IRS Tax Debt Relief in New Hampshire
If you owe back taxes to the federal government or state of New Hampshire, you're not alone. Each year, millions of people accumulate tax debt. Some are facing financial hardships as a result of unemployment, divorce and medical issues. Others were surprised with a big tax bill following an audit. Still others simply forgot or chose not to pay their taxes. But because the government will aggressively pursue you for payment, you should work with a New Hampshire tax attorney to find a solution to your tax debt problem.
Federal & New Hampshire Tax Relief Solutions
The Internal Revenue Service and New Hampshire Department of Revenue Administration have several tax relief programs in place, each designed to help you get rid of your tax debt.
Your New Hampshire tax lawyer can review your past tax returns, tax bills and financial situation to help you determine which tax relief solution is right for you.
One of the most common solutions is an installment payment plan. If you can't afford to pay your tax debt in a single lump sum, then the installment plan lets you pay down your tax debt in smaller monthly payments. The biggest disadvantage is that interest charges and other penalties will continue to accrue until your debt is paid in full, so you should try to pay as much as you can afford each month.
Several Options Available in Solving Financial Hardships
Federal and New Hampshire taxpayers who are facing financial hardships have a couple options available.
You can apply for penalty abatement, which wipes out any interest charges and tax penalties added to your bill. These penalties add up quickly, so penalty abatement may significantly lower your total tax debt.
The offer in compromise program allows you to settle your tax bill for less than the full amount you owe. The government will consider an offer in compromise if it thinks it would be unable to collect your entire tax debt or if you're facing financial hardship.
Offers in compromise will also be considered if there is some doubt as to whether you're liable for your entire tax bill. If you think your tax bill is wrong, you and your New Hampshire tax relief attorney can also work directly with the government to get it corrected.
Finally, you may be able to discharge your federal tax debt through personal bankruptcy. You must meet very specific eligibility requirements, so you'll want to discuss the qualification criteria with your New Hampshire tax debt attorney or bankruptcy lawyer.
Find & Hire a New Hampshire Tax Relief Lawyer
A New Hampshire tax debt lawyer can be a trusted advisor, tireless advocate and wise counselor as you solve your tax debt problems. So if you're ready to tackle the problem, your next step is to find and hire a New Hampshire tax relief lawyer—and Attorneys.com can help you in the process! Whether you live in Manchester, Nashua, Concord or elsewhere in New Hampshire, our free service can connect you with a tax attorney in your area. To get started, call us today at 877-913-7222 or complete the form on this page.