IRS problems impacting small businesses in Fort Worth
  • May 27, 2024
  • admin
  • 0

Running a small business in Fort Worth presents numerous challenges, and navigating IRS issues is among the most daunting. From tax audits to overdue payments, small business owners often find themselves grappling with various IRS problems that can significantly impact their operations and financial health. The Law Offices of Nick Nemeth is here to help businesses resolve IRS issues effectively. In this blog, we’ll explore eight common IRS problems faced by small businesses in Fort Worth, offering valuable insights to help you overcome these challenges and achieve financial stability.

Understanding Common IRS Issues for Small Businesses

Operating a small business involves various responsibilities, including compliance with IRS regulations and tax obligations. However, many small business owners in Fort Worth find themselves facing IRS issues that can significantly impact their operations and financial well-being. Some common IRS problems encountered by small businesses include:

  1. Tax Audit Notices

    Tax audits can be a daunting prospect for small business owners, triggering anxiety and uncertainty about their financial affairs. The IRS may issue audit notices to verify the accuracy and completeness of a business’s tax returns, potentially leading to further scrutiny of financial records and transactions. Responding promptly and thoroughly to audit notices is crucial to minimize any potential negative consequences. Our team of experienced tax lawyers in Fort Worth is here to provide comprehensive representation, ensuring a smooth and accurate resolution to your audit concerns.

  2. Unpaid Payroll Taxes

    Small businesses are responsible for withholding and remitting payroll taxes on behalf of their employees to the IRS. However, some businesses may face challenges in meeting their payroll tax obligations, leading to unpaid or delinquent taxes. This can result in severe consequences, including penalties, interest accruals, and potential legal action by the IRS. For businesses facing unpaid payroll taxes, seek help from our lawyers experienced in dealing with IRS tax problems.

  3. Late or Incorrect Tax Filings

    Small businesses are required to file various tax returns and reports with the IRS, including income tax returns, payroll tax returns, and information returns. However, some businesses may encounter issues with late or incorrect filings, which can result in penalties and compliance issues. Our tax attorney in Fort Worth can guide you through the process of filing unfiled tax returns and rectifying errors in previous filings, helping you avoid IRS problems and penalties.

  4. Penalties and Interest Accruals

    The IRS imposes penalties and interest on taxpayers for various infractions, including late or incorrect filings, underpayment of taxes, and failure to comply with tax laws. These penalties and interest accruals can quickly escalate, adding significant financial burdens to small businesses already struggling with IRS issues. Working with our lawyers for IRS issues in Fort Worth can help you explore options for penalty abatement or negotiation, reducing tax liabilities. 

  5. Tax Liens and Levies

    In cases of unpaid taxes, the IRS may impose a tax lien on a small business’s property or assets as a legal claim against the taxpayer’s assets. Additionally, the IRS may levy or seize a business’s assets, including bank accounts, receivables, and property, to satisfy unpaid tax debts. Tax liens and levies can have serious consequences for small businesses, impacting their ability to operate and maintain financial stability. Consult with our Fort Worth tax attorney to prevent the imposition of liens and levies, or to navigate their removal if they’ve already been imposed.

  6. Worker Classification Issues

    Worker classification issues arise when businesses misclassify workers as independent contractors rather than employees or vice versa. This can lead to tax reporting errors, underpayment of employment taxes, and potential IRS audits or investigations. Small businesses in Fort Worth must understand the criteria for worker classification and ensure proper classification of their workforce to avoid IRS problems and legal liabilities. Seeking guidance from our tax professionals can assist small businesses in navigating complex worker classification rules and mitigating associated risks effectively.

  7. Employment Tax Disputes

    Employment tax disputes may arise when businesses disagree with the IRS regarding the classification of certain payments or deductions related to employment taxes. These disputes can lead to audits, assessments, and potentially costly legal proceedings. Maintaining accurate records of employment tax transactions is crucial. Seeking professional assistance from our tax lawyer to resolve disputes with the IRS promptly can mitigate their impact on business operations. Proactive communication and collaboration are key to effectively navigating employment tax issues.

  8. Overdue Tax Payments

    Overdue tax payments can pose significant challenges for small businesses, often stemming from various financial difficulties. Delinquent tax payments to the IRS can result in penalties, interest accruals, and potential collection actions. Small businesses in Fort Worth facing overdue tax payments should prioritize open communication with the IRS and explore potential resolution options, such as installment agreements or offers in compromise. Seeking assistance from our lawyers can help negotiate favorable terms and prevent further IRS issues.

