Category: Blog

What You Need to Know as a High-Income Non-Filer

Posted by The Law Offices of Nick Nemeth on December 12, 2022

The American income tax system is based on the idea of voluntary compliance. The Internal Revenue Service (IRS) promotes trust in the tax system and legal compliance through its civil and criminal enforcement initiatives. Reducing the tax gap, or the anticipated difference between the amount of tax that taxpayers should pay, and the amount voluntarily collected, is one of the IRS’s goals in its enforcement approach. Keep reading if you earn upwards of $100,000 or more each year and have one or more unfiled tax returns. IRS initiatives to boost collection from high-income non-filers According to a report by the

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Understanding Tax Compliance

Posted by The Law Offices of Nick Nemeth on November 28, 2022

Ensuring compliance with tax laws is unarguably one of the most challenging things taxpayers (both individuals and businesses) have to deal with, although it is all the more difficult for businesses. That’s because businesses are not only required to ensure compliance with federal tax laws, but they must also comply with state and local tax laws. And on top of that, the laws keep changing on a frequent basis. This adds to the misery of the taxpayer, who has to keep up with the changes or run the risk of incurring huge penalties. The worst part is that despite the

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A Closer Look at the Inflation Reduction Act Tax Provisions

Posted by The Law Offices of Nick Nemeth on November 18, 2022

This year, the IRA (Inflation Reduction Act) replaced the House-passed “Build Back Better Act” of late 2021, with the aim to, among other things, lower the nation’s debilitating inflation. As the act becomes mainstream, average taxpayers may get confused regarding what they owe to the Internal Revenue Service (IRS). That is why consultation with an experienced IRS tax attorney is important. If you are a resident of Dallas – Fort Worth, you have easy access to the best IRS attorneys in Dallas – Fort Worth, TX. In this blog, we take a closer look at the Inflation Reduction Act tax

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A Concise Guide to Paying Back Taxes

Posted by The Law Offices of Nick Nemeth on November 11, 2022

Back taxes can be the stuff of nightmares as they can trigger severe tax collection processes, including liens, wage garnishments, and levies. While the IRS recommends clearing back taxes at the earliest, you may also opt for provisions that are available under the Fresh Start Initiative (FSI). One of the provisions is the IRS offer in compromise (OIC), which is a monetary concession that allows the IRS and taxpayers to settle unpaid dues for less than what is owed. Requesting for an OIC requires taxpayers to comply with intricate eligibility criteria, which is why it is advisable to consult a

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Wage Cap For Social Security Payroll Taxes Revised Upwards for 2022

Posted by The Law Offices of Nick Nemeth on October 31, 2022

Social Security taxes are paid by both employees and employers on income up to an annual cap, commonly referred to as maximum taxable earnings. Based on changes in the annual National Average Wage Index, every year, the federal government raises the Social Security threshold to keep up with inflation. In this blog, we will discuss some recent changes to IRS payroll taxes. Changes in Social Security Payroll Taxes in 2022 The maximum earnings subject to the Social Security payroll tax increased to $147,000 on January 1, 2022, up from $142,800 for 2021, a $4,200 increase. Over the last five years,

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All You Need to Know about Tax Relief for Senior Citizens

Posted by The Law Offices of Nick Nemeth on October 25, 2022

After paying thousands of dollars in taxes over the years, senior citizens deserve some tax relief. Whatever your financial situation, it’s crucial to understand that as you become older, your tax requirements will change. Most of the time, being 65 or older entitles you to higher tax breaks, and the IRS provides a number of tax relief options for senior citizens. Senior citizens who default on their taxes can take advantage of IRS debt relief options by consulting an experienced Dallas debt attorney. In this blog, we will discuss all you need to know about tax relief for senior citizens.

