Author: The Law Offices of Nick Nemeth

Answering 4 FAQs about IRS Tax Lien Assistance

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Tax Lien Assistance with The Law Offices of Nick Nemeth

A tax lien is a claim made by the government on an individual’s personal or business assets when you neglect or fail to pay the tax debt. It can be brought against your asset by the Internal Revenue Service (IRS), the state, or the local authority. A tax lien does not give the government the right to seize your property, unlike in a tax levy. However, it does allow them to force you to sell or liquidate your assets to collect what you owe. A tax lien can negatively affect your credit if not properly handled. To help get you

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5 Tips to Follow when Requesting an IRS Offer in Compromise

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IRS Offers in Compromise with The Law Offices of Nick Nemeth

Many taxpayers face certain situations or circumstances wherein they are unable to pay off their tax debts. In such cases, the IRS has a number of tax debt relief options. One such option is an Offer in Compromise (OIC), which is an agreement between a taxpayer and the IRS that allows the taxpayer to settle any tax liabilities for an amount lesser than the actual unpaid amount. If you owe a large sum of money to the IRS and do not have the means to pay the amount in full, you can always request an Offer in Compromise to settle

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Answering Frequently Asked Questions about Payroll Tax Problems

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How to Pay IRS Payroll Tax with The Law Offices of Nick Nemeth

Every employer is required to timely report and pay payroll taxes, for which they must accurately record the total income of their employees and the amounts withheld. Although understanding all the steps involved in preparing and filing payroll tax returns is important in avoiding mistakes, it is equally important to resolve common questions related to payroll tax problems. Having said that, in this blog, we answer some frequently answered questions about payroll tax problems. Take a look. What are possible payroll tax problems? Employers, by law, are required to withhold three separate types of taxes from their employees. In case

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A “Reasonable Cause” for IRS Penalty Abatement: What Does it Mean?

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IRS Penalty Abatement with The Law Offices of Nick Nemeth

Penalty abatement is a provision that allows taxpayers to remove penalties and interests imposed on them for unpaid taxes by the IRS. Taxpayers who have unfiled or unpaid tax debts and have a “reasonable cause” for the noncompliance, can apply for penalty abatement relief. It is, however, important to know that the abatement does not reduce the actual tax amount; it only removes the penalties or interest. Another aspect to remember is that there are a set of causes that are considered to be reasonable enough to waive off a penalty or interest. Continuing on the subject, in this blog

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Wondering How to Pay Payroll Taxes to IRS? Read This Now

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IRS Payroll Tax with The Law Offices of Nick Nemeth

Every employer must report and deposit payroll taxes on time. The IRS mandates employers to provide an accurate record of the total income of employees and the amounts withheld. It is, therefore, important for employers to know the steps involved in preparing and filing IRS payroll tax returns to avoid mistakes that can have serious repercussions, including heavy penalties. Continuing on the subject, in this blog post, we explain the basics of payroll taxes and how to pay payroll taxes to the IRS. Take a look. Taxes Included in Payroll Taxes There are three major types of taxes that are

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A Brief Guide on How to Get Assistance Regarding a Tax Lien

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IRS Tax Lien Help with The Law Offices of Nick Nemeth

Paying off tax debts is a fundamental obligation that everyone with a taxable income must fulfill within the timeline determined by the IRS. If a taxpayer neglects or fails to pay their tax debt, the IRS has the right to exercise a number of collection practices that include putting a lien on the defaulter’s income, bank accounts, and other assets. Although you can take the DIY route to resolve IRS tax lien, it is always advisable to consult an IRS attorney who specializes in handling tax problems. If you are wondering how to get assistance regarding a tax lien, this

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Why Hire a Professional to Help with IRS Tax Debt

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IRS Tax Debt Relief with The Law Offices of Nick Nemeth

Facing IRS tax debt problems is every taxpayer’s worst nightmare. Although one can always take the DIY route to deal with IRS tax debt problems, it is advisable to hire an experienced tax attorney, who can help and resolve IRS tax problems.  If you are facing an IRS tax debt issue and need professional help, look no further than the team at the Law Offices of Nick Nemeth. Continuing the discussion, in this blog post, we cover three reasons why you need to hire a professional to help with IRS tax debt. Read on. In-Depth Knowledge Tax attorneys are trained

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Need Help with Filing Unfiled Tax Returns? Read This Now!

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Unfiled tax returns with The Law Offices of Nick Nemeth

Every year, taxpayers are required to file their IRS tax returns within the stipulated timeline. There are times, however, when taxpayers are unable to clear their dues and end up with heavy penalties and interests. Whether a taxpayer forgets the deadline, doesn’t have the finances to pay the owed taxes, or has a history of unfiled taxes, the IRS has different tax relief options to help them overcome settle their dues. Continuing on the subject, in this blog post, we focus on how to go about filing unfiled tax returns. Read on. Filing Unfiled Tax Returns Collate all Documents The

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Understanding Reasonable Cause for IRS Penalty and Interest Abatement

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IRS Penalty Abatement with The Law Offices of Nick Nemeth

The IRS tax penalty abatement is a provision that allows taxpayers to remove late payment penalties and interests imposed by the IRS for unpaid taxes and delayed tax reporting and payment. If you have unfiled or unpaid tax debts and have a “reasonable cause” for the noncompliance, you can apply for penalty abatement relief. The abatement, however, does not reduce the actual tax amount; it only removes the penalties or interest charged by the IRS. Continuing on the subject, this blog covers all you need to know about IRS penalty and interest abatement. Read on. What is IRS Penalty Abatement?

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Got Unfiled Tax Returns? It’s Never Too Late for Redemption!

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Unfiled Tax Returns with The Law Offices of Nick Nemeth

Taxpayers are required to file their tax returns once every year to document their finances and the taxes paid during the year. Some taxpayers, however, go past the due date of filing tax returns and end up facing various penalties, interests, and even have to face legal consequences. If you too have non-filed tax returns and need guidance, this blog is for you. Read on to find out all you need to know about filing unfiled tax returns. Why You Must File Unfiled Tax Returns Immediately In case of non-compliance, the IRS has the authority to hold refunds or file

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