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

Posted by The Law Offices of Nick Nemeth on May 25, 2020

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 IRS debt relief 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. To learn more about the

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3 Common Ways the IRS Discovers Tax Frauds

Posted by The Law Offices of Nick Nemeth on May 18, 2020

According to a survey, the gap between the tax collected by the IRS and what it should rightfully collect is around $450 billion. It is a huge problem for the IRS knows and even threats of penalties and IRS tax investigation are not always enough to dissuade taxpayers from defaulting or committing tax frauds. To try and overcome this problem, the IRS uses a number of investigative techniques to identify tax evaders. If you are under any kind of IRS tax investigation, it is advisable to connect with a tax resolution attorney or IRS tax lawyer. Nick Nemeth can help

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Steps By the IRS to Mitigate Impact of Covid 19 on Taxpayers

Posted by The Law Offices of Nick Nemeth on May 7, 2020

COVID-19, an infectious disease caused by the novel coronavirus, has infected a large number of people worldwide. The number of reported cases in the United States alone has shot through the roof with deaths currently around 50,000. People are facing a whole range of challenges, financial and otherwise in the fight against the pandemic. Keeping that in mind, the IRS has taken a few steps to mitigate the impact on taxpayers in the form of the new People’s First Initiative. The initiative is designed to provide some relief to taxpayers who are finding it difficult to meet their tax obligations.

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The Three IRS Payment Plans Explained

Posted by The Law Offices of Nick Nemeth on May 6, 2020

Unplanned expenses, financial crisis, medical emergency – there are many scenarios that could make it difficult for individuals to pay their taxes. The IRS presents avenues such as IRS installment plans to allow defaulters to pay tax over time and avoid garnishment, collection, and other actions. Monthly installment agreements give taxpayers more time to pay outstanding taxes without having to worry about legal implications. You can apply for an installment agreement by filling-out IRS Form 9465 and sending it through email to the IRS. Continuing on the topic, in this blog post, we present an overview of the types of

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A Step by Step Guide to Set Up an IRS Installment Plan

Posted by The Law Offices of Nick Nemeth on April 28, 2020

There are times in life, when we find ourselves in a situation that may keep us from honoring our tax obligations. While there is no excuse for carelessness or deliberate avoidance; the IRS has various provisions for those who have a “reasonable cause” preventing them from paying their dues. IRS payment agreement is one such provision, under which you can pay your taxes in periodic installments. In such cases, it is important to have an IRS tax attorney on your side, who can help navigate the complex maze of the IRS taxation system and law. An IRS tax attorney can

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4 Ways a Tax Lien Can Affect You

Posted by The Law Offices of Nick Nemeth on April 24, 2020

The government’s claim against the property of a taxpayer when they fail to meet their tax obligations is known as a Federal tax lien. The lien protects the government’s interest in the property, including personal assets, real estate, and financial assets. It gets activated when the IRS assesses its books and discovers that you have defaulted on your tax debt. The next step is issuing a “Notice of Federal Tax Lien” to apprise creditors that the government has acquired a legal right over your property. You don’t need to panic if you find yourself in such a situation as a

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Tax Lien vs. Tax Levy: Differences & What to Expect

Posted by The Law Offices of Nick Nemeth on April 10, 2020

Difference between Tax Lien vs. Tax Levy

A tax lien and a tax levy are two notable collection actions by the IRS against individuals with substantial tax debt. While a tax lien is the IRS officially exercising certain rights over your property as a result of unpaid taxes, a tax levy is the actual seizure of your property. Understanding both tax lien and levy, as well as their differences, puts you in a better position to protect your assets. Tax attorneys are best to help you resolve all types of tax issues. Continuing on the subject, we present a brief overview of a tax lien and tax

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5 Common FAQs About IRS Office Of Appeals

Posted by The Law Offices of Nick Nemeth on April 6, 2020

5 Common IRS Frequently Asked Questions with Dallas Tax Attorney

In the view of many taxpayers, the IRS is like some kind of “big bad wolf”. This fear of the IRS usually results from a general lack of information on the government agency and how it operates. One of the areas that confuse most taxpayers is that of IRS appeals. For this reason, we are going to answer 5 of the most common questions people have about the IRS and the IRS office of appeals. Question #1 Can you receive a tax refund if you’re currently making payments under an installment agreement or payment plan for another federal tax period?

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Instances When Your Tax Return Can Trigger a Closer Look From The IRS

Posted by The Law Offices of Nick Nemeth on March 27, 2020

The lower number of IRS audits and the agency’s shrinking staff leads many to believe that the risk of getting audited has diminished. Yet, as your Dallas-Fort Worth tax attorney can tell you, this couldn’t be further from the truth. Through automated processes, the IRS continues to keep close tabs on your tax returns. Any suspicious data can be enough to motivate the IRS to make inquiries, which can eventually lead to an audit. If you want to make sure your tax return is filed without any questions asked, read on! In this blog post, we’ll share the most common

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A Guide to Dealing with Back Taxes

Posted by The Law Offices of Nick Nemeth on March 23, 2020

Whenever you don’t pay your taxes, back taxes accumulate. Essentially back taxes are any previous taxes that haven’t been paid in time. As time passes, penalties and interest also pile on, making the overall debt grow significantly. Thankfully, those struggling with growing back tax debts have many ways to regain control over the situation. Alternatives such as the IRS Offer in Compromise, installment agreements, and penalty abatement can be great solutions depending on the specifics of your case. In today’s post, we explore each back tax resolution option to help you select the best one. Solutions for Back Taxes No

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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!