When Can a Taxpayer File an Appeal Against IRS Penalties?

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

Being on the wrong side of the IRS can translate into sleepless nights for those at the receiving end. While the IRS has more than a few provisions for taxpayers struggling to meet their tax obligations, in a lot of cases there is nothing people can do to overcome the obstacles they are facing, which can result in IRS penalties. Even in such cases, the IRS keeps its doors open. The Federal authority allows taxpayers to request removal of penalties, provided they meet certain preconditions. If their request is rejected, they might be eligible to request an Appeals conference or

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What Is an IRS Tax Attorney?

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

Lawyers provide an invaluable service for a variety of situations in life. They all have specific areas of specialization, which is the case with IRS tax attorneys in Dallas. IRS tax attorneys are experts when it comes to the Tax code, which is why they are best placed to help individuals and businesses regarding tax matters. Tax attorneys can assist taxpayers in appealing IRS audit results, negotiating tax settlements, and even representing you in court regarding tax issues. There are a number of problems a seasoned Dallas tax attorney can help solve. Let’s take a look at what exactly makes

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All You Need to Know About Federal Tax Liens

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

The Internal Revenue Service (IRS) imposes federal liens on taxpayers who owe taxes to the government. A federal tax lien is a document that is filed as a matter of public record with a county government, usually at the location where the taxpayer lives or does business. It informs the general public that the taxpayer owes the government money. Liens can be filed against the taxpayer’s personal property. They keep track of the entire amount owed to the IRS. If a taxpayer sells the property that is subject to a lien, the IRS obtains a portion of the proceeds before

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Tips to Qualify for the IRS Fresh Start Initiative

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

It is never a good time to be on the receiving end of IRS collection activity. Although there are multiple options available to taxpayers for IRS tax debt resolution, the process is stressful and often confusing for those who are unfamiliar with the service’s playbook. This uncertainty and unfamiliarity on its own can lead to indecision and procrastination from even the most well-intentioned taxpayers. Don’t let the bureaucracy or stringent reputation of the agents of the IRS trick you, they are still people. They understand that life and circumstances may prevent taxpayers from paying their back taxes on time. As

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2022 Tax Changes All Taxpayers Should Know

Posted by The Law Offices of Nick Nemeth on April 7, 2022

For many taxpayers, dealing with the Internal Revenue Service (IRS) can be scary, especially if you are the subject of an IRS tax investigation. If an IRS special agent contacts you regarding an IRS tax investigation, it implies there is some evidence that you may have fallen foul of the tax code. In such situations, it always helps to hire a tax resolution attorney to assist you in finding a resolution. However, the first step to IRS problem resolution is to avoid them altogether by staying updated with the changes in the Tax Code. In this blog, we are going

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A Look at Tax Inflation Adjustments for the 2022 Tax Year

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

Most taxpayers across the United States were taken by surprise when in November 2021, the Internal Revenue Service (IRS) published annual inflation adjustments for the tax year 2022. The update covered more than 60 tax provisions, including tax rate schedules and other tax modifications. It is important for taxpayers to stay updated with changes to the tax code to remain compliant. These changes will be applicable when filing tax returns for 2022 in 2023. So, this year, there’s no need to be anxious if you have any unfiled tax returns. Let’s take a closer look at the tax inflation adjustments

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Understanding the Tax Implications of Debt Workouts & Restructurings

Posted by The Law Offices of Nick Nemeth on March 22, 2022

Ever since the outbreak of the pandemic back in 2020, organizations, as well as individuals, have been finding it increasingly challenging to honor their tax obligations. That explains the rapidly increasing number of applications received for debt workouts and restructuring. While the tax authority offers numerous IRS debt relief provisions to help taxpayers to find their way out of tax liabilities, there could be certain tax implications that the applicants should know before they file their applications, starting with some basics. Bankruptcy Status Requests for debt workouts and restructurings can be filed irrespective of whether or not a taxpayer is

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All You Need to Know About IRS Revised Retirement Plans

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

It is always important to stay up-to-date with changes in the tax code to avoid IRS tax problems. The year 2022 has brought new changes to retirement plans in the US. Firstly, the contribution limit of retirement accounts, including 401(k), 457, and 403(b) has been increased by $1,000, making it $20,500 from the initial $19,500 limit in 2021. Secondly, the traditional and Roth Individual Retirement Account (IRA) contributions have increased tax deduction thresholds. Here’s everything you need to know about the changes and their effects on your income. Reason Behind Increase In 401(k) Contribution Limit The IRS sets a yearly

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A Look at the Initiation of IRS Tax Investigations

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

There are many reasons why you might end up facing an Internal Revenue Service (IRS) tax investigation. Many taxpayers don’t even know they’re under investigation regarding alleged tax evasion or tax fraud until the IRS comes looking for them. There are many different kinds of tax fraud that all attract different penalties, and without proper counsel, it is easy for issues to spiral out of control. If an IRS agent comes across incriminating information during the civil audit, it can lead to an indictment or jail time in certain cases. When you understand how the IRS initiates its tax investigations,

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3 Benefits of Settling IRS Tax Debts

Posted by The Law Offices of Nick Nemeth on February 22, 2022

There is every reason to expect bad news from the IRS once you are late with your payments. While this may be true, the IRS offers defaulting taxpayers many options to settle their tax debts to avoid penalties, interest, and other undesirable consequences. The options, such as an offer in compromise and a penalty abatement, present many benefits to taxpayers. Let’s look at some of the benefits of settling IRS tax debts. 1. Avoid Penalties and Interest The main benefit of settling IRS tax debts is avoiding additional interest charges and penalties. The IRS charges a 0.5% failure to pay

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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!