Zelma Davila, Esq.
IRS Tax Debt Relief: An Offer In Compromise Could Save You From a Bank Levy
Failing to pay taxes on time can have serious consequences, including IRS levying your bank accounts and accounts receivables.
This is a scary prospect for many people, and businesses, as it could mean losing access to their hard-earned money or even having their bank accounts and accounts receivables garnished. The IRS also has the power to put liens on your property and assets if you don't pay up in full.
Fortunately, there are steps you can take to avoid this situation altogether. You should file tax returns on time, make estimated payments if applicable, establish a payment plan with the IRS, and consider an Offer In Compromise (OIC) or bankruptcy if necessary.
With the right help from experienced professionals like the tax attorneys at Almeida & Davila, you may be able to save yourself from a bank levy and get back on track financially.
Hi! I'm Zelma Davila I help people and business solve their debt problems so they can concentrate on the things that matter most the without the weight of debt. We do this via the Almeida & Davila Way, a program using bankruptcy, negotiation, and litigation to obtain results with lasting impact.
IRS tax debt relief is a crucial step to take in order to avoid IRS levying your bank accounts and accounts receivables. To do this, there are several strategies that can be used. These include filing taxes on time, making estimated payments if applicable, establishing a payment plan with the IRS, and considering an Offer In Compromise (OIC) or bankruptcy if necessary. By taking these steps, you may be able to save yourself from IRS levying your bank accounts and accounts receivables.
IRS Tax Debt Relief Strategies to Avoid Bank Levy
IRS tax debt relief strategies can help you avoid IRS levying your bank accounts and accounts receivables. These strategies include:
- Filing tax returns on time. This is very important to ensure that the IRS has accurate information about your income and financial situation, as well as prevent IRS penalties in case of late filings.
- Making estimated payments if applicable. If you are self-employed or have other sources of income, you may be required to make quarterly estimated payments throughout the year which should be paid on time to avoid any IRS penalties for late payment.
- Establishing a payment plan with the IRS. If you are unable to pay a large amount at once, setting up an IRS approved payment plan could help you manage the debt over a longer period of time.
- Considering an Offer In Compromise (OIC) or bankruptcy if necessary. An OIC can help you settle IRS tax debt for less than what is owed, while declaring bankruptcy may be a last resort option to help get rid of IRS tax debt altogether.
Consequences of Failing to Pay Taxes in Full
When it comes to IRS tax debt, failing to pay taxes in full can have serious consequences. The IRS has the power to levy your bank accounts and accounts receivables if you don't pay up on time. This can be a devastating situation for individuals, families, and businesses alike as it could mean losing access to their hard-earned money or even having their bank accounts and accounts receivables garnished. The IRS also has the power to put liens on your property and assets if you don't pay up in full.
The Almeida & Davila Way – How We Can Help You Solve Your IRS Tax Debt Issues
If you find yourself in the unfortunate position of owing IRS tax debt, it's important to act quickly and seek help from experienced professionals. At Almeida & Davila, our team of tax attorneys can provide IRS tax resolution services via a program that uses bankruptcy, negotiation, and litigation for lasting impact. This program is designed to help individuals and businesses with IRS tax debt get out of their financial predicament and back on track financially.
We believe that no one should have to suffer under the weight of IRS tax debt for too long. With the help of experienced attorneys Tax relief through negotiations with the IRS is possible! Don't let IRS tax debt weigh you down any longer. Contact Almeida & Davila today to see how we can help you save from IRS levying your bank accounts and accounts receivables.
Take charge of your finances and contact us today! We look forward to helping you achieve IRS Tax Debt Relief freedom.