Long Island Tax Negotiation Lawyer

What is tax negotiation?

If you are struggling with a substantial amount of tax debt, there are options available to you that may serve to reduce or eliminate the debt. Depending on the type of tax, and its age, you may be able to resolve the debt through Chapter 7 or Chapter 13 bankruptcy. If your tax debt is not eligible for discharge under bankruptcy, you may be able to pursue tax negotiation, which involves settling the debt for less than what is owed. A Long Island bankruptcy lawyer can thoroughly review your tax situation and advise you as to the best course of action for getting rid of your debt.

The method most frequently used in tax negotiation is the Offer in Compromise (OIC). This is an agreement made between a taxpayer and the Internal Revenue Service (IRS) to settle tax debt for less than the full amount owed. The lowered amount is paid either in a lump sum, or in a payment plan that has been pre-approved by the IRS. It is important to note that the IRS is not obligated to accept an OIC. They evaluate each case individually, and come to a decision only after a thorough evaluation of the tax that is owed, and the taxpayer's financial situation.

Tax Negotiation Attorney in Long Island

Blutter & Blutter provides all manner of debt relief services to those experiencing financial trouble. In addition to assisting individuals in their bankruptcy cases, the firm's attorneys represent taxpayers who are unable to eliminate their tax debt through bankruptcy. If you possess unmanageable tax debt and are unsure how to proceed, the firm will provide you with extensive help that is designed to free you from your financial liabilities.

Contact a Long Island tax negotiation attorney for information about settling your tax debt with the IRS.