Millions of Americans run into trouble with the IRS every year. Be it unpaid taxes or unfiled returns, wage garnishment or a tax lien, most problems can be fixed with the help of an IRS tax attorney. If you happen to have a run-in with the IRS, let a licensed tax attorney handle it and negotiate an agreement for you. While you can always rely on the IRS tax lawyers at the Law Offices of Nick Nemeth to help you out with all your IRS tax problems, it is sensible to stay aware of the basic steps to be taken when facing an IRS tax problem. Continue reading to learn more about a few common IRS tax problems and what to do when facing such problems.
Unpaid Taxes
If you happen to have unpaid taxes, it is highly advisable to pay all the taxes in full. For people who cannot afford to pay them immediately, the IRS provides a variety of options and payment plans to help you pay off your unpaid taxes. Based on factors such as the amount of taxes you owe and your current financial condition, an IRS tax attorney will negotiate with the IRS on your behalf.
Unfiled Tax Returns
Always file your taxes on time. In most cases, unfiled taxes attract greater fines and penalties when compared to unpaid taxes. If you fail to file your returns, IRS tends to file them for you and you may have to end up paying more than what you owe. In cases where you may not be clear with the procedures or the paperwork involved in filing your tax returns, a tax attorney will be able to do it for you. Talk to one of the tax attorneys at The Law Offices of Nick Nemeth and learn where you stand with the IRS and your unfiled tax returns.
Tax Lien
A tax lien is the first step taken by the IRS against you. When you accumulate back taxes and do not pay them off, the IRS proceeds by seizing your assets to account for all the unpaid taxes. Before claiming your assets, the IRS files a “Notice of Federal Tax Lien” which serves as a warning that the IRS has a legal claim against your property. Once you receive such a notice, contact the IRS Centralized Lien Unit to find out more about your tax lien. To get your tax lien removed contact an IRS attorney who can help you
Tax Levy
If you fail to respond to the initial tax lien notices, the IRS proceeds by seizing your assets. The process by which the IRS seizes your assets such as real estate, cars, valuables, money in your bank account and so on is known as the tax levy. In this case too, the IRS sends a notice 30 days prior to the tax levy. If you happen to receive such a notice, act immediately and prevent IRS from seizing your assets. As you have a right to a hearing before tax levy, a qualified IRS tax attorney can help present your case and do the necessary damage control.
Wage Garnishment
Wage garnishment is a tax levy practice through which the IRS takes a part of your paycheck. While most creditors can follow a similar approach, the IRS typically takes a great amount from your paycheck when compared to a typical creditor. For self-employed individuals, the IRS contacts the clientele and takes a cut from the payments beforehand. It is highly recommended to get in touch with an IRS tax lawyer before the commencement of a wage garnishment. However, you can still remove an existing garnishment by contacting the IRS and coming to an agreement.
Finally
Tax audits are a common occurrence; individuals earning above $10 million, self-employed individuals and small business owners are likely to face audits more often than other taxpayers. If you are audited or slapped with a penalty, reach out to an IRS tax attorney. If you or someone you know is facing an IRS audit or any other tax debt problem discussed above, look no further than the Law Offices of Nick Nemeth. You can find reputable and experienced tax attorneys who can help you in the IRS tax problems resolution. To get a no-obligation free consultation, call us at (972) 426-2553, or fill our contact form and we will get back to you as soon as possible.