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Steps to Remove a Tax Lien from Public Record

Posted by The Law Offices of Nick Nemeth on October 17, 2022

A tax lien is one of the most powerful tools the IRS can deploy to recover outstanding dues. It is a legal claim that secures the IRS’s interests in your assets (real estate, financial assets, and personal property). This can affect you in many ways, such as facing issues when applying for a loan to auctioning your property, and the lien continues to exist even after you file for bankruptcy. However, that’s just the tip of the iceberg. While a tax lien can be removed across all public records, however, given all the intricacies involved, it is advisable to consult

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What is IRS Audit Reconsideration?

Posted by The Law Offices of Nick Nemeth on October 4, 2022

Going through an IRS audit can be an overwhelming experience. Things can rapidly get out of hand if you fail to take appropriate action when the IRS presents you with a tax bill or other document that you disagree with. If you have been subject to an IRS tax investigation and aren’t happy with the findings, there is still a way to set things right. Through IRS audit reconsideration, you can get your case reopened for review. If you are a resident of Dallas, consulting a tax attorney in Dallas, Texas, might be the best option for you to get

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Important Advice When You Default on an IRS Payment Plan

Posted by The Law Offices of Nick Nemeth on September 26, 2022

Every year, many taxpayers in Dallas find themselves in a situation where they owe the IRS more in taxes than they are able to pay currently. The Internal Revenue Service (IRS) has provisions that are especially designed to help such taxpayers dig themselves out of the hole. This is in the form of a range of payment plans in which defaulting taxpayers can enroll to get IRS debt relief. The IRS has the right to terminate the installment agreement and declare a taxpayer to be in default if they fall behind on payments or cease paying altogether. When faced with

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Unveiling the IRS ‘Dirty Dozen’ Scam List for 2022 (Part-I)

Posted by The Law Offices of Nick Nemeth on September 21, 2022

Earlier in July, the Internal Revenue Service compiled its much-awaited ‘Dirty Dozen’ annual list of scams. The IRS has also issued a complementary warning to all taxpayers to avoid being misled by fraudulent tax-saving strategies! In the event of IRS tax problems, the correct approach would be to search for an experienced tax debt lawyer, however, some taxpayers explore avenues that lead them towards scams and more trouble with the IRS. Continue reading as we unveil 6 out of 12 ‘Dirty Dozen Scams’. 1. Abusive Syndicated Conservation Easements Promoters of syndicated conservation easements distort a tax law provision allowing for

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Kristi Thompson

19:31 21 May 18

Making a call to Nick Nemeth was the best decision I ever made. After years of fighting the IRS myself and getting deeper and deeper into debt with interest adding up to more than I owed to start with I had to do something. Nick's office got the IRS to settle with me for 10% of what they said I owed. Although it took a little over a year it was worth it in the long run. Elizabeth is in my opinion one of the best employees that Nick has. She stayed in touch with me and explained everything every step of the way. I totally recommend them to help with IRS issues. Thank you again Kristi Thompson

Peter Demusz

11:38 29 Jun 18

Best choice possible. Great attorney. And the staff there are amazing. From the front desk to the back of the back office they are professional, knowledgeable, and compassionate.

Steve Foose

11:14 19 Jun 18

Sherry and I just wanted to say Thank You to everyone at the Law Offices of Nick Nemeth! From the very beginning the staff has always been very personable and of course professional. The payment terms up front were very helpful and the communication was always prompt. The most important item we want to make clear was the level of commitment and services provided on the firms part never dwindled from the beginning to the end, long, long after the payments were made by us. Also the prediction of the settlement was very close to what we were told from the very start. At one point the IRS claimed we owed almost $10,000,000 in taxes!!! Through the firms hard work and extensive experience our case has been settled and we will have paid $88,469 total. Thank you very much...Promises Made, Promises Kept, Steve and Sherry Foose May 29th, 2018

J Baker

03:11 08 Feb 18

We enjoyed working with Nick and his staff. They are very professional, courteous and timely. The main thing I appreciate about Nick is that he will tell you upfront whether or not he can help you. While our situation was unique to us--we were not able to get much relief from the IRS. However, Nick was able to help us manage our way through the extremely untimely, inefficient, and non-compassionate IRS. We are very thankful for Nick's help with this process. There is no way we would have been able to figure out the IRS process on our own. If you think you can do it on your own--good luck--but I would recommend giving Nick a call.

