Category: Blog

A Closer Look at Offer in Compromise: The IRS Debt Relief Program

Understanding an Offer in Compromise

IRS debt can be a stressful problem to handle for anyone, especially if you are struggling financially. The IRS might have a reputation for being ruthless, but the government agency is not blind to the difficult circumstances taxpayers sometimes face. For this reason, the IRS is open to providing an IRS debt relief and debt forgiveness program for those that genuinely need aid to avoid extreme hardships. One of the available IRS debt relief options is an Offer In Compromise. An OIC involves debt forgiveness, allowing taxpayers to settle their debt by paying a lesser amount than what is owed.

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Unfiled Tax Returns Refund and How to Get Yours

IRS tax problems are not something you would want to carry around for years. Are you looking for help with years of unfiled tax returns and refunds? Have you received a notice from the IRS stating you have unfiled tax returns, and they are withholding a refund until you file delinquent taxes? Not filing just one return, even if it is unintentional, can wreak havoc on your life.  Not knowing what to do or how to do it increases stress. Don’t panic, we are here to help you with unfiled tax returns! First, let’s discuss who should file a tax

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A Look at 4 Types of Tax Fraud

Nothing can be more terrifying for a taxpayer than receiving a notice from the Internal Review Service (IRS) accusing them of committing tax fraud. Our advice to residents of Dallas and who receive such a notice, is that they should consult an IRS tax attorney in Fort Worth, TX without any delay. Tax fraud happens when a person or organization knowingly and actively falsifies information on their tax returns in order to reduce their tax liability. It entails cheating on a tax return in an attempt to avoid paying your tax obligation. Falsely claiming deductions, classifying personal spending as business

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UNDERSTANDING IRS PENALTY ABATEMENT

The IRS is always on the lookout for defaulters and has the right to take action against them as per the law. When a taxpayer is unable to pay or file the taxes they owe, the obligation doesn’t cease to exist; it continues to accumulate interest and even penalties. Though the IRS continually tries to recover outstanding tax debt, it may agree to cut down on or waive tax penalties if a taxpayer is able to provide a satisfactory reason for their non-compliance. Read on to learn more about requesting an abatement of IRS penalties. IRS Penalties Eligible for Relief

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HOW TO AVOID AND STOP WAGE GARNISHMENTS

The IRS has strict wage garnishment laws to enforce debt collection on unpaid taxes, no matter whether we talk about Texas or any other state. Wage garnishments occur when you have an outstanding tax debt owed to the IRS and any other means of collecting the debt have not been achieved. Your employer receives a written notice from the IRS requesting a portion of your wages to satisfy your outstanding tax bill. By law, your employer must obey this request. There are ways to avoid or stop wage garnishments. If you receive a notice that you owe taxes,instead of wondering

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NEED HELP RESOLVING IRS TAX PROBLEMS? READ THIS NOW!

IRS Tax Problems Help with The Law Offices of Nick Nemeth

We all want a worry-free tax filing experience. And in truth, taxes are simple when you fulfill your taxpayer duties 100% perfectly, 100% of the time. The thing is that, for most of us, being perfect 24/7 is not reality. We are all prone to forgetfulness, procrastination, and external circumstances getting in the way. That means that we are all at risk of running into one, or a few, IRS tax problems during our lifetime. Understanding what these IRS problems are, why they arise, and how to resolve them is key to a stress-free tax experience! 4 Common IRS problems

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GOT UNFILED TAX RETURNS? IT’S NEVER TOO LATE FOR REDEMPTION!

Taxpayers are required to file their tax returns once every year to document their finances and the taxes paid during the year. Some taxpayers, however, go past the due date of filing tax returns, accumulating years of unfiled tax returns and end up facing various penalties, interests, and even have to face legal consequences. If you too have non-filed tax returns and need guidance, this blog is for you. Read on to find out all you need to know about filing unfiled tax returns. Why You Must File Unfiled Tax Returns Immediately Negligence or inability to file a tax return,

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IRS INNOCENT SPOUSE TAX RELIEF: WHAT YOU NEED TO KNOW

Innocent spouse relief

Many married taxpayers file a joint tax return to qualify for the tax benefits attached to it. When filing jointly, both spouses are equally liable for all taxes, interests, and penalties that arise from the joint return, even if the couple gets divorced or only one spouse earned all the income or claimed deductions. There can be, however, a case wherein one spouse is innocent of the other’s tax debts, which is why the IRS has innocent spouse tax relief in place to help the innocent spouse get relief from tax debts. Read on to learn more about innocent spouse

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RECEIVED AN IRS TAX AUDIT NOTICE? DON’T PANIC! HERE’S HELP

IRS Tax Audit Notice with Nick Nemeth

There can be very few IRS tax problems more upsetting than receiving an IRS tax audit notice, especially when you have been filing your taxes on time. The IRS has the authority to audit returns within 3 years from the date of filing, but that does not mean you cannot receive a ‘letter bomb’ after that period. The IRS conducts tax audits to ensure taxpayers are accurately filing returns, and any inaccuracies or purposeful misreporting can lead to heavy penalties. To avoid errors and comply with tax filing regulations, consider seeking the help of a tax attorney offering tax advice

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IRS TAX CONTROVERSY: 6 WAYS THE IRS WILL MAKE YOUR LIFE MISERABLE and 3 REASONS FOR OPTIMISM

Death and taxes are the two inevitable events in life, and no one wants to die, but for many, this may be preferable to dealing with the IRS or trying to resolve a tax dispute. That is a sad commentary on this government agency when death is more popular than the IRS. Controversy with the IRS is something to be avoided whenever possible. When the IRS puts a taxpayer in their sights, the results are usually predictable. The agency will start piling up penalties and interest, seize assets and property, freeze bank accounts, and even start criminal prosecution against the

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