Denver Tax Collection Defense Attorneys
Protect yourself from the IRS today
Taxpayers who are unable to pay what they owe to state and federal tax agencies often find themselves embroiled in collection proceedings. If the IRS moves to secure their interest, it can wreak havoc on your credit rating and render you unable to secure leases, loans or mortgages. At Merriam Law Firm, P.C., our experienced Denver tax attorneys help individuals and businesses resolve problems involving:
We have more than 30 years of experience helping clients throughout Colorado find solutions to their payment problems. Let us put our knowledge and skill to work for you.
Learn more about IRS levies
If you fail to pay your taxes or make any arrangements to settle your debt, the IRS may levy your assets to satisfy your tax deficiency. Levies are usually issued by the IRS after the following has occurred:
- The IRS assessed your tax liability and sent you a “Notice and Demand for Payment”
- You failed to pay or make proper arrangements to settle tax assessed by the IRS
- The IRS sent you a “Final Notice of Intent to Levy and Notice of Your Right to a Hearing” (levy notice) at least 30 days before the levy.
You have 30 days from the date of the notice to contact an IRS manager to review your case. It is critical that you take action immediately. There are certain lines of defense that you may take to either prevent or remove an already existing levy. IRS levies can have a devastating impact on your own and your business’s finances, so it is important that complex IRS communications are handled appropriately. The Denver tax attorneys at Merriam Law Firm, P.C. have extensive experience in handling IRS levy prevention and removal. If you need help resolving your tax problems, contact our firm today.
Offers in compromise
If you are unable to pay your tax debt to the IRS in a lump sum or installment agreement an offer in compromise (OIC) may be a good option for you. If you qualify for an OIC, your tax debt may be seriously reduced. In addition, an OIC will stop IRS wage garnishments, wage levies, bank levies, and IRS levies against property or right to property. The IRS will accept a reduced amount from you as a full settlement if:
- Doubt exists that assessed tax is correct
- Doubt exists that the taxpayer could ever pay the full amount of tax owed
- Exceptional circumstances exist that allow the IRS to consider the taxpayer’s offer. The taxpayer must demonstrate that collection of tax would create an economic hardship or would be unfair or inequitable.
In order to qualify, you also need to be in a compliance with IRS policies for six months before an offer is submitted and after your offer is accepted by the IRS for its duration. It is important to understand that the OIC is not a negotiation. The amount you offer to settle your debt with the IRS is calculated not based on your personal judgment but rather on a series of complex formulas that take in consideration your income, assets, personal circumstances, cost of living in the region where you reside, and more. Our attorneys have extensive experience in preparing offers in compromise for individuals and businesses. Please contact us to discuss available options to reduce your tax debt.
Protecting employers from collection problems
Defaulting on payroll taxes has become an increasing problem for employers throughout Colorado. As an employer, you are responsible for paying the IRS all money deducted as withholding, FICA, the matching portion, and interests and penalties if you file or pay late. Trust fund recovery penalties (TFRPs) are levied on companies that fail to make these payments. If an IRS officer feels that the company cannot pay outstanding liabilities over a short period of time, levies are assessed against individuals who have responsibility to collect and pay employment and income taxes for the company.
TFRPs require immediate action to prevent levies on your company’s and your personal assets, wages and bank accounts. There are solutions available to prevent IRS levies, including negotiations with the IRS, installment agreements and offers in compromise. Our attorneys can take over the role of negotiator, making sure that the IRS officer handling your case properly follows all procedures. We have handled many TFRP cases and IRS negotiations for our clients, and stand ready to help you today.
Experienced attorneys. Personal attention. Proven results.
If you need an experienced tax attorney to handle your claim, look no further than Merriam Law Firm, P.C. Call us today at 303-592-5404 or feel free to contact the firm online to schedule an initial consultation. Our office is conveniently located in the heart of downtown Denver and easily accessible via mass transit. We represent clients throughout Colorado, including those residing in Denver, Boulder City, Colorado Springs, Fort Collins and all surrounding areas. For more information about our firm’s practice, email [email protected].