Negotiating Installment Agreements and Offers in Compromise
State and federal tax authorities have broad tax collection powers. These agencies also have processes in place for individuals and businesses to resolve tax liabilities for substantially less than the amount assessed.
At the Law Office of Williams & Associates, P.C., our practice focuses on tax law issues such as resolution through offers in compromise and installment agreements. From our office in Sacramento, our attorneys represent individuals and businesses from California, throughout the United States and abroad.
Understanding Offers In Compromise And Installment Agreements
An offer in compromise is an arrangement that resolves a tax liability by paying less than the full amount you owe. Tax authorities are willing to accept offers in compromise to avoid the cost of litigation, especially in cases when:
- There is doubt as to the accuracy of your tax liability.
- There is doubt as to whether you can pay the tax debt.
- Payment of the debt would cause an undue hardship to you.
A person who is considered a “responsible officer” of a business with employment tax debts may need to file two offers in compromise: one for the business and one for the individual.
It takes time to incur a significant tax liability, and it can take time to resolve it. Our lawyers negotiate streamlined agreements, partial payment agreements, and installment agreements for individuals and businesses. We have a successful track record negotiating agreements with the tax agencies that allow businesses to continue to operate despite having a significant tax liability.
Our attorneys also represent individuals and businesses that are in default of installment agreements. These agreements can often be reinstated if the default is promptly cured.
We Help You Resolve Your Tax Issues
We can reduce the distraction of your tax matters so you can focus on running your business. To discuss your tax matters with one of our attorneys, call our Sacramento office at (916) 488-8501 or toll-free at (800) 684-7147, or use our online contact form.