Prior to 1776 the United Kingdom taxes the American Colonies. But ever since the US gained its independence and had its own taxation system, people and other entities must pay taxes. And since then, different states have their taxes that are unique to their state. For example, the State of Alabama has 10 cent tax on playing cards. More importantly, owing the IRS money has become quite common for many businesses and individuals. Owing the IRS money is therefore not something that is so unusual that there is no possible solution to the problem. In fact, owing the IRS money is a problem that can be solved if you seek the assistance of IRS lawyer.
When you owe the irs back taxes, the IRS can levy upon your assets. In what is called seizure, the IRS has the power to levy upon assets of the taxpayer, as well as the assets of the taxpayer that are in the possession of third party, brokerage house, banks and others. However, the US Constitution mandates that the IRS must first provide proper notice to the taxpayer and give the taxpayer the chance to be heard. As you are given the chance to be heard, an IRS lawyer would be able to represent you so that you and the IRS can determine if you really have back IRS taxes. The IRS lawyer will conduct an investigation about your case and determine if owing the IRS money is really your problem or not. It is not uncommon for the IRS to make mistakes so this is where a good lawyer comes in handy.
In case it is and you really owe the IRS money, the question now is what to do if you owe the IRS money. Now, what you have to remember is that when it comes to owing the IRS money, the worst thing that you can do is to ignore the problem. This is because it will not go away and instead you will be forced to pay one way or another. What you also need to remember is that there are exemption for some persons, income and property as provided by the United States government. As such, you may qualify for exemption, if not from paying taxes, then from the levy. Again, the IRS lawyer knows how to negotiate with the irs on back taxes and levy so it is important to seek the help of an IRS lawyer before the IRS gets your possessions.
Owing the IRS money is a serious problem. But owing the IRS money is not the end of the world. In fact, with the help of a lawyer you can settle your debt under the Offer in Compromise, Streamline Installment Agreement, Conditional Expense IA, Stair Step AI, Partial Pay Installment Agreement, Currently Non Collectible or Penalty Abatement. A good IRS lawyer can help you determine which is the best option for you. Moreover, the lawyer can negotiate with the IRS so that your offer of settlement will be accepted. Read this for more.