Deal with Your Finances During the COVID-19 Crisis
  • July 29, 2020
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The COVID-19 crisis has seen everyone getting back to the basics. While the crisis continues to squeeze many in terms of finances, everyone has more than enough time on their hands to learn to DIY a variety of things as a way to save expenses and set-aside an emergency budget. The best way to survive the crisis and emerge unscathed is to invest more time into shoring up your finances. The Law Offices of Nick Nemeth stand ready to help you with IRS problems pertaining to issues such as IRS appeals and IRS tax investigations. Let’s look at some simple financial adjustments that can help you get through the COVID-19 crisis.

Related Blog: Answering Commonly Asked Questions about IRS Penalty Abatement

Take stock of your financial position

There has never been a better time to take account of every aspect of your financial life. The best place to start is taking a hard look at your net worth in terms of your debt and avenues that you can explore to bring in cash. Take stock of your portfolio even when experiencing a tough time collecting from your debtors. It is important to appreciate that while collecting may be tough during this time, it doesn’t imply that defaulters are bad debtors as you will collect someday soon. Consider opting for things such as a health savings account or cash-back credit cards.

Set aside an emergency fund

The uncertainty characterizing life during the COVID-19 crisis demands the setting aside of an emergency fund. Everywhere you look, people are getting pay cuts and reduced hours, which is why you need to take action in time in the event you also find yourself in the same situation. Go through a list of your expenses and identify entries that represent stuff that you can forego in the meantime or add to the DIY list. Activate your emergency budget or craft one in case you don’t have any.

Related Blog: 4 Types of IRS Tax Installment Agreements That Taxpayers Can Use

Last word

When it comes to handling IRS tax problems, it is always best to seek help from an experienced tax attorney. The Law Offices of Nick Nemeth has a team of seasoned tax attorneys in Dallas that are always ready to help with IRS issues. Whether you have unfiled returns or are facing an IRS tax investigation, we are here to help. Call (972) 426-2553 or email us at

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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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