Illinois
Illinois Tax Attorneys
Filing income taxes accurately and on time is indeed a requirement for all individuals in Illinois and throughout the United States. The Illinois Department of Revenue oversees state tax matters, while the Internal Revenue Service (IRS) handles federal tax issues.
When facing tax problems in Illinois, consulting with a tax attorney can be beneficial. The tax attorneys at Anderson Bradshaw have specialized knowledge in tax law and can provide comprehensive advice and solutions tailored to your specific situation.
They can assist with various tax issues, such as audits, tax debt relief, negotiation with tax authorities, and resolving disputes. Anderson Bradshaw provides tax debt relief services and assists clients with a wide range of tax problems.
It is recommended you contact their office directly to discuss your specific circumstances and determine if they are the right fit for your needs. It is also essential to consult with a qualified tax professional or attorney to obtain accurate and up-to-date advice based on the current tax laws and regulations in Illinois.
Offers in Compromise
An offer in compromise is an option for taxpayers to settle their tax debt for less than the full amount owed. The IRS considers various factors, including a person’s ability to pay, income, expenses, and asset equity, in determining whether to accept an offer in compromise.
To be eligible for an offer in compromise, you generally need to have filed all required tax returns, made all required estimated tax payments, and not be involved in an open bankruptcy proceeding. Additionally, employers need to have made tax deposits for the current and past two quarters before applying.
If the IRS is unable to process an offer in compromise application, they will return the application, offer application fee, and apply any payment included to the outstanding balance. The payment options for an accepted offer in compromise include lump sum cash payments or periodic payments, depending on the individual’s financial situation.
Low-income certification guidelines exist, which, if met, can waive the application fee, initial payment, and monthly installments while the IRS reviews the offer.
If an offer in compromise is rejected, taxpayers have the right to appeal within 30 days using Form 13711 (Request for Appeal of Offer in Compromise). The IRS Independent Office of Appeals can provide additional assistance in the appeals process.
It’s worth noting that the offer in compromise program can be complex, and seeking professional assistance from a tax attorney or qualified tax professional is advisable to navigate the process effectively and increase the chances of a successful outcome.
Stopping Tax Levies & Liens
A tax lien has a purpose of protecting the government’s interest in property when a person fails to pay a tax debt. In Illinois, the Illinois State Tax Lien Registry is the online system used for notices of tax liens filed or released by the Illinois Department of Revenue.
Regarding the release of liens, the IRS provides information on their website. The IRS is required to release levies in certain circumstances, such as when the taxpayer has paid the full amount owed, the collection period has ended before the levy was issued, releasing the levy would help the taxpayer pay their taxes, the taxpayer has entered into an Installment Agreement that does not allow for the levy to continue, the levy would create an economic hardship preventing the taxpayer from meeting basic living expenses, or the value of the property exceeds the amount owed, and releasing the levy would not hinder the IRS’ ability to collect the debt.
If the IRS denies a request to release a lien, taxpayers have the right to appeal the decision. It is important to note that tax lien cases can be complex, and seeking legal assistance is advisable to navigate the process effectively. Tax attorneys or qualified tax professionals can provide the necessary expertise to help individuals with their tax lien matters.
IRS Audit Defense
The Illinois Department of Revenue handles state tax audits, while the IRS is the federal agency responsible for audits across the country. Audits can be triggered by various reasons, such as significant errors on tax returns, failure to report all income, or excessive charitable donations.
Receiving an audit notice is a serious matter, and it is advisable to consult with a lawyer at Anderson Bradshaw promptly. They can provide guidance and representation throughout the audit process.
For federal audits conducted by the IRS, the general timeframe for assessing additional taxes is three years. However, exceptions can be made in cases of substantial errors.
In situations where individuals require IRS tax debt relief related to an audit, seeking assistance from professionals like Anderson Bradshaw can be beneficial. Tax attorneys experienced in handling IRS audits can help navigate the complexities of the audit process and work towards resolving any tax debt issues.
Unfiled Tax Returns
Failure to file tax returns, make payments, underpaying the amount due, filing or paying late, or owing additional taxes discovered in an audit can lead to issues with both the Illinois Department of Revenue and the IRS. The penalties for failure to file or pay taxes can vary depending on the specific circumstances.
For federal taxes, the IRS may impose failure to file penalties of up to 5 percent of the net tax due per month or part of a month, with a maximum penalty of 25 percent of the unpaid tax. The failure to pay penalty is generally 0.5 percent of the unpaid tax per month or part of a month.
It is important to note that the IRS encourages individuals to file their past due tax returns as soon as possible. By doing so, you can avoid accruing further interest and penalties.
Additionally, filing your tax returns on time can help protect your Social Security benefits, prevent issues when applying for loans, and minimize the risk of collection and enforcement actions by the IRS. If you are facing challenges related to unfiled or unpaid taxes, it is advisable to seek professional assistance from tax attorneys or tax resolution firms like Anderson Bradshaw.
They can provide guidance on resolving your tax issues, minimizing penalties, and developing a plan to address your tax obligations.
Innocent Spouses
Innocent spouse relief can be available when a joint tax return is filed, and one spouse understates taxes without the knowledge of the other spouse. Innocent spouse relief is designed to relieve one spouse from being held responsible for the tax debt resulting from the other spouse’s errors or underreporting.
In order to qualify for innocent spouse relief, the filing spouse must demonstrate that they had no actual or constructive knowledge of the understatement of taxes. They must also show that it would be unfair to hold them liable for the tax debt.
This is typically determined through a review of the facts and circumstances surrounding the tax return and the couple’s financial situation. It is important to note that innocent spouse relief must be sought within two years of an IRS collection action, such as a notice of intent to levy or a notice of tax lien.
The process of obtaining innocent spouse relief can be complex and challenging, so it is advisable to seek legal assistance from a tax attorney or tax professional experienced in handling innocent spouse cases. A qualified tax professional can help you understand the requirements for innocent spouse relief, gather the necessary documentation, and guide you through the application process.
They can also provide representation in dealing with the IRS and advocate for your rights to obtain relief from the tax debt.
Contact Our Illinois Tax Attorneys
If you are facing a significant tax problem in Illinois, it is advisable to seek professional assistance as soon as possible. Anderson Bradshaw, with its extensive experience in handling various tax issues, can be a valuable resource for you, and our tax attorneys provide IRS tax help for residents all over Illinois including Chicago, Aurora, Joliet, Naperville, Rockford, Elgin, Springfield, Peoria, Waukegan, Champaign, and more.
A tax attorney from Anderson Bradshaw can provide you with expert guidance and representation, helping you navigate through complex tax laws and regulations. They can assess your specific situation, develop a tailored strategy, and work towards securing the relief you need.
Whether you are dealing with tax debt, tax audits, liens, penalties, or other tax-related challenges, Anderson Bradshaw can provide you with comprehensive assistance. Their team of experienced tax professionals understands the intricacies of the tax system and can help you explore all available options to achieve the best possible outcome.
It is important to address tax problems promptly to avoid further complications and potential legal consequences. By seeking the help of a reputable tax firm like Anderson Bradshaw, you can gain peace of mind knowing that you have dedicated professionals working on your behalf to resolve your tax issues effectively.
To initiate the process, you can reach out to Anderson Bradshaw by calling their phone number (877) 986-1156 or contacting our Illinois tax attorney online to schedule a free consultation. During the consultation, you can discuss your specific tax situation and learn more about the services they offer.
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