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Installment Agreements: TAX DEBT PROBLEMS IN Hartford, CT
IRS and state tax problems can build quickly through the addition of interest and penalties. Left unaddressed, small tax problems can swiftly become large and seemingly overwhelming obligations that can take on a life of their own. Fortunately, many good options exist for preventing these IRS and state tax problems from getting larger, while allowing for manageable payment plans through guaranteed and negotiated tax installment plans.
At the Law Offices of Neil Crane, we've been providing tax solutions to our Hartford County clients since 1983.
Tax Installment Agreements These periodic tax re-payment arrangements come in the form of various plans that need to be properly customized to the type and amount of your tax debt, as well as your overall income level.
Streamlined Installment Agreements allow for payments of federal tax debts under $50,000 payable in equal monthly installments over six (6) years or 72 months.
Non-Streamlined Installment Agreements cover obligations for federal taxes that exceed the $50,000 limitation for streamlined agreements or cannot be paid within the six year/72 month period allotted for streamlined agreements. These require negotiated settlements with the Internal Revenue Service; and therefore need to be carefully crafted based upon individual taxpayer circumstances and reasonable IRS expectations.
Installment Agreements Prevent Tax Liens, Tax Levies and Seizures
The proper application and granting of an Installment Agreement will prevent the IRS from liening property or levying assets, including bank accounts and personal property. This allows relief and time for proper repayment plans. These arrangements can also protect your business from tax liens or levies in order to allow for organized repayment terms under a granted Installment Agreement.
To learn more about the various options that may be available to resolve your tax issues, call the experienced and resourceful Hartford tax debt attorneys today at 203-230-2233 or toll free at 1-888-249-3027 to speak with us personally and set up your free consultation.