IRS Tax Debt Relief in Illinois
Do not ignore any tax debt you owe to the Internal Revenue Service or Illinois Department of Revenue. The government has a number of tools at its disposal to help collect those unpaid taxes, and it won't hesitate to use them. Instead, an Illinois tax attorney can help develop a plan to pay off the money you owe.
How the IRS Collects Tax Debt
The IRS and Illinois Department of Revenue generally have 10 years in which they can legally collect unpaid taxes. After 10 years have passed, they will write off the debt and you are not legally obligated to pay.
The clock doesn't start ticking until the tax is assessed, as opposed to when it is due. In other words, if the tax was due on April 15, 2010, but you didn't file your tax return until February 1, 2011, the 10-year period would end on Jan 31, 2021, not April 14, 2020. You can rest assured, however, that the government will do everything in its power to collect that tax debt before the 10-year period draws to an end.
Among the actions the government can take to collect unpaid income tax or other tax debt:
- Add tax penalties, in the form of interest and fines, to your unpaid tax bill. A fine is intended to punish you for your late or missing payment. The interest serves as an incentive to pay your tax bill quickly, before additional interest accrues.
- Have a tax lien imposed on your assets. A tax lien prevents an asset from being sold unless the tax debt is paid and the lien is lifted. Tax liens can be placed on things of value, such as your home, your car, your boat and anything else you own of value.
- Impose a tax levy, which gives the government authority to seize and sell your assets to repay your tax debt. Your bank accounts, brokerage accounts, jewelry, real estate and vehicles could all be seized.
Fortunately, the government is unlikely to impose a tax lien or a tax levy if you communicate with them and make an effort to pay your tax bill. They will even consider waiving some penalties if your tax balance was the result of an honest mistake or legitimate inability to pay. However, if you ignore the government and make no effort to pay your taxes, you're likely to face fines, interest charges, tax liens and tax levies.
How an Illinois Tax Lawyer Can Help You
An Illinois tax lawyer can help you get tax relief.
Your attorney can:
- Communicate with the IRS and Illinois Department of Revenue about your unpaid taxes
- Review your tax bill to ensure that it's accurate
- Analyze your finances to help determine how much you can afford to pay the government and how quickly you can pay
- Review your tax payment options, explain the advantages and disadvantages of each option, and suggest which tax relief solution is best for you
- Help you apply for tax payment programs
When hiring an Illinois tax relief attorney, you'll want to hire a lawyer who has experience representing clients who have federal and Illinois tax debt. Your Illinois tax debt lawyer should have knowledge of the tax payment programs and be comfortable working with both the IRS and the Illinois Department of Revenue.
Locate & Hire an Illinois Tax Relief Attorney Today
Congratulations on taking the first step to solving your tax debt problem. The sooner you address the issue, the sooner you'll rid yourself of the burden of unpaid taxes. Your next step is to hire an Illinois tax relief attorney, who can guide you through the process—and Attorneys.com can help you find a local Illinois tax relief lawyer. Simply complete the simple questionnaire on this page or call us at 877-913-7222. After answering a few questions, we'll connect you with an Illinois tax attorney in your area.