IRS Payment Agreement Illinois
When you owe money to the IRS, you know that the situation can be serious. You may be facing a large sum of money that includes both an original payment and interest that you owe. You might have made a mistake on your taxes, failed to file your taxes on time, or might owe money that you can’t afford to pay. Regardless of the reason, you could benefit from an IRS payment agreement in Illinois. At DMT Law Group, we have experience working with the IRS on behalf of our clients to get the best possible resolutions.
What If I Owe Money to the IRS?
The IRS has the power of the Federal government and has many rules and regulations in place that apply to those who owe money. If the IRS determines that you owe money, they could take actions against you which could result in serious penalties. The thing to keep in mind is that you should not ignore the IRS. If you fail to respond to their requests or demands, you will lose the time that you need to resolve the situation. Then, seek legal guidance from an experienced tax attorney. You may be eligible for an IRS payment agreement in Illinois.
What is an IRS Payment Agreement?
The IRS expects to obtain full payment for any monies you owe. They could take steps to get the money back and they won’t stop. The best way to avoid further action and to prevent them from taking your resources is by working to get an IRS payment agreement in Illinois. A payment agreement acknowledges that you owe money and makes arrangements for you to repay the sum in a manner that works for your budget. One of the best ways to achieve a favorable agreement is with help from a skilled tax attorney. Our team of professionals has experience working on behalf of our clients to obtain the best results possible.
Benefits of an IRS Payment Agreement in Illinois
There are several critical benefits of obtaining an IRS payment agreement. If you have the ability to repay the owed amount over a period of time, the agreement will give you relief. Once you put the plan in place, the IRS will no longer continue to come after you for payments. You won’t have to stress about potential liens or other penalties. If you owe back taxes, you won’t incur any additional fines. You can extend the payments and create a payment plan that allows you to make regular payments that fit into your budget. As long as you continue to make the payments as per your agreement, the IRS will honor your promise to pay and won’t take further action.
An IRS payment agreement in Illinois can give you some peace of mind and prevent you from getting into further debt and trouble with the Federal government. At DMT Law Group, we offer a wide variety of legal representation, including for complex and challenging tax matters. Contact Desanto & Morgan Law Firm online or by phone at (847) 816-8100.