Category: Blog

Received a Federal Tax Lien? Here is the Way Ahead

Posted by The Law Offices of Nick Nemeth on
IRS Tax Lien with nick Nemeth

A federal tax lien is one of the last things you would want to receive as a taxpayer. Under a tax lien, the IRS claims the rights to the defaulter’s assets, such as real estate, bank accounts, and vehicles. The lien may even limit the taxpayer’s ability to get credit in the future. Taxpayers, who file for bankruptcy, may still have to continue paying the lien. If you too have received an IRS tax lien, here are a few things that you need to know to find your way out. The Options at Hand When you are past the due

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UNDERSTANDING HOW THE IRS INITIATES CRIMINAL TAX INVESTIGATIONS

Posted by The Law Offices of Nick Nemeth on
criminal investigations on taxpayers

There are many reasons why you might end up facing an Internal Revenue Service (IRS) tax investigation. Many taxpayers don’t even know they’re under investigation regarding alleged tax evasion or tax fraud until the IRS comes looking for them. There are many different kinds of tax fraud that all attract different penalties, and without proper counsel, it is easy for issues to spiral out of control. If an IRS agent comes across incriminating information during the civil audit, it can lead to an indictment or jail time in certain cases. When you understand how the IRS initiates its tax investigations,

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A GUIDE TO UNDERSTANDING IRS TAX APPEALS

Posted by The Law Offices of Nick Nemeth on
IRS Tax Appeals with The Law Offices of Nick Nemeth

If you disagree with the IRS’ decision on the amount of taxes you owe, there is a recourse to help resolve the dispute without taking it to the Tax Court. You can file an appeal with the Office of Appeals.  The Office of Appeals is an independent organization that helps in dealing with tax issues, especially in cases where the IRS made an error. Although you can take the DIY route and file an appeal yourself, it is advisable to seek the help of an IRS tax attorney and use their expertise to address the issue at hand. An IRS

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Answering Important Questions About IRS TAX Liens

Posted by The Law Offices of Nick Nemeth on

When it comes to managing different tax-related issues such as paying dues, filing returns, and handling liens, levies, and mortgages, it is extremely important to set the right priorities to avoid major IRS tax problems. Two such issues that demand immediate attention are IRS tax liens and mortgages. A tax lien refers to the government’s right to claim your property due to the failure to pay your taxes, while a mortgage is a legal agreement through which you take a loan from a lender while putting up your property’s title as security. In this blog, we take a look at

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FILING IRS INNOCENT SPOUSE TAX RELIEF AND UNDERSTANDING THE DIFFERENCE BETWEEN INNOCENT AND INJURED SPOUSE RELIEF

Posted by The Law Offices of Nick Nemeth on
Innocent Spouse Tax Relief with The Law Offices of Nick Nemeth

Innocent and injured spouse tax relief are two different avenues that can be pursued by couples filing joint tax returns if one party faces tax consequences due to the actions of their partner. Although the two scenarios are fairly different, they are both meant to release the innocent spouse from income tax liabilities that arise from joint tax filing. Before you request the IRS to consider you for innocent spouse relief or injured spouse relief, it is imperative to understand the differences between the two. In this blog, we will first have a look at the difference between innocent and

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NEED HELP WITH IRS TAX APPEALS? HERE IS WHAT YOU NEED TO KNOW

Posted by The Law Offices of Nick Nemeth on
IRS Tax Appeals with Nick Nemeth

Discrepancies involved in tax collection, proposed tax assessments, or other IRS actions can increase a taxpayer’s grievances. Once you receive a final notice from the IRS, you may seek tax dispute resolution through legal intervention. Filing appeals is a preferable, yet less formal approach than other court proceedings, but is independent of judicial mandates of evidence or procedure. In the past, appeals have helped settle a significant number of cases. Let us take a closer look at the various aspects of Appeals, and how you can benefit from the process. What is an appeal? Created in 1927, the Internal Revenue

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IRS OFFER IN COMPROMISE: A RAY OF HOPE FOR TAX DEFAULTERS

Posted by The Law Offices of Nick Nemeth on

Failure to meet your annual tax obligation is an invitation to severe financial and legal consequences. The IRS can impose legal penalties, delay reimbursement, and in worst-cases, seize your possessions and put you behind bars. There is no escape from filing and paying your taxes, but the IRS provides a few avenues to help those who are unable to make payments due to financial difficulties. Offer in Compromise “OIC”, is an agreement between the IRS and a taxpayer that allows the taxpayer to settle their tax liabilities for an amount less than the actual unpaid amount. It is, however, worth

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