Options for Outstanding Balance
Experienced Tax Attorneys in the Twin Cities, Minnesota
If you have outstanding tax liabilities of $20,000 or more, it is important to know that you have options. At the law firm of Pridgeon & Zoss, PLLC, we use our in-depth knowledge of federal and Minnesota tax law to find workable solutions to resolve your tax debt problem.
Outstanding Balance Solutions
Our firm will work with you, reviewing your payment stubs, bank account information and all relevant financial documents, and preparing the required financial statement. We will interface with the IRS or the Minnesota Department of Revenue to:
- Establish an installment payment agreement: We collect the financial information from you that the IRS will require and work to create a payment plan that will work for you. Most installment payment agreements are kept to five years or less but in some instances, the IRS will accept an agreement that calls for one payment amount for a limited time with a reevaluation of the payment amount after time.
- Have the debt classified as uncollectible: If your financial situation simply will not allow for any payment, we will request that the IRS or the Minnesota Department of Revenue classify the debt as uncollectible. We have experience setting forth the evidence required to satisfy the IRS or Department of Revenue in these situations.
In the event the underpayment of taxes is wholly the fault of one spouse, our firm can work with the IRS or Minnesota Department of Revenue to absolve the innocent spouse of the tax liability or establish an equitable payment plan. This situation may arise when the parties have divorced or separated, or when one spouse simply had no knowledge – and could not reasonably have been expected to have knowledge – of the underreporting of income or overstating of expense.
If you are faced with an outstanding tax balance of $20,000 or more, we can help you chart a course of action to repayment. Contact us online or by phone at 952-232-0371 to speak with an experienced tax lawyer. Our office is open during regular business hours and you can leave us a voice mail at any time. We offer a free initial half-hour consultation to review your situation; we will give you an honest appraisal of whether we can help and what your best legal options may be.
7301 Ohms Lane, Suite 420
Edina, MN 55439
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