Category: Blog

IRS Fresh Start Program: 4 Pillars of Hope for Struggling Taxpayers

Posted by The Law Offices of Nick Nemeth on April 18, 2016

IRS fresh start program for Struggling Taxpayers

Taxpayers who are unable to clear their tax liabilities live under a constant fear of the IRS finding out about the non-payment. The IRS, in general, has 10 years to collect unpaid taxes, and therefore, the risk of being caught does not go away if the people lay low. It is, therefore, advisable for taxpayers to address all tax liabilities as quickly as possible. If they struggle to pay what they owe, the IRS Fresh Start Program is there to make it easier for them to pay taxes and avoid liens. Let’s explore the four major components of the Fresh

Read the full article…

Tax Evasion vs. Negligence: Know the Differences to Keep Troubles at Bay

Posted by The Law Offices of Nick Nemeth on April 12, 2016

Lying to the IRS about tax returns is an offense punishable with both civil and criminal penalties. Civil penalties would mean hundreds and thousands of dollars fine, whereas criminal penalties may mean spending anywhere between 5 to 20 years in prison. Although evading taxes is a crime, any negligence in filing taxes is considered a mistake. The core distinguishing factor between tax evasion and negligence is the intent of the tax-payer. Taking this discussion further, let’s learn how the IRS differentiates US taxpayers based on their “intent”. Cause of Non-payment Evasion Tax evasion implies a deliberate act of misrepresenting taxable

Read the full article…

Falsely Padding Deductions: A Prime on IRS’ “Dirty Dozen” List of Scams

Posted by The Law Offices of Nick Nemeth on April 8, 2016

The Internal Revenue Service (IRS), in many cases, does not have the resources to verify every deduction reported on the tax returns it receives from taxpayers. Many taxpayers take it as an opportunity to falsely inflate deductions or expenses on their returns. As a result, they underpay what they owe to the government and receive larger refunds. Every year, a number of taxpayers fail to resist the temptation of fudging their income-related information, which explains the inclusion of falsely padding deductions in the IRS’ Annual “Dirty Dozen” List of Tax Scams. Let’s take a closer look at the situations that

Read the full article…

Think You Can Evade IRS Taxes? Here’s a Wakeup Call

Posted by The Law Offices of Nick Nemeth on March 17, 2016

Avoid penalties for not paying IRS taxes

The IRS never forgets. It’s evident from various news flashes about people being chased around for non-payment of taxes, for years. In one such instance, the Internal Revenue Service followed the trails of a company and collected a 30-year old tax debt! In 1982, the company was unable to pay off its tax debts due to insufficient fund, and later filed for bankruptcy. The IRS, in addition to the actual amount owed, charged a penalty of 100 percent for tax evasion. Examples like this remind us of the persistence, power, and reach of the IRS. In this post, we discuss

Read the full article…

Gambling Loss Deductions: All You Need to Know

Posted by The Law Offices of Nick Nemeth on March 17, 2016

Most people who gamble assume that they can use their gambling losses as write-offs, which is simply untrue. You need to know that gambling losses are tax deductible to the extent of your winning limitation. The limitation is applicable to all types of gambling, including slots, poker, lottery, and horse racing, among others. It’s also worth mentioning that you can’t reduce your tax burden by showing your gambling losses by claiming the standard deduction. The purpose of this post is to help you learn about the ways to deal with tax liability changes that manifest from gambling. Gambling Loss Deductions

Read the full article…

4 Must-Know Signs to Identify an IRS Scam and Take Guard

Posted by The Law Offices of Nick Nemeth on March 16, 2016

Know Signs to identify call from IRS Scammers

IRS phone scammers have become increasingly deceiving and untraceable in recent times. Since October 2013, the Treasury Inspector General for Tax Administration (TIGTA) has received approximately 290,000 contacts from US citizens reporting a possible scam. The TIGTA has also confirmed that among the contacts, nearly 3,000 have fallen victims, collectively paying more than $14 million to fraudsters who made unsolicited calls to them claiming to be IRS officials. Considering the outreach of IRS scammers and the extent of possible damages, it becomes essential for every US taxpayer to know how to protect themselves from getting duped. To help, this post

Read the full article…

Procrastination in Filing Taxes Can Cost You Dearly

Posted by The Law Offices of Nick Nemeth on March 15, 2016

When it comes to filing taxes, many people tend to get stressed out, which often leads to procrastination. Taxpayers, however, are not the only ones to blame for such indecisions. The intricacies of the U.S. Tax Code is a cryptic language for most taxpayers, which is why many people are unable to file their taxes and have to bear various consequences including penalties. To validate the significance of filing taxes before the annual deadline (April 15), in this post, we discuss the penalties taxpayers have to pay for late filing and payment. Penalties The US citizens run the risk of

Read the full article…

Tax Evasion is a Road to Nowhere: A Lesson Learned the Hard Way

Posted by The Law Offices of Nick Nemeth on March 14, 2016

The Thin Line Between “Tax Evasion” and “Tax Avoidance”

Tax evasion costs the US government billions of dollars in losses every year, which explains why they are one of the biggest concerns of the IRS. There are companies with international subsidiaries in tax haven jurisdictions, established with the sole purpose of evading taxes. A recent study conducted by the University of California, at Berkeley reveals that the total overseas holding of US based companies is approximately $7 trillion – a sum that’s equivalent to the collective value of global gold reserves. The Thin Line Between “Evasion” and “Avoidance” What many people don’t know is that tax avoidance (nonpayment after

Read the full article…

Behind with Your Taxes? The IRS Fresh Start is a Possible Way Out

Posted by The Law Offices of Nick Nemeth on February 19, 2016

IRS Fresh Start Initiative helps struggling taxpayers deal with taxes

In 2011, the IRS acknowledged the challenging times people were facing in the depressed economic climate by rolling out the Fresh Start Initiative (FSI). The Economic downturn we faced in 2015 suggests a revitalization of the is program may be on the horizon. The initiative provides a ray of hope to financially distressed and struggling taxpayers, giving them a chance to keep up with their tax payments and avoid tax liens. The program helps qualified taxpayers by exempting them from penalties on unpaid dues and accrued interest. Since inception, the IRS Fresh Start Initiative has helped thousands of struggling taxpayers

Read the full article…

IRS Pursues Indian Tribes for Tax Evasion

Posted by The Law Offices of Nick Nemeth on February 12, 2016

A longstanding tax dispute between the Miccosukee Indian tribes in Florida and the Internal Revenue Service (IRS) has snowballed into a major controversy. The dispute is over whether or not gaming profits should be subject to federal tax withholding. In this post, we discuss the regulatory framework about gaming on Native American lands. The Indian Gaming Regulatory Act of 1988 (IGRA) Until 1988, there were no federal laws to regulate the gaming structure on Indian owned land. That’s when the US government came up with The Indian Gaming Regulatory Act that established a legal framework to govern Indian gaming. The

Read the full article…

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!