Category: Blog

Situations in Which IRS Fresh Start Program Won’t Work

IRS Fresh Start Program Limitations Explained

The IRS Fresh Start Program, also known as the Fresh Start Initiative, is a significant relief option for taxpayers struggling with tax debts. However, it’s crucial to understand that this program, despite its benefits, is not a one-size-fits-all solution. In this blog, we will explore scenarios where the IRS Fresh Start Program may not be the ideal solution, ensuring you have the latest and most accurate information to make informed decisions. Understanding the IRS Fresh Start Program Before delving into the specifics, let’s briefly overview what the IRS Fresh Start Program is. This initiative, introduced to help taxpayers with outstanding

Read the full article…

Still Have Unfiled Tax Returns? Here’s Why You Should Get Help ASAP

Unlock the Importance of Seeking Help for Unfiled Tax Returns

Tax filing can be tedious, but is undeniably crucial. Unfiled tax returns can lead to severe consequences, with the IRS closely monitoring your financial affairs. Armed with legal authority, the IRS can take decisive actions against those with outstanding returns and payments, making it essential to address the issue promptly. While various reasons may contribute to unfiled taxes, it’s crucial to get back on track. For individuals seeking assistance with unfiled tax returns, trust the guidance of The Law Offices of Nick Nemeth. In this blog, we will explore the compelling reasons that necessitate professional help regarding unfiled tax returns.

Read the full article…

Tax Lien Release or Withdrawal? What to Discuss with Your Tax Lien Attorney

Legal Guidance on Tax Lien Withdrawal

Encountering a federal tax lien undoubtedly raises concerns for any taxpayer due to its potential repercussions. The impact extends to current and future assets, affecting credit access until resolved. Fortunately, the IRS offers solutions with tax lien release or withdrawal. To discern the best option, consulting an experienced tax lien attorney is crucial. The tax lien attorneys at the Law Offices of Nick Nemeth are your trusted partner in navigating this terrain. Read on as we explore tax lien release or withdrawal, helping you make a prudent choice. Understanding IRS Tax Liens An IRS tax lien is a legal claim

Read the full article…

What the IRS Says About Separation of Liabilities under Spouse Tax Relief

IRS guidelines on Spouse Tax Relief

Navigating the complex terrain of tax regulations, especially those related to spousal liabilities, is a critical component of sound financial planning. These liabilities can impose an unnecessary financial burden, potentially leading to financial hardship. The IRS provides a solution for spousal liabilities through the avenue of separating liability under spouse tax relief. This relief seeks to offer financial protection to innocent spouses grappling with tax liabilities stemming from their partner’s actions. In essence, it enables individuals to seek relief from joint tax debt, providing a potential shield against unjust financial burdens. For those seeking spouse tax relief in Dallas and

Read the full article…

Missed the Oct 16th Tax Extension Deadline? Here’s What Happens Next

Tax Extension Deadline Passed: What Comes Next?

Tax extensions offer a crucial lifeline, providing additional time to meticulously organize your tax documents, especially when the original April 15th deadline feels too constraining. However, if circumstances lead to missing even this extended deadline, the repercussions become tangible. The IRS, known for its stringent approach to tax compliance, typically enforces penalties and interest on any outstanding tax liabilities, exacerbating the financial strain you might be experiencing. This is where the experience of tax debt attorneys becomes pivotal. These professionals help in navigating the complexities of IRS matters, offering tailored solutions to alleviate your concerns. If you find yourself in

Read the full article…

IRS Penalty Abatement Guide: The Types of Penalties Eligible for Relief

IRS Penalty Abatement

The complexities of tax filing and payment often result in individuals facing daunting IRS penalties. From legal claims against your property to potential seizures, the IRS employs stringent measures to collect owed taxes, impacting your credit and creating financial hardships. Fortunately, tax relief systems, including penalty abatement, offer a path to settle IRS taxes and shield yourself from economic strain. Navigating IRS penalty abatement complexities can be challenging, necessitating professional assistance. The Law Offices of Nick Nemeth is a trusted guide in unraveling the intricacies of the IRS and its tax relief options. In this blog, we present a comprehensive

Read the full article…

FACING PROBLEMS WITH TAX DEBT? CONSIDER IRS INSTALLMENT AGREEMENT

Considering IRS Installment Agreement for Tax Relief

If, like many Americans, you also owe back taxes and are not able to pay despite your best efforts, what should you do? The answer lies in many of the provisions offered by the IRS to help taxpayers who are unable to fulfill their tax liabilities. One such provision is IRS Tax Installment Agreement, a monthly payment plan to help you pay off your tax liability in easy monthly installments.  The IRS offers installment payment plans to taxpayers whose tax bill is too hefty for a single payment. Under this plan, taxpayers can spread their payments over several months to

Read the full article…

YOUR RIGHTS WHEN WAGES ARE GARNISHED

Wages Garnishment Rights Illustration

It is possible to lose your wages to your creditor, depending on the situation, through wage garnishment. Wage garnishment is when your employer withholds a portion of your wage in order to pay off your debt. Owing back taxes to the IRS is one of the reasons why your wages can be put at risk. However, even if your IRS problems result in wage garnishment, there are certain limits that must be respected. A wage garnishment lawyer is best placed to help you protect your rights when facing wage garnishment in Texas or any other place. Understanding IRS Wage Garnishment

Read the full article…

Understanding Employment Tax for the Self-Employed

Self-Employed Tax Guide: Key Concepts and Insights

According to the latest figures released by the U.S. Bureau of Labor Statistics (BLS), the number of self-employed people in the United States of America is over 9.6 million. Self-employed individuals generally work as a business, independent contractors, or freelancers. If you are one of them, you must understand how to handle your taxes each year to avoid IRS fines. The best way to ensure not falling prey to the IRS penalty trap is to have sound knowledge of the different tax slabs. If you live in Dallas, hiring our tax attorneys in Fort Worth, TX, can be a good

Read the full article…

Checklist for IRS Offers in Compromise Application

The IRS Offers in Compromise program is a debt forgiveness initiative, allowing you to settle your tax debt for less than you owe and providing a fresh start. It, however, demands careful attention to detail and compliance with IRS guidelines. Due to the intricacies involved, seeking the assistance of a qualified tax attorney or tax lawyer who specializes in IRS debt relief programs is often beneficial. They can provide invaluable guidance and increase your chances of a successful OIC application. Continue reading as we provide a comprehensive checklist for the IRS Offers in Compromise application to help you get the

Read the full article…