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Timothy J. Trott.
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HAVE A TAX PROBLEM WITH THE IRS?
The first thing you need to recognize is that it won’t go away. Ignoring IRS tax problems only gets more expensive with time! Tax liabilities can result in you losing property, bank accounts and your good credit. What’s just as bad is that IRS penalties and interest can often get so high that they amount to more than the tax you originally owed. The IRS can even take your Social Security, Pension benefits and retirement accounts. That’s more power than any other creditor has!
Out of fear, many times people with tax problems just stop filing returns altogether. Bad idea. Our friends in the IRS notice these things, and again, penalties and interest just keep growing. And if the IRS wants to, they can simply make up a tax return for you…and it won’t be pretty. If you haven’t filed any returns you need to file them. The sooner, the better.
SO, HOW DO YOU DEAL WITH IT?
First, don’t panic. Second don’t talk to the IRS alone. Remember, in this situation, the IRS is the country’s most powerful debt collector. They are not above using scare tactics. Given the power it has, these threats can be intimidating. It’s a good idea to get an attorney who has dealt with the IRS, and knows where there are opportunities to work things out in a way that works for everyone. The IRS will usually be more open to discussions with a professional because they know we won’t be frightened or intimidated by their threats. There are solutions.
WHAT KIND OF SOLUTIONS?
Again, be sure you have filed all your necessary tax returns to date. The IRS will not even consider any type of compromise or settlement unless your tax filings are current.
Once you’re certain your returns are up to date, you lawyer can begin negotiating.
Avoid penalties. Despite everything, the IRS can be flexible. For example, under IRS guidelines, there are many circumstances where penalties can be reduced tozero. This process is called a Request for Penalty Abatement.
They will settle for less.The IRS has a program called Offer in Compromise. This is a way in which we can get the IRS to settle for less than you owe—including penalties and interest. It will even remove any federal tax liens. Before we go any further, beware of firms that promise you IRS settlements for pennies on the dollar. It happens sometimes, but not as often as those television commercial suggest. But don’t despair either.
Monthly payments.The IRS does not want your house! They want your money. Even if they won’t reduce the tax owed, they will accept payments based on your ability to pay. This is called an Installment Agreement. This takes a lot of the pressure off you. You pay based on the agreed monthly payments, and the IRS will not bother you, or take your property as long as your payments are current.
HOW CAN WE HELP?
First you’ll never have to meet or speak with the IRS. No. Period. Your attorney will handle any and all meetings, phone calls and negotiations on your behalf. We’ll stay in close touch with you so you know exactly what’s going on in your case every step of the way. You won’t be bullied by the IRS
We prepare and manage all the paperwork. If the IRS wants to meet, we’ll do it in our office or theirs…not your home or office. And you don’t need to be there. I once went to meet with the IRS on behalf of client, and the Officer was annoyed that my client didn’t come. He said, frankly, “I wanted your client to feel the pain.” Well, we worked out an agreement pretty quickly.
I have represented taxpayers in a variety of situations: business, personal, estate, and bankruptcy. It’s important to stay current with ever changing tax rules and regulations so I regularly keep up to date through continuing tax education law courses. In addition to being admitted to the Pennsylvania Bar and Federal Bar, I am also admitted to practice before the United States Tax Court.
IS THE FIRST CONSULTATION FREE?
Absolutely. We meet to discuss your specific situation, review the available options and determine our strategy. We’ll also discuss fees, costs and payment so you know just what you’ll be paying for, and how much.
Timothy J. Trott
24 Market Street
West Chester, PA 19382
(610) 430-6500
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Disclaimer:
The information provided on this website is for general information only. For specific answers to your specific legal questions, you should contact an attorney.
