You should contact a tax attorney in Wyandotte County when the penalties and interest for back taxes are accumulating at an alarming rate. When this happens, things can quickly get out of control and become overwhelming to handle. You risk wage garnishment, levies on your bank accounts, liens on your home, and more. Fortunately, there is a solution that works for many residents of Wyandotte County – Chapin Law Firm!
If you have more tax debt than you can afford to pay, in some cases it is possible to settle your tax debt for less than the full amount you owe. It is important to understand that all unfiled tax returns need to be filed prior to any potential resolution with the IRS or Kansas Department of Revenue in order to be considered for any type of resolution.
Your options for relief from back taxes can include an offer in compromise, which is a federal program that allows you to pay your tax debts, including interest and penalties for less than you owe in a lump sum. In addition, a petition for abatement allows you to settle your state tax liability in a program similar to an offer in compromise. Many people may not be aware that these are viable options. However, they may be the only legitimate options available when you can’t pay your full tax liability, or when doing so creates a crippling financial hardship for you and your family.
You may be able to obtain relief for all or part of your final tax liability by having your tax attorney in Wyandotte County help you file an offer in compromise and a petition for abatement. This will allow you to reduce your tax debt to less than the full amount you owe. In most cases, you will be able to pay off your tax debt and resolve any pending collection and legal actions. However, you must be deemed eligible before any offer is approved. The process of evaluation and verification of your offer by the KDOR takes into consideration your income, expenses, asset equity, and any special circumstances that might affect your ability to pay.
Your tax attorney in Wyandotte County helps determine your eligibility by ensuring that you meet all filing and payment requirements. We will make sure you have filed all tax returns that you are legally required to file and that you have made all estimated tax payments for the current year. We will also help you to compile the required documentation to support your offer in compromise and petition for abatement, which may include a non-refundable application fee, a financial statement, a waiver of confidentiality, and a power of attorney form.
Although an offer in compromise and a petition for abatement is not for everyone when you hire Chapin Law Firm to help you resolve your tax debt, including ensuring all prior tax returns have been filed. When you contact our firm, you will work directly with attorney Brett Chapin throughout the process. He is a tax attorney in Wyandotte County with more than 20 years of experience helping clients find relief from delinquent taxes.
At Chapin Law Firm, we always consider the facts and circumstances that are unique to you – your ability to pay, your income, your expenses, and asset equity. When the amount offered represents the most the Kansas Department of Revenue (KDOR) can expect to collect within a reasonable period of time, offers in compromise and petitions for abatement are generally approved. If you wish to discuss your options for relief with a tax attorney in Wyandotte County, contact us to schedule your first appointment.
You can reach our office at 913-385-0600. You can also send us your information online and we will get back to you immediately.