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IRS Tax Debt Relief in Minnesota
There many reasons why people fail to pay their taxes by the due date. Maybe you're unemployed or seriously ill. Perhaps you made an honest mistake when you filed your taxes. Regardless of the reason, the Internal Revenue Service and the Minnesota Department of Revenue will make every effort to collect your tax debt. But before the government starts harassing you, hire a Minnesota tax attorney who can help you find a workable tax relief solution.
Once you miss the tax deadline, you can expect to receive a tax notice from the IRS and the Minnesota Department of Revenue estimating how much you owe them in back taxes. That notice may also include interest fees and late payment penalties.
Your Minnesota tax lawyer can review the tax bill as well as your tax returns to ensure that it's accurate. If necessary, your attorney can work with the government to get the bill corrected.
Federal & Minnesota Tax Payment Options
If you're unable to pay the full amount you owe, you have several options. Your Minnesota tax debt attorney can walk you through these in more detail, and discuss the advantages and disadvantages of each choice.
You can apply to pay your taxes in monthly installments. This allows you to pay down your tax debt over time. It's important to note, however, that you'll continue to be charged tax penalties, in the form of interest and fees. If possible, you want to pay down your tax balance as quickly as possible to minimize these costs.
If you're facing a serious financial hardship, the government may consider waiving some of these penalties, which is known as penalty abatement. Your Minnesota tax relief lawyer can help you apply.
In some circumstances, you may be able to settle your tax debt for less than the full amount you owe. This is known as an offer in compromise. The government will consider an offer in compromise in a limited number of circumstances, including serious financial hardship and questions as to whether you actually owe all of the tax you've been assessed.
You'll also want to discuss with your Minnesota tax debt lawyer whether your tax debt can be discharged in personal bankruptcy. This is a much less common solution to tax debt problems because very strict requirements must be met for the tax debt to be eligible.
Your Minnesota tax relief attorney should review your financial situation and past tax returns, then try to understand how you came to owe your tax debt. Depending on your specific circumstances, there may be other tax relief solutions for which you qualify.
Find & Hire a Minnesota Tax Attorney
Although you can try to settle your tax debt problem on your own, there are several reasons to consider hiring a Minnesota tax lawyer to assist you.
- The intricacies of the law can be confusing and tax law is particularly complicated. Any mistakes you make can be costly. But a Minnesota tax debt lawyer will have spent years studying the tax code and working with the government while representing clients just like you. That experience can be invaluable, ultimately saving you time and money.
- There are a number of tax debt solutions available, and it can be difficult to know which is right for you. Your attorney can review the pros and the cons of each choice and suggest the option which will work best for you in the long run.
- Finally, dealing with the government—and the IRS in particular—can be stressful. When you hire a Minnesota tax attorney, you're empowering that lawyer to deal directly with the government on your behalf. You'll no longer have the headaches that come from calling and writing to the IRS.
If you're ready to find and hire a Minnesota tax relief lawyer, then you're taking an important step toward solving your tax debt problems. Congratulations! And Attorney.com can help you through the process. We offer a fast and free service that can connect you with a local Minnesota tax lawyer. To get started, simply call us at 877-913-7222 or complete the form on this page. After answering a few easy questions, we'll put you in touch with a Minnesota tax attorney in your area.