Impact of IRS Problems on Small Businesses in Fort Worth

Ignoring IRS problems can have serious repercussions for your small business in Fort Worth. These consequences include:

  • Financial Strain: Penalties, interest, and back taxes can impose a significant financial burden on your business, hindering its ability to expand, innovate, or even meet basic financial obligations, ultimately stunting growth potential.
  • Loss of Business Reputation: A public record of IRS problems can erode trust in your business, leading to decreased sales, severed partnerships, and difficulty attracting new customers or investors. Maintaining a positive reputation is essential for long-term success in any industry, making it imperative to address IRS issues promptly and transparently.
  • Business Closure: In extreme cases, unaddressed IRS problems can lead to the closure of your business, putting an end to your entrepreneurial endeavors. The IRS has the authority to seize assets, garnish wages, and even force business closures to collect outstanding tax debts. Business closure not only results in financial losses but also affects employees, suppliers, and customers, causing ripple effects throughout the community.

Don’t allow IRS issues to impede your business’s success. Address these problems promptly and effectively to safeguard your financial well-being and preserve your business’s reputation. Consult with our experienced tax lawyers for IRS problem resolution.

Expert Guidance and Support for Fort Worth Small Businesses

For Fort Worth small businesses grappling with IRS problems, seeking expert guidance and support is crucial. At the Law Offices of Nick Nemeth, our team of experienced tax attorneys provides comprehensive IRS problem-resolution services tailored to the specific needs of small businesses. With our extensive experience and deep understanding of tax laws and regulations, we can assist you in navigating complex IRS issues with confidence and peace of mind. To seek assistance with IRS problems in Fort Worth or discuss your requirements, please call (817) 623-5399 or fill out our contact form.

Please follow and like us:

