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While
IRS Tax Liens are not as serious as a levies, they are a warning shot across the bow and if action is not taken to satisfy the IRS, a levy or wage garnishment may be in the works. A lien will prevent a property owner from selling their home until the amount in question has been paid, or the lien has been removed by a court order. The way it works is should the property owner sell their property, the IRS will take the money owed from the amount from the sale. Obviously this will keep a property owner from choosing to sell any property with a tax lien.
New tax laws set in place in 2011 have made tax liens somewhat easier to remove. If the taxpayer owes less than $25,000 and is able to set up an installment agreement or other solution with the IRS, they may release the lien.
Below are several other ways under the law a taxpayer can have a lien released from their property. The first is obvious but unlikely to be a solution for most: Pay the total amount owed. Naturally for most taxpayers with a lien, if they could afford to pay...
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IRS wage garnishment can be stopped in essentially two ways; Either solve your tax problem or to cancel or delay the effects of the wage levy. Obviously it's better to resolve the IRS problem than to delay it however often an individuals situation may require some actions to delay or negate the wage garnishment, giving the troubled taxpayer time to resolve the tax issues.
Stop the Wage Garnishment - Resolve Your Tax Problems
By getting back into good standing with the IRS you will be able to stop a wage garnishment. You do not necessarily have to have paid the IRS in full to but enter into a negotiated settlement. Various programs are available to help taxpayers get back into good standing, an experienced tax attorney will be able to guide troubled taxpayer to the program that will work best for their specific situation. Below are some of the methods available to get back into “good standing” and halt wage garnishment.
Get an Installment Agreement – The IRS will stop a wage levy once you have entered into an installment agreement with them. An installment agreement works like other loans or credit cards: you must make your agreed upon monthly payments including...
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A experienced tax attorney can help for a variety of tax and business issues. In addition to the obvious need of legal help when facing IRS collections, a tax lawyer can also help companies structure themselves to best tax advantage allowing for the minimum taxes and greatest legal protections of any possible future tax dispute with the IRS or state government.
However the most urgent time to hire an experienced IRS tax lawyer is when an taxpayer or business is facing a large delinquent tax problem or a dispute over the amount of taxes owed.
Other than professional and technical benefits, working with a skilled tax attorney can offer the troubled taxpayer some peace of mind. An experienced tax lawyer will know the steps to take to halt intrusive IRS collections efforts during negotiation of the tax liability and may even reduce the amount owed to the IRS. It can be a big relief to know steps have been taken to bring the tax debt problems back under control.
Retaining An IRS Tax Lawyer Entitles You To The Attorney Client Privilege.
The single most compelling reason to use a tax attorney may be the attorney client privilege. Many are unaware of this but the...
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Taxes get the distinction of being called delinquent by the IRS under a specific set of circumstances. Once the due date of an tax liability assessment has passed or the time allowed for tax appeals has expired. Once this designation has been assigned to the back taxes the amount of delinquent taxes will be targeted by the IRS for collection procedures.
How to avoid collection actions on delinquent taxes
The obvious way is of course to pay the amount owed, however in most cases if a taxpayer could pay the amount owed the taxes would not end up as delinquent to begin with/ However it is important to act fast, even if you cannot pay the entire amount as there are options to help prevent drastic collections procedures from the IRS.
If possible pay with a credit card.
It is not a very appealing thought to pay a tax debt with a high-interest credit card but remember, the IRS has collections powers far beyond any credit card company, and they can use their authority to levy your bank account or even your wages – a credit card company would not be able to pursue the debt to that level.
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Many people from all walks of life can end up with unwanted attention from the Internal Revenue Service. From the average Joe to self employed professionals to officers in large corporations. Even the odd politcian here and there ends up in the spotlight for serious tax problems.Further more tax problems also come in all shapes and sizes with many causes – everything from not filling, filling incorrectly, owing back taxes, payroll tax problems or even criminal tax evasion.
The one thing troubled taxpayers have in common is not their problems but the solution.
IRS Tax Lawyers. IRS tax lawyers have the knowledge and experience to get federal tax problems back under control.
It’s important to note not every tax problem is the same, not every resolution will be the same, but overall there are a few main programs tax lawyers will relay on for many cases and they include most notably the offer in compromise, innocent spouse relief, installment agreements, currently not collectable or hardship status, penalty abatement, bankruptcy protection and reasonable cause.
A skilled IRS tax attorney will know which of these programs will be the correct choice depending on the circumstances the taxpayer is in. Many people have seen...
