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IRS Debt Attorney

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					An IRS debt attorney is a dedicated professional who has extensive knowledge and
experience in the area of negotiating tax settlements. Businesses have special issues
related to taxes that individuals don't face. For example, businesses are the front line
wealth collectors which conveys a heavy responsibility within a bureaucratic system.

Padlocked Doors

One of the saddest sights you can see in this country is a business that's been virtually
ransacked by the IRS and the door padlocked. When a business collects employee
taxes and then fails to remit those taxes to the IRS, the collection process kicks into
gear swiftly. One reason for this is the fact that the income portion of the withholding
actually came from wage earner checks and not from business profits.

One of the most common tax problems businesses face is failure to pay taxes due to
the IRS on a quarterly basis. In addition, businesses are required to file a number of
reporting forms. Every deposit not made and every form not filed can result in
penalties and interest being charged.

Failure to remit taxes is a serious problem, and it's also like an avalanche. Once a
business falls behind, it's hard to catch up. There are different types of taxation such
as income, social security, unemployment and business taxes which need to be paid
regularly. The forms are complicated to make matters worse. Businesses make
mistakes on the forms which create another tax problem.

An IRS debt attorney is a valuable resource for dealing with problems related to
businesses. A typical small business has over 200 IRS compliance requirements which
can trip up a business at any time. When mistakes are made or taxes are not remitted
in a timely manner, retribution by the IRS can be swift and expensive.

Finding the Padlock Key

One of the main bargaining points a business has during negotiations with the IRS is
the fact that by staying open there's hope of paying back the owed dues plus accruing
additional future taxes. An IRS debt attorney can present a plan for payback that
enables the business to continue operating. In this way employees don't lose their job
and the IRS gets their money.

Such negotiations can be quite sensitive though. The business has already lost
credibility in the eyes of the IRS for failure to remit taxes held in trust. The best hope
for restoring that trust is through the intervention of an intermediary such as an IRS
debt attorney.

An IRS debt attorney can work out a settlement or payback plan or get penalties
abated by showing there was reasonable cause for failure to pay. The attorney is
familiar with all the options for tax negotiation and can get the best compromise offer
possible. If you have a business with taxation problems, it's important to get
assistance immediately so resolution can be found as early as possible.

				
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posted:1/23/2011
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