened with payments beyond your means.
Delaying action will only lead to further accrual of interest and penalties, exacerbating your tax debt situation.
Take action now.
A taxpayer, relying on a big-box company for assistance, was burdened with an installment agreement requiring monthly payments exceeding $6,000. Though affordable, the taxpayer expressed a preference for a lower amount. Unfortunately, the company claimed it had secured the best deal possible and dismissed the taxpayer’s concerns. Seeking clarity, the taxpayer turned to McCauley Law office, where we immediately recognized the agreement’s inadequacy. After just a few weeks of representation, our attorneys significantly reduced the installment agreement to approximately $2,300 per month, freeing up vital cash flow. Additionally, we pursued penalty abatement, saving the client over $40,000. At McCauley Law office, we prioritize your best interests and charge flat fees. As zealous advocates for our clients, we strive to secure not just the easiest but the most favorable agreement with the IRS. If you require representation, contact us to regain control over your tax liabilities.