What Our Clients Have to Say

Brent VahleBrent Vahle
19:13 02 May 24
I called to see if they could help reduce some penalties and fees. The person I spoke with told me it might be counterproductive for them to take my case since their feels would likely equal the amount of penalty/interest abatement. I decided to pass on moving forward but was so happy to hear a legal team, or any business for that matter, who has that much integrity. I feel most others would likely try to take my money anyway. I hope I never have to go through this again, but if I do, I will definitely use the Law Offices of Nick Nemeth!
Jason WinkleJason Winkle
18:44 02 May 24
Jaime Flores was very friendly, professional, and knowledgeable. She gave me some very valuable information which helped guide me with a plan of action. The free consultation is very much appreciated.
Matthew SwigartMatthew Swigart
12:14 02 May 24
Great attorney who was able to provide quick and useful advice. Although my situation did not warrant their services, they still took the time to discuss solutions I could explore. I highly recommend visiting this office!
Tony PantojaTony Pantoja
12:57 09 Apr 24
Very professional and very knowledgeable, Jamie Flores was very straight forward and professional, a firm that doesn’t just take your money, Thanks
Carla AtwalCarla Atwal
10:52 02 Apr 24
Nick was wonderful in guiding me with direction on some tax questions I had. He was concise, and to the point, and was happy to provide general info to me at no charge. I truly appreciate him and would highly recommend him.
Miguel AlvaradoMiguel Alvarado
15:56 25 Mar 24
By far the best attorneys I have ever worked with. They’re are very helpful and supportive from day one. They went above and beyond to make sure all my documents were submitted on time and gave updates as soon as they received them. I cannot name a single flaw in their work. Their team of assistants are very professional and seem to all be on the same page. I’ve made multiple phone calls and sent a ton of emails to their staff and they were able to help me all through the course of the case. I cannot express my gratitude enough for how excellent they handled my case.
Lucy FoyLucy Foy
06:55 19 Jan 24
My first appointment I had with, Tax Attorney Nick Nemeth, gave me such a sense of relief. He listened and gave me his professional advice, Mr Nemeth took my case. I was well kept updated, by phone calls and letters. That really impressed me and gave me so much confidence in them. The case went on for a couple of months. The day I received the call from one of his team members Kyle, informing me that the case was resolved and that I owed absolutely nothing to the IRS, I was overwhelmed with joy. I would recommend this law firm to anyone that needs help, with any tax issue. Thank you, to the Law Firm of Attorney Nick Nemeth and his team.
Bradley RunyonBradley Runyon
20:17 13 Jan 24
I received a tax bill in the mail from the IRS last year in 2023. The fees and penalties I owed were something I myself could not afford. I reached out to Nick Nemeth's firm and received the best experience you could imagine. The team was professional, educational, and fast. If you have a tax issue with the IRS using another firm other than Nick Nemeth's would be an error in judgment. I would recommend their services above others.
Sue HulsemanSue Hulseman
19:55 11 Jan 24
Working with Nick Nemeth and his team to resolve my debt with the IRS was the best decision I could have made. I felt such relief knowing I didn’t have to deal with the IRS myself. They did a wonderful job and were responsive to my questions and kept me abreast of my case. My outcome was exactly what I was hoping for. I strongly recommend using them if you have an issue to resolve with the IRS.
20:53 21 Dec 23
I had an incompetent tax preparer, who also ignored several notices from the IRS, which in the end resulted in a lien on my property. I did not know what to do and an attorney friend recommended that I contact the Nick Nemeth Law Offices. I met with Jamie Flores and Ivan Nalbantov in December 2021 for a free consultation, and right away was impressed by their thorough examination of my paperwork and extensive knowledge of IRS tax laws. I felt not pressured and appreciated their advice and in the end decided that I would pursue resolving the issue by myself. I paid the IRS Civil Penalty and, as recommended also submitted a letter to the IRS requesting a refund and explaining what happened. I am glad to report that my persistence finally paid off. My case took two years to resolve and I finally received a full abatement/refund check from the IRS in December 2023. I could not have done this without the straightforward recommendation of Jamie and Ivan; and I highly recommend the Nick Nemeth Law Offices to anyone needing help with the IRS.
Susan WilsonSusan Wilson
03:27 25 Jan 23
I have been very pleased with the solid counsel and guidance that Nick Nemeth has provided me regarding my tax issue. I found him to be honest and straightforward which I appreciated. I was impressed with his relevant experience and knowledge . He has definitely brought me peace of mind during a difficult and stressful time.
Sarah HowardSarah Howard
03:44 14 Nov 22
I would like to thank Mr. Nick and his staff for the superb help that I received from them. My IRS problem was resolved quickly and efficiently. It took 2 visits to convince me that I was over my head. I thought that I could call the IRS, appeal my tax notices and settle on a payment plan on my own. After many phone calls to the IRS, waiting sometimes more than 4 hours with no resolution to speak of, it proved to be extremely difficult and stressful. Revisiting Mr. Nick was a huge wake up call. My account was reviewed, and a payment plan was established with the IRS within a week. I will be forever grateful to the staff who worked on my case and especially to Lorna who listened to me vent while going through this painful process.
00:33 07 Aug 22
I cannot say enough good things about Nick and his team. When I first met with Nick he was up front, honest, friendly and efficient. When I worked with one of his attorneys, Eric B, I was just as pleased. All of the staff there are nice and very helpful. I wish I hadn't waited so long to get help with my issue. Over 6yrs I tried getting through and getting anywhere with the IRS and hardly made any progress. I know this may not be the case for all, and even I thought it would take longer than it did, but 3mos and they had my situation straightened out. I still can't believe it. Thank you thank you THANK YOU for all that you did for me. This is a huge burden gone out of my life now thanks to you. If anyone needs help out there, I know you may not want to shell out more money to get their help but it may just save you in the long run.
Spoilly GirlSpoilly Girl
23:49 03 Aug 22
The Nemeth Law team is exceptional. They treat their clients like a family member who is in crisis. They want you to get the best possible outcome. I really appreciate everything that they did for me. Jake and Ashley had the greatest role in my case and it all turned out for the best for me. Thank you Nick and team for easing my fears and getting me through the long process. I'm truly grateful.
Eddie WaltEddie Walt
19:44 12 Jul 22
During a time in which competent, professional service at a fair price seems to have disappeared, Mr. Nemeth and his team are a refreshing breath of fresh air.From my first phone call to the final settlement of our case with a non-responsive IRS, they under-promised, over-delivered and were in constant courteous contact to make sure we knew exactly what was happening and where we stood.I hope to never need their services again, but, should I receive another friendly letter from the IRS...I know who to call!
Quick Inquiry


    Enter the text you see above