Jay Goodart

20:04 13 Jun 18

NIck and his team were very helpful in resolving an ongoing issue with the IRS. The team was great at keeping me current on all correspondence and brought a long outstanding issue to a quick and equitable close. Highly recommend them.

Robert Woodward

01:36 21 Sep 19

We owed the IRS a tax debt we could not even possibly begin to pay. We had tried dealing with the IRS directly and had talked with another attorney and had been given a dire picture of what would ensue, and were more confused and fearful than when we started. We walked into The Law Offices of Nick Nemeth full of fear and trepidation, not knowing what to expect. The front desk staff were relaxed and professional, and assured us that if anybody could help us, it would be Nick Nemeth. Nick walked into the conference room and was confident and friendly. After talking with us at length and reviewing our files, he told us that we qualified to obtain the rare and coveted Offer in Compromise, which would, if approved by the IRS, result in a one-time payment of a small fraction of our tax debt. We met with Brittney, our case manager, who clearly explained what we would need to do, and that we would be working with Brad and Elizabeth as well. All three were readily available to communicate with us via telephone or email and met with us in person as needed. They helped us complete all the necessary documentation for submission to the IRS, and were very reassuring during the long wait for the IRS to come to a decision. Much to our surprise and delight, our Offer in Compromise was accepted by the IRS, reducing our tax debt from well over $100,000 to just over $1,300! This would never have happened without the assistance and knowledge of Nick Nemeth, Elizabeth, Brittney, Brad, and the other staff of Nick’s law office. We would highly recommend retaining their services to anybody who feels overwhelmed and hopeless due to a huge tax debt. Don’t give up! Nick and his staff will not give up, and will fight the IRS for you to the end! The relief of having such a huge weight lifted off our shoulders was indescribably relieving. Christy and Bob Woodward

David Tracy

12:52 04 Jul 19

Nick and his staff were so helpful and informative. Although he could not assist me me at this time, he did refer me and his assistant Joanne was more than willing to help me find a to a CPA that he was was confident with and believed he could help solve the problem I am facing. The staff was friendly and eager to help in any way they could. Kudos to all the people at his office. Great people!

mike swope

16:49 17 May 19

Nick was not our first foray into this, the previous others had either just stolen our money or taken our money and closed their business without any refund, and we were left hanging. Not Nick Nick is the real deal, he has the knowledge both legal and practical to help you find a way back above the water. His team is rock solid and they answer your calls and email every time. Not only did Nick do what he said he would do, which is rare in today business world, he also helped us learn and grow so were better prepared for any future issues too. When I say trust I mean Trust Nick!

Stinson Bland

20:22 20 Mar 19

I spoke to Chase about hiring him to help me with my back taxes. He took his time to understand my situation and gave me honest feedback. He truly put my interest first and didn't try to sell me anything. He simply gave me a few options and told me what he thought made the most sense in my current situation. I highly recommend speaking to him if you have questions or concerns associated with the IRS and taxes.

Victor Arroyo

17:50 23 Jan 19

Nick, I am really glad we had a mutual friend who knew you. From the first consultation, which was real and genuine, to meeting everyone that was on my team, I really felt you all understood my situation. I was seven years behind on filing my taxes and all the sudden I get hit with a tax lien. That woke me up! I really felt Nick and his team understood and cared about my IRS problem. Brittney was phenomenal! Your process of time lines and check points made it challenging for me, however, it provided me an easy path and simplified it in a way that I could understand. Thank you for all your support. I am very thankful that when I shared my painful and embarrassing situation with my friend that he recommended you. I didn’t have to look over all town and waste my time and money with an organization that doesn’t have a face behind the name. I know I made the right decision. My recommendation to every one, HIRE THE EXPERTS!