If your company owes the IRS a considerable amount of money, there are a variety of tax relief options that may help you repay your debt. The tax lawyers at Pearson Butler can help you find the best solution to your company’s tax debt and can negotiate the best arrangements for you. Once the firm is on the case, tax relief will no longer seem impossible. One such option for business tax debt relief is an installment agreement.
An installment agreement is a contract between you and the IRS to pay back your tax debt in monthly payments, much like monthly payments for other forms of debt like credit cards or loans. Installment agreements will allow you to repay your company’s tax debt over time, making your finances much more manageable. Installment agreements are a good choice for businesses who do not meet the requirements for other tax debt relief options, like an offer in compromise.
Interested in finding out if you qualify? Call (800) 265-2314 to schedule an initial consultation.
Qualifying for an Installment Agreement with the IRS
Depending on the amount of tax debt your business has accrued, you may qualify for different payment plans:
- You may be able to apply for a short-term or long-term payment plan online if your company owes less than $25,000 in taxes, including penalties and interest. A short-term payment plan lasts less than 120 days, and a long-term plan lasts longer than 120 days.
- You will need to fill out and file Forms 9465 and 433-F with the IRS if your business tax debt exceeds $25,000. With this type of application, you may be eligible for a payment plan spanning up to 72 months.
Do I Need an Attorney?
Tax debt can have very serious consequences for any company if not resolved properly. Due to the complicated nature of tax law, it is difficult to learn all your options and know what solutions are best for you and your business. Working with an attorney can provide you with an easy and stress-free solution to an otherwise complicated and serious problem. Lawyers can prevent drastic measures from being taken against you, which could threaten everything you’ve worked so hard to build.
Tax attorneys are recommended over other tax professionals because tax laws are complicated and frequently change. Business owners attempting to negotiate personally with the IRS will face a mountain of complicated paperwork and a maze of bureaucracy to navigate. A lawyer can ensure you are making the most of the laws available to help you and ensure that you can work toward a solution that allows your company to flourish.
Seasoned Tax Lawyers Serving Businesses in Utah
The attorneys at Pearson Butler have more than 300 years of collective legal experience. When you come to Pearson Butler for business tax needs, you will receive specialized attention and care to reach the best possible outcomes. Pearson Butler has the resources and personnel to handle anything the IRS may throw your way.
Call (800) 265-2314 now to get started!