IRS Tax Resolution
The majority of my law practice is assisting clients with their IRS tax liabilities. If the IRS is threatening to levy you, garnish your wages, or maybe they already have, you don’t have to just let them do it. Know your rights and learn how you can deal with the IRS and get your life back.Â
There are several ways we can work with the IRS to settle your tax liability. They include an Offer in Compromise where you settle your liability for less than you actually owe; an Installment Agreement, where you agree to pay the IRS a monthly payment until the liability is paid off or until the collection statute of limitations expires; Finally, we can attempt to have you placed in currently non-collectible status where the IRS agrees to leave you alone for a couple of years to allow you to get your feet back under you.Â
We can help almost everyone with their tax liability whether it is personal income tax, business income tax, trust fund recovery penalty, or trying to have your penalties abated. We can also help to ensure you are given the Earned Income Credit if you deserve it, as well as protect a spouse who should be given relief under either the injured or innocent spouse doctrines.Â
 E-mail us today to set up your free consultation.Â
I am a British citizen that is married to a non-working U.S. citizen and lived and worked in the U.S. for many years (up to 2002) before moving to Panama where I am a permanent resident. I have unfiled taxes from 1997 up to the present. I owe about $250,000 in principal and probably double that amount in interest and penalties. Is there any way to negotiate an offer to pay the entire principal amount in one lump sum and get mitigation on the interest and penalties? I visit the U.S. on average about 3-4 times a year and don’t want to be a “tax exile” and to be in fear of visiting the U.S.
Regards,
David Johnston
T-100, apt 18-B
Pacific Hills, Dos Mares,
Panama City, Panama
+507-6674-5535
Comment by David Johnston — July 29, 2007 @ 6:09 pm
Hi David,
The IRS does negotiate outstanding tax liabilities. The first thing you would need to do is make sure all of your tax returns that are required to be filed in the U.S. are filed. That has to be done before the IRS is willing to negotiate.
You can check out the IRS Form 656 “Offer in Compromise” form to see the types of information they request. In theory, it doesn’t matter how much you owe in taxes - the only thing that matters is your “reasonable collection potential.” For example, it doesnt’ matter if you owe $10,000 or $100,000 - if your paperwork only shows you can pay $1,000. Hopefully that makes sense.
You have raised an interesting issue in not being a U.S. Citizen or resident. I will have to do some research to determine whether that has any bearing on the process or not.
Thanks for your question,
Tripp
Comment by Tripp — August 1, 2007 @ 4:34 pm