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 statements and all relevant financial documents and information, and preparing the required financial statement. We will interact 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 to speak with an experienced tax lawyer. 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.
From offices in Edina and St. Anthony, our tax lawyers advise and represent clients in communities throughout Minnesota and Western Wisconsin. If you are facing a significant tax liability of $20,000 or more, contact the firm for a no-cost half-hour initial consultation with Minneapolis attorney for tax penalties at Pridgeon & Zoss, PLLC today. Contact us online or by telephone. Within the Twin Cities metro area, call 952-232-0371 or 612-455-8948; or call us toll free 877-221-1651 if you are located outside of the Twin Cities metro area. You may also use the convenient email contact form to explain your circumstances and request a consultation.
Weekday office hours are 9 a.m. to 5 p.m. in our Edina office, and 10:00 a.m. to 4:00 p.m. in our St. Anthony office. Evening and weekend appointments may be available by special arrangement.