Resolving Delinquent Federal Income Tax
Overwhelming past due income taxes can be resolved through a variety of alternatives. The proper choice depends on a number of factors best determined by a complete analysis of each tax problem on an individual and customized basis. Choosing the proper approach requires a plan based upon:
- A full understanding of all legal tax relief options available
- The nature, age and amount of the tax obligations
- The taxpayer's current assets and liabilities
- An examination of monthly income and expenses
Carefully analyzed by an experienced attorney, these factors are used to determine the best available choice and the proper implementation of all available options. The lawyers at the Law Offices of Neil Crane, LLC, have the knowledge, experience and insights to help you choose the best possible solution it your tax debt. Contact us online, call us at 203-230-2233 or call us toll free at 888-249-3027 for a free initial consultation.
Submitting a Successful Offer in Compromise
Qualifying for an acceptable offer in compromise (OIC) requires the preparation and knowledge necessary to properly analyze and present an OIC amount that will meet the IRS guidelines for the proper amount to reach settlement of outstanding tax debt. A fully prepared offer must address the "reasonable collection potential" of an applicant based upon various factors, including assets, liabilities, and current and future cash flow amounts. Our office has carefully analyzed the budgets of thousands of Connecticut families in accordance with the testing criteria and process utilized by the IRS in appraising an acceptable offer in compromise.
All offers in compromise must address the following issues in detail:
- Reasonable collection potential, or RCP
- Allowable expenses
- Total offer amount
- Acceptable OIC grounds
- Exceptional circumstances
Understanding the criteria and availability of a proper application for a successful OIC requires the knowledge and dedication of an experienced tax relief attorney. An OIC is a time-consuming and complicated process for taxpayers needing extraordinary tax relief. Trust your future to experienced attorneys who understand all possible options, including:
- Lump sum agreements
- Short term agreements
- Deferred periodic agreements
At the Law Offices of Neil Crane, LLC, we understand the importance of:
- Thorough evaluation
- Proper preparation
- Documented presentation
To understand your chances for a successful offer in compromise, call our experienced tax relief attorneys at the Law Offices of Neil Crane, LLC, at 203-230-2233, or toll free at 1-888-249-3027.
Qualifying for an Installment Agreement
Repaying back taxes through an installment agreement with the IRS requires the knowledge and experience necessary to properly analyze and qualify taxpayers for the appropriate form of an installment tax agreement. Through a careful analysis of your assets, liabilities, income and expenses in accordance with the IRS's own criteria and template, we are able to offer maximum success under various types of installment agreements; including:
- Guaranteed installment agreements
- Streamlined installment agreements
- Partial pay installment agreements
- Business installment agreements
Our office has analyzed thousands of Connecticut family budgets in accordance with the testing criteria utilized by the Internal Revenue Service's audits reviewing agents. We know what they look for and how to prove your case for the appropriate form of relief and tax installment agreement.
Currently Non-Collectible Tax Relief
The proper utilization and timing of currently non-collectible (CNC) relief requires a clear understanding of your specific financial circumstances and a working knowledge of all tax relief options available. Our experience and history of success allows us to properly choose the correct course of action and properly proceed to obtain granted relief under the requirements necessary to meet currently non-collectible status.
With proper timing and presentation, the granting of CNC status can prevent levies and liens against assets while taxpayers' poor cash flow makes them unable to repay past tax liabilities. Protection of assets is one of the main goals and advantages of CNC status by temporarily halting collection procedures.
For taxpayers with declining or fixed income, CNC status can allow for complete protection of assets as the ten-year statute of limitations elapses and the tax obligations thereby become permanently extinguished.
By making the proper choice among all available options, a decision to utilize currently non-collectible relief can be a tremendous relief for taxpayers with the help and guidance of experienced tax attorneys like those practicing at the Law Offices of Neil Crane, LLC. We understand all the legal tax relief options available and will help you determine which is the right choice in your particular circumstances. Our smart choices and quality presentations assure our clients of the maximum protection available under the law.
Innocent Spouse Relief
The granting of innocent spouse relief under 1RC6013 allows relief for a qualified taxpayer that has previously filed a joint tax return with his or her spouse and faces wrongful liability for taxes truly owed by the non-requesting party. Under certain circumstances, the IRS will relieve the innocent spouse of liability and collection of the amount due under a filed joint return.
The three basic forms of relief under IRS Form 8857 are:
- Innocent spouse relief: This relieves married taxpayers of all liability for tax interest and penalties on a joint return if it can be proven that the requesting taxpayer did not know, or had no reason to know that the offending spouse underpaid taxes.
- Separation of liability: This allows spouses that are legally divorced or separated after the filing of a joint return to separate their debt from joint and several liability for the full debt under the previously filed joint return.
- Equitable relief: This may be available on considerations of "fairness" or "gross unfairness" in the enforcement of joint and several liability where relief may be unavailable under innocent spouse relief or separation of liability.
At the Law Offices of Neil Crane, LLC, we know how to best qualify you for protection under the relief of innocent spouse exclusion to unfair liability for joint tax return obligations. Proper presentation of all of the facts needed to establish relief under IRS 6015 and proper timing of the filing for relief are essential to any form of relief under the innocent spouse exemptions.
Contact Our Hartford Connecticut Tax Attorneys
To speak directly with an experienced tax relief attorney at the Law Offices of Neil Crane, LLC, call us at 203-230-2233 or toll free at 888-249-3027. We'll meet with you in a free consultation with the protection and confidentiality of attorney/client privilege. You can also contact us online for a prompt response from an experienced attorney. We have office locations in Hamden, Bridgeport, Ridgefield, Waterbury and Rocky Hill for your convenience.
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