Understanding about IRS Tax Levy
  • June 4, 2021
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Tax practitioners expect a very busy year for tax attorneys in 2021. There are many factors that fuel this speculation including the new government and economic slowdown due to the COVID pandemic. Corporate clients are still working through the changes they have faced during the last one year of the pandemic and there have been several tax reforms that are keeping both the clients and tax attorneys busy. Continuing on the topic, let’s take a look at the factors that will underline the importance of IRS tax attorneys and how they will affect taxpayers as well. Read on.

Change in the Government

Less than two months after being elected as President of the US, Joe Biden has moved forward on major elements of the Build Back Better Program. These will be funded by significant changes in the tax law. The American Rescue Plan and American Jobs Plan are supposed to lower the tax burden on the lower income group but will increase income taxes for corporates. Corporates will need tax attorneys to understand and implement the changes to avoid any hassles or mistakes.

Related Blog: Procedural Map to an IRS Tax Investigation

Economic Impact of COVID-19

The COVID-19 pandemic has had a deep impact on economic, business, and social activities. The US government has introduced several plans and frameworks to support businesses that have been affected by the pandemic. Additionally, states that are struggling for revenue due to the pandemic and are at the bleeding edge of the revenue crisis will see increases in taxes and heightened enforcements, which will result in more aggressive audits and it will be harder to get reasonable dispute settlement offers. Tax attorneys will need to work harder to find ways to help taxpayers get relief from such tax issues.

Must Read : Appeals: The Gateway to Resolving IRS Tax Disputes

2017’s Tax Reforms by Trump Administration

As the 2017 tax legislation by the Trump administration works its way through the system, it is expected to result in more litigation in the courts as most businesses are still coping with compliance to the reforms. The increase in litigation means that tax attorneys have extra court cases which will keep them busy.

The Bottom Line

The year 2021 is characterized by significant changes to the tax structure and taxpayers need to be prepared to avoid any mistakes that may invite serious action from the IRS. If you have any confusion related to tax structure changes and need professional help, look no further. The Law Offices of Nick Nemeth can help. We have a team of experienced tax attorneys in Dallas, Texas, with a proven track record of helping clients resolve IRS tax issues. To consult with one of our IRS tax attorneys, call (972) 426-2553 or fill out our contact form, and we will take it from there.

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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.
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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.
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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.
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