Tax Law is a highly intricate area of the law. Attorneys who specialize in this area of the law are admitted to a special tax court, which deals only with tax law issues.
If after filing your tax returns you find out that you owe large tax liability, here are some tips on what to do next.
Ways you can end up owing the IRS
You can find out that you owe the IRS a large sum in several ways, including:
- Following an audit--the IRS audits you and determines you have a liability
- Final assessment, district court or tax court order-- your case has been unsuccessfully argued in court
- Filed return but couldn't pay at the time
- File your return on time, even if you don't have the money to pay when you file, you don't want to risk the additional penalty of filing late
- Talk to someone- whether it is an attorney, accountant, or other qualified professional
- An Installment agreement
- Non-collectible status- due to your financial status, you could be temporarily placed on non-collectible status
- An Offer in Compromise
- Discharge liability in bankruptcy court
Most importantly, however, do not ignore any correspondence from the IRS. Sometimes mistakes are made, and even if not, you will surely be in a better position to negotiate a more favorable resolution if you are responsive to correspondence from the beginning.
Start your search for a qualified Tax Attorney today.
Bankruptcy – Business
Bankruptcy – Personal
Criminal Law – Appellate
Criminal Law – Federal
Criminal Law – State Felony & Misdemeanor
Drunk Driving Defense
Dumb or Weird Laws
GM Ignition Switch
Stryker Hip Replacement
Intellectual Property Law
Labor & Employment Law
Landlord Tenant Law
Personal Injury – Defendant
Personal Injury – Plaintiff
Social Security Disability
Weird Law Friday
Trending Searches#TBT #ThrowbackThursday constitutional law Criminal Law - State Felony & Misdemeanor dangerous or defective products divorce DUI dumb laws estate planning Events that Changed History Family Law FAQ first-amendment product-recall products liability random laws recall safety recall strange laws weird laws