IRS Compromises of Estate and Gift Taxes
QUESTION:
I have read how you help people who are behind in paying their taxes. My problem is with unpaid gift and inheritance taxes. Does the IRS make deals on these kinds of taxes too?
ANSWER:
I’m glad you asked that question. The overwhelming majority of my clients have problems with their income taxes. However, the IRS does indeed make deals on other kinds of taxes. Payroll and corporate taxes are the next biggest group. Another situation that arises more often than you would think is when two people claim the same child or other person as a dependent. To address your question directly, I have had clients who were assessed gift taxes they did not know were due and also estates that did not have the money to pay inheritance taxes. I feel sure I can help you with this problem. The kind of deal we make depends on several factors. One is how much tax is owed. Another is what gave rise to the tax and why it was not paid on time. Finally, of course, your current financial condition is very important in determining how we deal with your situation. I will look at all of these factors and determine your best course of action. Then we will discuss my suggestions and will only take such actions as you approve. I will be happy to talk with you about your situation and tell you how I can help. Your initial consultation is free and you will be under no obligation. The sooner you take action to solve your tax problem, the sooner you can rest easy and cease worrying about those taxes! Please call today for a free consultation.
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