Strategies for Taxes Owed
Offers in Compromise • Bankruptcy • Installment Agreements • Innocent Spouse
When you still owe the IRS a substantial sum after appeals are exhausted, our skilled tax lawyer can help reduce that burden — often by thousands or tens of thousands of dollars.
Explore Your Options for Resolving Back Taxes
Veteran tax attorney Arthur Boelter advises on the most advantageous approach for a given situation. He counsels individuals and small businesses in the Seattle, Washington area, statewide and nationwide. Call (206) 587-0000 for an appointment.
Offer in Compromise
When there is doubt about the collectibility of a tax debt, the IRS is willing to haggle. The myth of "pennies on the dollar" is rarely the reality, but offers in compromise can commonly cut the liability by half or more (a major victory if you owe $100,000). The offer in compromise is not an option if assets and income are too high — the IRS will insist that you sell off holdings or refinance to pay the tab. Arthur H. Boelter skillfully negotiates to obtain the best deal for his clients.
Installment Agreements
We generally recommend against paying taxes over time. With the interest assessed by the IRS, it's like putting your tax bill on a credit card. It may be more advisable to liquidate assets to pay the debt and be done with it. Arthur H. Boelter can advise on when installment agreements make sense.
Bankruptcy
With strategic planning, certain back taxes can be wiped out completely through bankruptcy. The timing is key — clients must be far enough removed from the year taxes were owed with no significant non-exempt assets that would derail the petition. Arthur H. Boelter can typically get the tax case into "uncollectible status" or arrange a payment plan to buy time until it's safe to declare bankruptcy. Boelter & Associates recently enabled one client to discharge over $200,000 — her entire tax debt.
Innocent Spouse
If you are the unintended victim of your former spouse’s tax liability call us. There is relief available. Properly presented, an innocent spouse may be relieved of all tax penalties and interest.
For more information about the pros and cons of an offer in compromise or other tax relief strategy, contact Boelter & Associates at (206) 587-0000.
