Understanding about IRS Tax Levy
  • June 4, 2021
  • admin
  • 0

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.

Please follow and like us:

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!
Quick Inquiry


    Enter the text you see above