California’s Trusted Business Tax Workouts Attorney
Are your business debts spiraling out of control? If you are in a distressed situation and unsure what to do, you’ll be glad to learn that filing bankruptcy is not the only debt relief plan you can focus on.
If your tax obligations have gone out of hand, you need an attorney familiar with tax complexities and bankruptcy-related setbacks to guide you if you are successfully resolving issues with the IRS.
With more than 15 years’ worth of experience, attorney Brian Coggins is ready to assist businesses in the Northern California area struggling with tax debt, to plan and meet their tax obligations. With a vast understanding of federal, state, and local tax obligations, you can trust attorney Brian Coggins to negotiate a workout for your business’s tax obligations skillfully.
If your business’s tax problems are interrelated with bankruptcy proceedings, you can rest easy knowing that your legal representation is in capable hands that have been dealing with the IRS on tax relief issues for years.
Understanding Business Tax Workouts
A business tax workout allows a tax defaulting business to restructure and renegotiate terms with the IRS rather than facing foreclosure lawsuits or filing for bankruptcy. As a result, businesses that owe taxes to the Internal Revenue Service can turn things around by making their tax payments in arrears.
The IRS will only enter into an offer in compromise (OIC) with a business if the business can suitably demonstrate the ability to pay its tax arrears during the offer in compromise pre-qualifiers. In this workout agreement, the IRS will allow businesses to pay tax sums less than the amount owed. Having an insightful tax workout attorney handle your taxes makes a lot of difference for your business since negotiations on the modification of your business’s tax debts are expertly done, thus taking the likelihood of your business filing for bankruptcy off the cards.
If your California business runs into trouble with the IRS, attorney Brian Coggins is ready to help your tax defaulting business secure an offer in compromise that will see your business remit partial payments of your tax debt and avoid foreclosure threats.
What You Need to Know About Bankruptcy and Alternatives
In recent years, the IRS’s handling of businesses not compliant with their tax disclosure, tax filing, and tax payment obligations has changed. Stringent directives, such as wage garnishment orders and tax enforcement by the agency are affecting businesses, even forcing some businesses in elevated debt levels resort to filing for bankruptcy.
The IRS is willing to accept offers in compromise as tax debt collection solutions. By tapping into this IRS collection alternative, businesses with considerable tax debts could have their State or Internal Revenue Service tax debts reduced. Usually, an experienced tax attorney representing your business will negotiate with the taxing agency, thus lowering your tax bill with an offer in compromise. Typically, the direct impact of either filing for bankruptcy or going for an offer in compromise will tend to be the same once this is done.
Consequently, even in a tax situation where a business’s tax debt is insurmountable, the IRS cannot carry out debt collection on your California business when considering your business’s offer on compromise. As businesses negotiate with the IRS, possible tax consequences such as property seizure, harassment of your business, tax levies, and wage garnishment are usually put on hold.
A Reputable Northern California IRS Offer in Compromise Tax Lawyer Is a Must-Have
A major pitfall for business owners is making offers in compromise nervously without employing an experienced tax attorney’s business workout acumen. A professional tax attorney will deliver customized advice necessary to you as a business owner to make your tax workouts with the IRS pull-through. Unfortunately, for most of the offers by laypeople going it their own way, most of their applications are not processed, and those that are processed often get rejected.
If you are a business owner seeking debt relief to bring back your business in Northern California and the surrounding areas, Coggins Law is here for you. Having successfully handled business workouts for over fifteen years, attorney Brian Coggins will employ his expertise in crafting solutions for any tax problems your business might have.
Consult with an Experienced Tax Attorney Serving Northern California for IRS Tax Workouts
With over 15 years of experience as an IRS offer in a compromise tax attorney, Brian Coggins will give your customized legal tax solutions should your business run into problems with installment agreements, collectible statuses, offers in compromise, and statutes of limitation on tax collection.
By working with the federal and state tax authorities and using his knowledge in legal tax solutions, attorney Brian Coggins offers customized tax work out solutions that will put your business’s tax problems to an end once and for all.
By applying the law skillfully in demonstrating financial circumstances, attorney Brian Coggins will be sure to arrange for a more suitable offer in compromise based on your business’s ability to pay.
To schedule a free consultation, contact Coggins Law office online or call +1 (916) 270-2895 today.