Tax Debt Relief
Tax Debt Attorney
Do you have a tax debt to the IRS (or the State of Texas) that you cannot pay? Has your business neglected to file tax returns for one or more years? The Internal Revenue Service (IRS) has a reputation for aggressively pursuing delinquent taxes and tax-related offenses. If you or your business have failed to file tax returns, failed to make payroll tax payments, or underreported income, you could face very large fines and even prison time.
If you have recently received a notice about back taxes, tax-related penalties, or other tax issues, you may be unsure of how to proceed. Some business owners in this situation turn to private tax debt relief companies. Here, a tax delinquent business owner may stop the accrual of penalties and interest but end up with a high interest rate loan and a lot of fees instead. Others will try to work with the IRS themselves, without the experience or knowledge to achieve a good outcome.
Chapter 7 does the following:
- Stops collections actions
- Silences obnoxious calls and notices
- Ends lawsuits and wage garnishments
- Relaxes your extreme stress
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Hiring a Tax Debt Lawyer
If your business is facing a huge tax burden that you are not able to pay, bankruptcy and tax debt attorney Bill F. Payne can help. As an experienced tax relief lawyer, he has seen many situations like yours and can help you make sense of your tax obligation and your options for resolving your tax problems.
Bill F. Payne, P.C., has decades of experience handling tax-related legal issues for individual clients and businesses, and he knows the various routes clients can take toward tax relief. Mr. Payne can explain your options for reorganizing and restructuring your debt through Chapter 11 so you can determine if this is appropriate for your organizations.
Chapter 11 Bankruptcy Can Help Businesses
- Explore repayment options. A tax debt lawyer can negotiate a tax debt settlement plan for your business with the IRS or Texas Comptroller of Public Accounts.
- Avoid late fees and high interest charges. A tax debt relief attorney can work quickly to help you address your tax obligations without accumulating additional late fees and other penalties.
- Remove additional charges. Over time, your debt likely accumulated interest, and the IRS probably applied fees and penalties for various things as your debt remained unpaid. Your attorney could have some of these penalties and interest discharged, reducing your overall tax obligation.
- Handling liens. If the IRS has placed a lien on your property, a tax relief attorney can help you identify possible ways to remove the lien.
Avoid Costly Compounding Interest
Resolving your tax debt as quickly as possible is essential because you will save interest charges that are compounding daily on your unpaid taxes and penalties. The Law Offices of Bill F. Payne, P.C. are available to help you with your tax-related legal concerns. If your business is delinquent on its taxes contact the Law Offices of Bill F. Payne, P.C. today to schedule a consultation with a bankruptcy attorney. Bill F. Payne has decades of experience helping Texas clients with their tax-related legal issues. If you need a tax debt lawyer in Dallas, contact the Law Offices of Bill F. Payne, P.C. today to schedule a free consultation.