No one enjoys paying taxes. In fact, most people cringe at the idea of having to hand over a significant chunk of their earnings to the IRS. But all personal preferences aside, paying taxes is an absolute necessity for law-abiding citizens. Many people, however, try to cut corners and save some money by exercising questionable practices. From IRS payroll tax payment transgressions to concealing foreign assets, people are getting more creative by the day. But, do you know how these practices impact your legal standing? Are you guilty of committing a tax crime, or have you simply committed an innocent
Not paying your taxes is an easy mistake to make. Ignorance or forgetfulness are the common culprits. The more you put off your IRS debt responsibilities, the worse the problem can get. No matter how innocent the reason for neglecting your IRS tax debt is, the consequences can be serious. In fact, in some cases, back taxes could even land you in jail! While seeking professional help is the best approach when you owe back taxes, you too must be aware of the basics. That is precisely what we cover in this blog post. Let’s start with some basics. Can
IRS tax issues are capable of spiraling out of control really fast. Having an experienced lawyer on your side helps to solve these problems and bring peace of mind. The Law Offices of Nick Nemeth, IRS Tax Attorney in Dallas, focuses solely on helping our clients and providing them with the best solution for their problem. Our team of tax resolution attorneys are passionate when it comes to fighting for our clients. Negotiating with the Internal Revenue Service may be intimidating to deal with on your own and we are here to help. Scope of IRS: Assets and Possessions Federal
Received an IRS tax letter to seize your assets? Not all is lost. One of our qualified tax attorneys can help you find the best course of action to prevent you from losing control over your valued possessions. The IRS has the authority to react with a tax lien or levy when a citizen fails at fulfilling their taxing duties. Essentially when you don’t pay taxes, you owe money to the IRS. In order to secure the payment of such debt the IRS might decide to impose a tax lien, securing your assets as a guarantee of payment. If the
Offer in Compromise, or OIC, is a provision initiated by the Internal Revenue Service to help taxpayers who are unable to clear their tax debts. If an OIC is approved, the IRS agrees to settle the debt for an amount less than the actual debt. To decide the qualification of an OIC application, the IRS looks at the taxpayer’s circumstances, income, property, ability to pay, expenses, assets, and various other dynamics. Continuing on the subject, in this blog post, we present five tips for filing an IRS Offer in Compromise. Read on. 1. File Tax Returns The IRS puts taxpayer
Every year millions of people face IRS tax related problems such as unpaid taxes, liens on assets, and various types of penalties for different reasons such as noncompliance, provision of inaccurate information, and late filing. No matter the problem, the IRS tax lawyers at the Law Offices of Nick Nemeth are equipped to help you carve out a solution and deliver the IRS tax problem help you need. Continuing on the subject, in this blog post, we present some common mistakes to avoid at all costs, when up against IRS tax problems. Read on. 1. Do Not Ignore any IRS
If the IRS ever makes an amendment to your tax return that you do not agree with, you have the right to appeal against the decision. The IRS Office of Appeals offers a way to resolve disagreements with the IRS that relate to your financial assessments. Taxpayers are entitled to get a written response within a certain period of time after they have appealed against an IRS decision, including penalties. If you are wrongly penalized by the IRS, this blog post is for you. Read on as we cover all the details of the process of appealing against the IRS.
Taxpayers who fail to file their returns or pay their taxes are given a one-time waiver known as the first-time penalty abatement (FTA). Common penalties such as failure-to-file, failure-to-pay and failure to deposit can be revoked with the help of an FTA. In most cases, IRS is willing to negotiate with the taxpayers to agree upon a mutually beneficial settlement. While experienced tax attorneys from a reputable law firm such as the Law Offices of Nick Nemeth can help you request IRS penalty abatement, it is advisable to be aware of the common mistakes people commit in the process. Continuing
Millions of Americans run into trouble with the IRS every year. Be it unpaid taxes or unfiled returns, wage garnishment or a tax lien, most problems can be fixed with the help of an IRS tax attorney. If you happen to have a run-in with the IRS, let a licensed tax attorney handle it and negotiate an agreement for you. While you can always rely on the IRS tax lawyers at the Law Offices of Nick Nemeth to help you out with all your IRS tax problems, it is sensible to stay aware of the basic steps to be taken
Most people end up in a state of panic when facing an IRS tax levy, as the possible repercussions are not limited to their bank accounts or wages. When a taxpayer receives a tax levy notice from the IRS, it is possible that the IRS may even freeze their assets. The IRS is legally authorised to hold on to your assets and your bank funds if you neglect or fail to pay your taxes. Thankfully, there is still hope. So, if you have been wondering, ‘how to stop an IRS tax levy’, this blog post is for you. Read on.