Woodland Hills Offer in Compromise Lawyer| Van Nuys IRS Debt Attorney

While some taxes may be dischargeable in bankruptcy, our clients have options after bankruptcy if they are not dischargeable. One option that we provide to our clients is formulating, drafting and submitting an offer in compromise.

Offer in Compromise

Nothing is scarier than the I.R.S. and receiving a Notice of Federal Tax Lien. The I.R.S. can garnish your wages, intercept your tax refunds and levy your bank accounts if you disregard their warnings. A wage garnishment will not only look bad with your employer, but also disrupt your life. However, an offer in compromise may decrease this burden by settling your tax debt for less than the full amount owed. At the Law Offices of Michael H. Raichelson, we assist our clients with offers in compromise with the ultimate goal of compromising your tax debt to suit your needs.

While submitting an offer application does not guarantee that the I.R.S. will accept your offer, it starts the process and informs the I.R.S. of special circumstances which impact your ability to pay your I.R.S. debt in full. Note that the I.R.S. will not settle if it appears that you can pay your tax debt in full via an installment agreement or lump sum. So, you need to hire experience counsel when navigating the offer in compromise waters.

Eligibility

To be considered for an offer in compromise, you must 1) file all of your tax returns; 2) make all estimated payments for the current year; and 3) make all required federal tax deposits for the current period if your are business owner with employees. If you are in a current bankruptcy, you are not eligible to apply for an offer in compromise.

Other Important Information

A Notice of Federal Tax Lien grants the government a legal claim to your property for security for the tax debt. If a Notice of Federal Tax Lien has not been filed before you submit an offer in compromise, a lien will generally not be filed while your offer in compromise is being evaluated. However, penalties and interest continue to accrue during the evaluation period.

Also, if you are in an approved installment agreement with the I.R.S., you can stop making the installment payments when you submit the offer in compromise.

If you owe a tax debt and want to learn more about an offer in compromise, contact the Law Offices of Michael H. Raichelson for a free consultation.

I was in a really horrible place financially after the collapse of my business due to the economic recession. A friend referred me to the law offices of Michael Raichelson. At the very first meeting Mr. Raichelson put me at ease, assessed my situation and informed me that bankruptcy was the best option and told me he would guide me through the entire process. Everything went so smoothly and I'm so grateful to Michael and his staff for their support and successful resolution of my case. 'm now off to a brand new start and life! R.B
If you are going through a bankruptcy this is the attorney to use. He is a thorough, caring and most of all a patient attorney who knows how to get the job done with no surprises. I highly recommend him and would hire him again. N.K.
We are extremely satisfied with how Mike handled our case. After consulting with numerous lawyers about our bankruptcy filing, we picked Mike because he proposed a bankruptcy filing strategy for our situation that was most favorable to us than other's proposal. He is knowledgeable, professional, courteous, responsive and got the job done quickly. He completely looked after our best interest and delivered results as he had promised from the initial consultation.
S.P.
Manager, Employer Contracts
HNCA
When my husband became permanently disabled and unable to work any longer we were devastated. We had bills, like every American does, that were not going to be able to be paid with the loss of income. When I found out that I was going to be laid off from my job we didn't know what we were going to do. After speaking to an attorney locally I was very discouraged and didn't think we were going to have any hope at all with our bills. I then looked online and found Michael Raichelson. My husband and I went to speak with him and boy did he put our mind at ease. We left his office feeling that there was hope and a way out. He was the biggest help in making us feel assured that all was going to be okay. The process was fast and painless and I believe this was due to the professionalism and good work of Michael and his firm. We were blessed to have found Michael and even further blessed to get the help we needed.
K and J
To Whom it May Concern:
As clients of Michael H. Raichelson, my wife and I are extremely pleased to recommend his services.
When we first met Michael, our situation was pretty grim. Health problems, unemployment, and a drastic drop in the value of our house had turned our lives upside down. We just couldn't pay our bills.
Credit counseling and our research on the internet made it clear that bankruptcy was inevitable. What wasn't clear was what bankruptcy would mean for us. We felt like we were being pushed over the edge and would lose everything. Fortunately, that's when we were referred to Michael.
Michael understood what we were going through. Due to his experience with the court where we had to file and his knowledge of current, real-world conditions with creditors and banks, he was able to explain exactly what would happen and when. After our first meeting, we felt like a tremendous physical weight had been lifted from our shoulders. We felt like we were in control of our lives again.
Today, everything has unfolded just as Michael had told us it would. We are debt free and enjoying a fresh start. We strongly urge anyone faced with bankruptcy to have Michael help them as he has helped us.
Sincerely,
R.F.D

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The Law Offices of Michael H. Raichelson
6400 Canoga Avenue
Suite 352
Woodland Hills, CA 91367
Phone: 818-921-7306
Toll Free: 888-367-5012
Fax: 818-444-7776
Woodland Hills Law Office

The Law Offices of Michael H. Raichelson
1000 Town Center Dr.
Suite 300
Oxnard, CA 93036
Oxnard Law Office

SuperLawyers NACBA National Association of Consumer Bankruptcy Attorneys

The Law Offices of Michael H. Raichelson in Woodland Hills, California, serves bankruptcy clients in the San Fernando Valley (The Valley) region of Southern California, including Los Angeles, Burbank, Glendale, San Fernando, Hidden Hills, Calabasas, Encino, Sherman Oaks, Van Nuys, Ventura, Simi Valley, West Hills, Oak Park and Agoura Hills. We serve all communities in Los Angeles County and Ventura County.