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If your Florida business has been drawing from the payroll trust fund to keep your lights on you will need help from a local payroll tax lawyer.
Few tax problems get the IRS’s attention like payroll tax issues. The IRS will pursue any laps in the payroll trust fund payments aggressively and the consequences of failing to either satisfy the amount owed or respond with legal representation will be severe.
If you are using the payroll trust fund money from your employee’s paychecks, it may seem to you a convenient way to get by in a tight spot, but the IRS will look at this as stealing from both your employees and the Internal Revenue Service at the same time!
Further more the collections efforts the IRS will employ to settle the tax debt are ruthless. They simply do not care if your Florida business survives or not – they want their money at all costs and will put a padlock on the doors and auction off all of the businesses assets to get it.
There is hope however! If you act before it’s too late a skilled
Florida payroll tax attorney can put the collections efforts on hold while your tax settlement...
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While there are many reasons to hire a local Sarasota tax attorney for tax problem resolution there are two major reasons above all others
Reason One – Confidentiality During Your Tax Case.
If you are in trouble with the IRS only an attorney can give you the attorney-client privilege. Why is the attorney-client privilege important for tax law cases? Easy - your attorney is exempt from testifying against you. That’s right, should your tax liability case go to trial, and you have chosen to work with a CPA or tax preparer for help, your CPA could actually be made to testify against you!
The very people most familiar with your tax and financial situation would be forced to spill the beans on any damaging information they may have during your trial. Don’t take this risk, only work with a certified tax attorney if the IRS is taking actions against you.
Reason Two – Expertise To Make the Right Decisions
Only a
Tax lawyer will have the experience in achieving tax settlements. While a CPA may be familiar with some tax settlement programs, they will not have a full understanding of the and ins and outs of the various programs. Tax laws and...
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Learn The Truth About The OIC Program
By now, most troubled taxpayers looking for a way to resolve their IRS debt have seen commercials from large tax debt relief services claiming taxpayers paid tens of thousands of dollars by paying only pennies on the dollar. Reactions to these commercials by taxpayers vary from "Wow I wont have to pay all this tax debt" to "It's scam no one really gets out of paying that much money to the IRS".
The actual truth about the "Pennies on the dollar" is somewhere in the middle.
While it is true some taxpayers can negotiate their tax debt by paying only pennies on the dollar with
the offer in compromise program, the IRS has a very strict set of rules and a small percentage of taxpayers will actually qualify for the OIC program.
To help understand the Internal Revenue's reasoning and motivation behind the OIC program it's important to remember the IRS is not allowing a negotiated settlement because they want to be nice. The IRS is accepting debt settlement offers for less than the amount owed because they feel they will either they will get their money faster, or that they would not otherwise be able to...
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As an IRS tax attorney, I recently have had a number of questions about whether or not the IRS can levy on Social Security benefits. Many people are under the impression that the IRS cannot take your Social Security benefits. However, just the opposite is true. The IRS can take your Social Security to satisfy a tax debt. In fact, not only can the Federal Payment Levy Program allow the IRS to dip into some Social Benefits paid to you, but it can also take money that you’ve received from:
- Federal employee retirement annuities,
- Federal payments made to you as a contractor/vendor doing business with the government (including Defense contracts),
- Federal employee travel advances or reimbursements,
- And some federal salaries.
If you have questions about the IRS taking your Social Security benefits or any other IRS related questions, please contact Tax Attorney Mary E. King at (941) 906-7585 for your free consultation.
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Are you worried about your IRS problem? Losing sleep? Join the club. I hear that a lot. People will sit up at night and let their IRS problems eat away at them, night after night…causing them to lose sleep.
Is your IRS problem worth sacrificing your health…or your life? Stress can be a killer. Literally. Stress can lead to heart attack, hypertension, stroke, cancer, diabetes, depression, obesity, eating disorders, substance abuse, ulcers, irritable bowel syndrome, memory loss, autoimmune diseases (e.g. lupus), insomnia, thyroid problems and even infertility.
Procrastinating and hoping that your IRS problems will just go away is causing you a boatload of stress…But chances are that you may not have considered what that stress is doing to your body on a long-term basis.
What about the effects on your marriage? Numerous studies have shown that the money problems are the #1 source of arguments in marriage. Money problems caused by credit card debt, loss of a job, unforeseen expenses – you name it...all of these can be stressful on a marriage. But if you toss an IRS problem into the mix, you may have a recipe for disaster.
The IRS has more far-reaching power than any collection agency could. So...
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