Connecticut Tax Installment Agreement Lawyers
Taxpayers who show an ability to repay may apply for an installment agreement where the Internal Revenue Service will accept a payment plan as an alternative to immediate payment of the tax in full. Penalties and interest will still accrue on the unpaid balance, but installment taxpayers can request a penalty abatement.
The IRS recently increased the standard repayment period from 60 months to 72 months. Choosing the right installment agreement and presenting the correct calculations is the key to success under any installment request.
Experienced Lawyers for Installment Agreements
Paying off your tax debt may seem like an unreachable goal. Fortunately, we know all of the options available for protecting your family from the difficulties of large, lump-sum tax debts. As a result of our well-prepared work product and experience, taxing authorities will often consider installment agreements to help debtors pay their tax debts over time.
The lawyers at The Law Offices of Neil Crane, LLC, understand how difficult it can be to pay off your tax debt, especially after fees, interest and penalties. We are committed to helping each of our clients find a successful resolution to their financial problems. We can help you get the debt relief you need through an installment agreement, offer in compromise or, if necessary, through bankruptcy.
If you are having problems paying your tax debts, we can help. Contact our law firm online, or call us at 203-230-2233 or toll free at 888-249-3027 for a free initial consultation.
Helping Clients Obtain an Installment Agreement
Through an installment agreement, you can make monthly payments to the taxing authority in order to satisfy your tax debt. This can be beneficial for a debtor who cannot afford to pay the tax debt all at once.
The steps you need to follow to obtain an installment agreement will depend on the type of tax you owe:
- Federal income tax: The IRS provides online resources and forms to help you apply for an installment agreement. This process, like all taxes, can be confusing. We can help you with the forms, answer your questions, protect your rights and properly represent you throughout the application and negotiation process.
- State taxes: The Connecticut Department of Revenue Services (DRS) Collections and Enforcement Division will determine whether you qualify for an installment plan for state income tax, sales tax and other types of state taxes. We are experienced at handling issues with the DRS, and we will work diligently to help you secure an affordable payment plan for your state income tax.
- Local taxes: Real estate and personal property taxes are handled at the city and town level. With offices in Hamden, Bridgeport, Ridgefield, Waterbury and Rocky Hill, we know the local tax offices, we understand their procedures and we can help you resolve your tax debt.
Types of Installment Agreements
At the Law Offices of Neil Crane, LLC, we can help you choose among various installment agreement options, including:
- Non-disclosure installment agreements — for debts under $25,000 and payable within the plan period
- Full disclosure installment agreements — for debts over $25,000 or not payable within the plan period
- Partial payment installment agreements — for taxpayers with an inability to pay in full
- Tiered installment agreements — for taxpayers under $25,000 with an inability to pay in equal installments
Within these types of installment agreements you can then choose from:
- Guaranteed installment agreement
- Streamlined installment agreement
- Non-streamlined installment agreement
- Partial pay installment agreement
- Small business installment agreement
Choosing and Proving Your Qualifications for an Installment Agreement
The key to approval under an installment agreement is choosing the proper form of installment agreement and proving the taxpayer's goal of a manageable monthly payment. At the Law Offices of Neil Crane, LLC, we pride ourselves on prompt and thorough presentation before all courts and tax tribunals. We understand the national and local standards for all income and expenses and have utilized these same standards in thousands of cases for means testing and other tax and bankruptcy purposes.
We have the experience to make an IRS review of all assets, debts, income and expenses necessary to formulate an installment agreement acceptable to the IRS. Put our knowledge and experience to work on your behalf when choosing an installment agreement.
Why Hire an Attorney for an Installment Agreement?
Hiring an experienced attorney to help you negotiate a tax debt is the first step to success. With taxes and taxing authorities, you have too much at stake to try to handle this on your own. If you do not pay your taxes, whether they are federal, state or local, you could face foreclosure, seizure of assets and liens on your property. The longer you wait to pay, the more penalties and interest will be added onto the debt you owe.
At our firm, we know the impact a tax debt can have on your life and your future. Each case is important and different, so we always take a comprehensive, customized approach to handling your specific case. We will carefully examine all of your debts, assets and income. That way, we can work to develop a debt relief strategy that encompasses your individual budget and all of your needs and your goals.
Since 1983, our firm has built a reputation for providing quality bankruptcy and tax debt relief services to clients throughout Connecticut. Attorneys and former clients frequently refer new clients to our firm, knowing that we will provide the skilled advocacy and personal attention their case requires and deserves.
Contact Our Hamden Lawyers About Your Back-Taxes
Do not risk losing your home or property to the tax authorities. Our attorneys can help you obtain an installment agreement so you can get your tax debt under control and get back on your feet. Call us today at 203-230-2233 or toll free at 888-249-3027, or contact us online. We offer a free, no-obligation consultation to discuss your rights, your options and solutions to your debt problems.
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