We are tax law specialists with years of experience dealing with the IRS and state tax agencies such as the Oregon Department of Revenue. When it comes to tax controversies, nobody fights to protect your rights more aggressively than London & Paris.
When you owe money to the IRS, we understand how stressful it is to open a tax collection letter with threats to seize your assets and file tax liens that can ruin your credit. You've probably encountered hundreds of advertisements from large, nationally syndicated tax resolution firms promising to settle your tax debts for pennies on the dollar. It's tempting to give in to the hype when you can't see another way out, but remember, these companies know how to play on your hopes and fears. Many of these firms are nothing more than "Offer in Compromise mills"—eager to submit offers for hundreds of clients, knowing full well that only a small percentage will be accepted. If you want an honest, accurate assessment of your prospects for submitting a successful Offer in Compromise, you need someone you can trust. We know how to negotiate the best possible deal for you, and we won't waste your time and money with offers that have no chance of being accepted. We offer free consultations and flat-fee arrangements for Offers in Compromise. Send us a message for more information.
Depending on your financial circumstances and the amount you owe, the IRS offers several different types of installment agreements to pay your balance. The most common type, known as a "streamlined installment agreement" is available to taxpayers with a total balance of less than $50,000 who can satisfy the entire delinquency in six years or less. If your balance is too high to qualify for a streamlined installment agreement, or if you're unable to afford the payments under the streamlined procedures, you'll need to negotiate a monthly payment plan with the IRS. To do this, you must submit a financial statement and provide evidence of your household income, assets, and living expenses. Unless you understand the complicated rules and procedures governing financial statement analysis, you risk paying more than the minimum amount required.
The Oregon Department of Revenue also offers payment agreements to delinquent taxpayers, but on much less favorable terms than those offered by the IRS. Unless you can demonstrate financial hardship, the Department of Revenue will require you to pay your entire balance, regardless of amount, in just 12 months. The Department of Revenue has little regard for taxpayer rights and is extremely aggressive when it comes to tax collections. At London & Paris, we are passionate about doing what it takes to protect you from abusive tax collection practices.
The IRS imposes harsh penalties on taxpayers who fall behind on filing their tax returns or making tax payments. With the assistance of competent counsel, you may be able to escape those penalties by showing "reasonable cause" for your failure to comply with the tax laws. If your failure to file tax returns or pay taxes was due to illness, death of a loved one, financial hardship, or other unusual circumstances, you have the right to request relief. In some cases, we've been able to help clients erase very large tax penalties (in excess of $500,000) through determination and aggressive advocacy. Whether you've been hit with state or federal tax penalties, contact us today to discuss your options.
If you've undergone an audit that resulted in tax to pay, whether state or federal, you have the right to appeal to a specialized tax court to contest your liability. We specialize in taking on the complicated cases, utilizing novel arguments and procedural tactics to protect you from crippling tax assessments.
Under certain circumstances, you may also appeal IRS or state collection activities in tax court. It's important to be aware of your rights, be proactive, and carefully plan your attack. In tax court litigation, you as the taxpayer are the plaintiff. London & Paris can show you how to use the tax laws, regulations, and administrative procedures to your advantage.
Many taxpayers are unaware that outstanding tax debts can be discharged in bankruptcy under certain circumstances. The law surrounding the treatment of taxes in bankruptcy is highly complicated and requires specialized skill. In general, you may be a candidate for bankruptcy if all or some of your tax debts meet certain criteria. In order to qualify for a bankruptcy discharge: (i) the tax return that gave rise to the tax debt must have been due at least 3 years prior to filing for bankruptcy, (ii) the tax return that gave rise to the tax debt must have been filed at least 2 years prior to filing for bankruptcy, and (iii) the tax debt must have been assessed at least 8 months prior to filing for bankruptcy.
Although these criteria sound straightforward, they involve many highly technical definitions and hidden traps for the unwary. In addition, every jurisdiction has different rules regarding the discharge of tax debts in bankruptcy, and this area of law is constantly evolving. Contact London & Paris to determine whether a tax-driven bankruptcy is right for you.
Whether you owe back taxes or would like to structure your affairs to minimize your tax bill, contact us to schedule a free phone consultation.Get in Touch