A Southern District of Florida bankruptcy attorney is one who specializes in tax debt resolution and can provide you with the appropriate advice and support. A bankruptcy attorney in Florida will assist you with tax resolution projects and help set up a plan that will help you to settle your tax debt obligations.
Nobody wants to be in the position of being labeled a tax delinquent, and this is because it can remain on one’s credit record for seven years. The good thing is that there are solutions to tax debt relief if you seek the advice of a bankruptcy attorney.
The main drawback
One of the major drawbacks of a tax debt is that the government is usually only looking for a payment solution. When you incur tax debt due to a delinquent tax return, and you cannot afford to pay the tax debt, the government will want a long-term payment plan. When one enters into a tax debt resolution plan, IRS can stop all collection action and even impose a fine on the amount of taxes due. For several reasons, it is conceivable for reducing, suspending, lowering, or suspending interest, to bring the balance down to zero.
If you are current on your tax liability, a bankruptcy attorney can halt any collection action against you including levies and garnishment. This can work in your favor as you can work with an attorney to come up with a feasible long term plan to repay your tax liability. Of course, in some cases, a bankruptcy court may decide that you have the right to discharge your entire tax debt and take the ride of other penalties like penalties and interest that have been accrued.
If you have unfiled tax returns and you want an effective solution then should contact your Healthy Taxpayer Counseling pros to help work with your tax debt resolution. They can provide you with a consultation to work through the tax liability issue and to help you prepare the necessary documents that will help you qualify for a tax debt relief.
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