Orlando Tax Debt Relief Attorney

Millions of people are struggling with tax debt in Orlando, and throughout the entire country. Fortunately, there are a number of programs that can help with your tax debt obligation. There are many different types of tax debt, and each issue has its own solution. Below, our Orlando tax debt relief attorney explains a few of the programs that are most commonly used.

Relieving Tax Debt Through Bankruptcy

Filing bankruptcy certainly is not a best case scenario, but it can help relieve some or all of your tax debt. To do this, you must meet certain requirements. Your taxes must have been owed for at least three years, and your returns must have been filed for a minimum of two years. Also, your tax liabilities must have been assessed for a minimum of 240 days. If you meet these requirements, you may be able to find tax debt relief through Chapter 7 or Chapter 13 bankruptcy.

Penalty Abatement

Penalty abatement relief can help if you can afford to repay the total amount of the taxes you owe, but you cannot afford the penalties or interest your current tax debt has accrued. To request penalty abatement, you must complete Form 843 and you will also have to show a reasonable cause for failing to pay your taxes on time, or file them on time. Issues such as a disability or job loss can provide a reasonable cause.

Innocent Spouse Relief

You can request Innocent Spouse Relief status by completing IRS Form 8857. The form asks that you not be found liable for your current or former spouse’s tax debt. To be successful with this request, you must show that you did not benefit from the funds your spouse obtained. This category includes different types of relief, so it is important to find the one that is right for you.

Currently Not Collectible

If you are not able to pay your tax debt at all, you can request Currently Not Collectible status. If you are successful, the IRS must stop all collection attempts against you, such as wage garnishments and levies.

However, it is important to note that this remedy is just a temporary solution. You can only hold the status for 12 to 24 months. While you are not required to make payments during this time, your taxes will still incur interest and penalties, which can make it more difficult to pay once your status expires. If you can postpone collections with this status until the statute of limitations on the debt runs out, the solution may be permanent.

Our Tax Debt Relief Attorney in Orlando Can Advise You of Your Options

At Florida Law Advisers, P.A., our Orlando tax debt relief attorney understands the stress unpaid taxes cause. We also know the solutions that can help you get out from under the debt or make it more manageable to repay. To learn more, call us now at 1 (800) 990-7763 or contact us online to schedule a consultation with our experienced attorney.