Tax Dues With with Nick Nemeth
  • September 5, 2017
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IRS expects the taxpayers to pay their taxes on time. In case a taxpayer is unable to pay their taxes, the IRS may levy a severe penalty on them. The penalty may include late payment fees and interest on the due tax amount.  If you have been facing a tax issue with the IRS, it is advisable to have it resolved as soon as possible to avoid any legal action. The good news is that if you are willing to pay the due taxes, but are unable to do so immediately because of a financial hardship, the IRS offers debt relief options as a part of IRS’s fresh start initiative to repay the debt in partial or full. Let’s look at some of the IRS debt relief options available for taxpayers.

Request Offer in Compromise (OIC)

OIC is an agreement between the IRS and the taxpayers, allowing taxpayers with genuine financial hardship to settle their tax dues for an amount less than what is due. The OIC, unlike an IRS Tax Installment Agreement that allows taxpayers to pay their tax dues in installments, aims at collecting the maximum amount possible in the least amount of time. This means the Offer in Compromise allows taxpayers to pay a part of their taxes with a condition that the amount needs to be paid in a reasonable period.

Apply for an IRS Tax Installment Agreement

The IRS allows taxpayers with outstanding dues to pay their tax dues over a given time period through monthly installments. As a part of the IRS’s Fresh Start Initiative Program, the limit of tax amount due to be eligible for an IRS tax installment agreement has gone up to $50,000. The maximum amount of time allowed to pay the taxes through installments is 72 months. Taxpayers who wish to apply for the plan, can fill out Form 433-A or Form 433-F. Another way to apply is to go online to the official website of the IRS and use the Online Payment Agreement tool.

Avoid Tax Liens

The IRS’s Fresh Start Initiative has relaxed the IRS’s criterion of filing a Notice of Federal Tax Lien against a tax defaulter by increasing the amount a taxpayer can owe to $10,000. If a taxpayer fulfills certain criteria, they can request the IRS to withdraw the notice by filling out Form-12277. Taxpayers may also request a withdrawal of notice if they are paying their outstanding dues through a Direct Debit Installment Agreement. Note – In some cases the IRS may file a Notice of Federal Tax Lien, even if the tax amount due is less than $10,000.

If you have any questions about your particular IRS tax debt issue, attorney Nick Nemeth, with his  proven track record in dealing with tax law intricacies, can guide you on how to get an Offer In Compromise approved if you meet all the criteria. To reach us, and schedule your free consultation with Nick Nemeth, please fill out our contact form and we will get back to your shortly.

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What Our Clients Have to Say

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!
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