Reduced Installment Agreements
If the IRS has audited your returns and ruled that you face a substantial tax liability, there may be options available to seek a partial payment plan that fits your financial circumstances. If you already have an installment plan in place, but your circumstances make it impossible to keep up with the required payments, you may be able to negotiate a reduced installment plan, or petition the IRS to assign your tax liability as Currently Not Collectible.
If you are a resident of King County, Pierce County or Snohomish County, Washington, and face a significant IRS tax liability, call to schedule an initial free consultation with an experienced tax law attorney at Insight Law.
What if You Are Nearing the End of Your Collection Period?
The IRS tax collection period may be extended to as long as 10 years. Many taxpayers still owe a large amount of taxes as they near the end of their installment period. If you still face a significant tax liability that you cannot repay, we may be able to negotiate a reduced payment. Setting up or extending an installment plan can often work to your greater advantage than accepting an offer in compromise to pay off a lump sum.
Why Do You Need an Experienced Tax Lawyer?
Installment plans and reduced payments are not automatic. The IRS wants the full amount of taxes you owe, if possible. Before approving an installment plan, the IRS will require a substantial amount of financial information before they will allow a partial payment plan to be set up. Over the course of the repayment schedule, which can be as long as 10 years, the IRS will constantly review your income reporting. Throughout the scheduled repayments, you may be asked to repeatedly prove that you continue to face a financial hardship if you are required to repay in full. Also, if your income declines, you will be required to contact the IRS and go through the same procedure if you need to see a further reduction in scheduled payments. We will work aggressively to protect your rights and financial interests throughout the process.
Our firm offers a full range of services for people with an outstanding tax balance owed the IRS, including:
- Tax workouts, offers in compromise
- Reduced installment agreements
- Removal of IRS liens, levies and wage garnishments
- Innocent spouse relief
Free Initial Consultations
From offices in Seattle, Bellevue and Burien, our tax lawyers advise and represent clients in communities throughout King County, Pierce County and Snohomish County, Washington. Call us at 206-922-8078 or contact our office by e-mail to arrange an initial consultation with an experienced Tax Attorney at our firm today.
Unemployed or Low-Income Taxpayers Needing Pro-Bono Tax Lawyer Assistance
The federal government provides a free tax attorney to those meeting certain income guidelines. In the Seattle area, you can contact the University of Washington Federal Tax Clinic at 206-685-6805. They will take you through a list of questions to see if you meet the eligibility requirements for the clinic. Our attorneys provide pro-bono legal services through the Federal Tax Clinic, but you must contact them directly to arrange these services. Their website link is: