Important Advice When You Default on an IRS Payment Plan

Payment Plans Installment Agreement

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)

IRS's 2022 Dirty Dozen tax scams

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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Decoding the IRS Accuracy-Related Penalty

IRS Accuracy-Related Penalty

Whenever there is mention of the Internal Revenue Service (IRS), some people have chilling flashbacks of their encounters with the government agency. It is easy to get in the wrong books of the IRS, and the agency is known to reach for its arsenal of penalties in a lot of cases. One such penalty that you should be aware of is accuracy-related penalty. If you underpay the tax that should be reported on your return, you can be subject to an accuracy-related penalty. If you don’t declare all of your income or claim credits or deductions for which you are

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Benefits of IRS Expanded Voice Bot Options

Improving taxpayer experience

When calling customer service departments of different businesses, you will deal with bots most of the time. The Internal Revenue Service (IRS) has also decided to adopt voice and chat bots-based interaction features for two of its specialist toll-free telephone service lines. The bot-based services are going to be introduced across more verticals in the near future. The move, which is a component of the IRS Taxpayer Experience Strategy, aims to enhance the quality of interactions between the IRS and taxpayers by supplying more information through the use of cutting-edge technology solutions like AI-powered voice and chatbots. The facility will

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What You Need to Know About a ‘Notice of Intent to Offset’

tax season alerts

Did you know that approximately 11.23 million Americans failed to pay their taxes on time during the coronavirus pandemic? This translates to $125 billion of unpaid taxes. From the government’s point of view, a lack of revenue means it can’t invest in important national developmental programs. In an attempt to recover unpaid taxes, it sends a Notice of Intent to Offset to taxpayers who default on their payments. Taxpayers in Dallas can turn to tax lawyers like Nick Nemeth for solutions to IRS tax problems such as being the recipient of a Notice of Intent to Offset. In this blog,

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3 Ways to Stop an IRS Tax Levy

How to prevent IRS Tax Levy

If you owe taxes to the Internal Revenue Service (IRS), there are a number of reasons for you to be anxious. You never know when the IRS might put a levy on your assets to recover the outstanding amount. While it is a worrisome scenario, there are ways you can stop or get rid of an IRS tax levy. The best way to prevent such a situation is to pay your taxes on time. If you find yourself the subject of a tax lien, the first thing you should do is hire an IRS tax attorney. If you are a

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All You Need to Know About Letters from the IRS

About Letters from the IRS

Nobody wants to have to deal with the IRS, especially if they are on the wrong side of the Tax Code. However, situations may arise when you must deal with the government agency or risk facing penalties. The IRS sends out notices for a variety of reasons including unfiled tax returns. In this blog, we are going to discuss all you need to know about letters from the IRS. Identifying if the letter is genuinely from the IRS First of all, you need to make sure that the letter you have received is really from the IRS. There are a

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A Taxpayer’s Guide to Late Tax Filing

Penalty for Late Filing Income Tax Returns

Filing your taxes on time is always important to avoid getting into any kind of trouble with the IRS. While this is the most ideal scenario, there are times when taxpayers find themselves filing late, sometimes even for several tax years. If you find yourselves in a situation whereby you are filing late or haven’t filed in a few years, it is important to know how to proceed. Working with a proven Dallas IRS attorney is the best way to get everything right as there are quite a few debt relief avenues such as IRS offers in compromise, IRS penalty

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IRS Debt Relief: How The IRS Assesses Your Ability to Pay

how does the IRS assess your ability to pay outstanding taxes?

Being unable to pay off outstanding taxes can be quite stressful as everyone is well aware of the dire consequences that may arise when the IRS decides to enforce collection measures. This does not mean that the IRS always goes hard on defaulters as there are avenues to get IRS debt relief. The IRS presents debt help facilities such as IRS penalty abatement, IRS tax installment agreement, and offers in compromise to taxpayers that are unable to fulfill their tax obligations for one reason or the other. The big question is, ‘how does the IRS assess your ability to pay

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All You Need to Know About an IRS Tax Settlement

Understanding IRS Tax Settlement

Being the subject of an IRS tax investigation can be the stuff of nightmares. You must seek immediate help from a Dallas tax attorney that has experience providing IRS tax problems resolutions. The IRS offers tax debt settlement options that make it easy to manage outstanding taxes. Accessing an IRS tax settlement is as simple as filling out the necessary paperwork and submitting to the IRS. A Dallas tax attorney can discuss your case with the IRS, and help make sure that you opt for the right tax relief option and file everything correctly. In this blog, we are going

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