Tax Solutions

How to indicate if your identity was stolen and ways to safeguard your identity from theft.

Your identity may have been stolen if you have filed your tax return and have found that someone has already filed your tax return using your information. Also, if you have a tax balance due to the IRS and refund or collection actions have been taken against you for a year that you did not file your taxes.

If you receive a letter from the IRS and you feel that your identity may have been stolen, you should respond immediately to the name, address, phone number that is listed on the IRS letter please contact the IRS and your tax lawyer as soon as possible to resolve this matter.

There is also a unit of the IRS that responds to identity theft outside of the US and if you feel that you have been at risk due to a lost purse or wallet, questionable credit card activity, you should call the Identity Protection Specialized Unit so further steps can be taken to secure your account.

More on identity theft tax related issues... ...read full post

Owe the  IRS money? You should know the IRS can file a tax lien on your home in an effort to collect the tax liability.  This means that they are taking their legal claim to your property for having not paid the taxes that you owe them. That is critically important since you could potentially lose property that you consider to be in your ownership at the moment.

Clearly, no one wants to be put in a situation where they are having to pay an IRS tax lien. This would be a terrible situation where you would lose out on holding on to the things that matter to you. There are three steps that must be taken before a lien can be taken out on you. The first is for the IRS to assess your liability, then send you a bill for how much you owe, then if you refuse to pay in time the lien will take place. That is the very important part. There are steps that must be taken, but you can still get to the point where the IRS places a lien on you.

Once you have been given an IRS tax lien, it is important to try to defend yourself. You want to get a lawyer who can help you... ...read full post

An experienced tax attorney can help you with a variety of complex legal matters related to tax issues. Their specialized training includes not just resolving back IRS tax debt but also personal estate and corporate tax planning allowing individuals and corporations to keep more of their income. A taxation specialist lawyer can guide you through the technical issues related to estate planning or offer assistance with filing a tax return for an estate.

A lawyer that specializes in tax law can also offer you legal advice if you are a business owner and if needed legal representation in US Tax Court. Having a knowledgeble tax lawyer when you are starting a new business can prevent you from making costly mistakes that must be corrected down the road. This way you can learn about tax issues pertaining to your company and how to handle them. You can also get counsel on legal agreements such as buying or selling a business, as well as handling the taxes related to those transactions.

Managing business expenses, deductions, bankruptcy, and depreciation in value are also areas that are covered under tax law. Some companies even keep a tax lawyer on retainer just in case any unexpected business related issues arise.

...read full post

The saying goes, "Only two things are for sure in life: death and taxes." And for some, this could not be more true. Tax season can be a very stressful time of year for many, especially those who owe money to the government that they simply do not think they can afford to pay. So if you are one of many people who owes taxes to the government and is worried that you are soon going to be facing a levee on your bank account or garnishment of wages as a result, then you may want to look into the option of hiring a tax defense lawyer.

You might be surprised at just how much assistance a qualified and experienced tax defense lawyer may be able to provide you with, so long as you end up choosing the right one to represent you. After all, many tax lawyers out there these days that are available for hire will help when it comes to filling out legal paperwork prior to a trial, but are nowhere to be found when it comes to actually representing you on your day in court.

However, if you go with this particular tax defense attorney, you can enjoy the peace of mind in knowing that you will get the full representation that you need in order to have a... ...read full post

In the event that you owe taxes to the government, the IRS could seize your retirement account. Normally IRA accounts are shielded from creditors up to the one million dollar mark but this is only for normal creditors. If you are in a situation that you that you may owe money to the IRS then you will loose the benefit of not being taxed on the money that is in your IRA.

If the IRS seizes funds from your retirement account this could impact all your retirement savings. First, the IRS places a federal tax lien on your IRA for the payment of unpaid and past due taxes. Then the IRS sends you an intent to Levy. Once that has been sent the IRS will levy your IRA account by taking your money to pay your federal tax debt. Before the IRS levies your money they will provide you will the allotted time to pay the money that is owed which is usually 30 days from the time that you receive the bill. If there is a negotiated payment plan made with the IRS then you will be given extra time to pay off your IRS payments.

There are ways to help form having your IRA levied by filing a 656 form for an offer and compromise if your believe that there is no way for your to pay... ...read full post

Even though the odds of being audited are low there is still a decent chance of a little more than 1% that an individual tax return will be audited. There are various factors that will increase your chances of being audited by the IRS which includes but is not limited to income level, whether there is an income discrepancy, losses that were claimed, the business that you are engaged in or various math errors. Just being aware of these red flags will lower your chances that the IRS will audit you.

1. Too Much Income

The individual rate of being audited by the IRS is 1.11% these odds will increase for higher income earners. Statistics show that people with an income of 200,000 or more per year will have an audit percentage rate of 3.93% . If your income is more than a million dollars than there is a one in eight chance that you will be audited. Anything that is less than 200,000 will drop the audit rate significantly. The higher the increase of income that is shown on an income tax return the higher the rate of an audit by the IRS.


2. Failing to Report all your taxable income

All reportable income on W2's and receipts must be shown on your tax return. If there is a mismatched amount of income than the IRS sends up a red flag and that taxpayer will then get a bill. If there is a... ...read full post

IRS tax liens are something that should be avoided if possible. No one wants to wake up one morning and find all the money in their bank account has been taken by the IRS. It is also embarrassing to have the IRS take money out of their paycheck at work. Most people find this a personal problem and do not want to share it with their employer. Of course worse then being embarrassed, is the problem of a big share of the money missing in the paycheck. It is a bad situation and one that calls for professional help.

The IRS will not stop taking money until something is done. Most people are not able to find the right resources to make that happen. They are stressed and confused and not sure where to turn.

There are professional tax attorneys who work with this everyday. They can often stop a levy in 24 hours if the amount owed the IRS is under $25, 000. If it is more, it might take a couple of days longer. But, in the end, they will be able to stop the levy.

Find a good tax attorney as soon as possible for the needed help. Not any lawyer or attorney can do this. There are specialists who understand the laws and what needs to be done. IRS tax liens are nothing to be taken lightly. The IRS will send out certified letters to the... ...read full post

Many people owe the state or federal government tax money. The longer they put off paying, the more penalties are added to the bill. It continues to grow and some people cannot find a way out of this difficult circumstance. They aren’t sure who can help them and if they call or write the IRS, the situation often gets worse.

There are expert tax lawyers who are trained to help. It is their specialty and often it is necessary to contact one, to get help with stopping the IRS from levying wages, and bank accounts.

The IRS will send out a registered letter stating the fact that they are going to garnish the wages of the person who owes back taxes. The letter will also say they are going to take money out of the bank accounts of the taxpayer. This can be a very difficult thing to stop. It also creates several problems. The person owing the taxes will not have money to live on and will only be in worse shape. These people need help and most of them don’t realize that there are attorneys who specialize in helping taxpayers repay back taxes and stopping the levies. Many times they can get the levy stopped in 24 hours.

No one should ever overlook a letter that says that they are going to be levied by the IRS. There will no warning. Someone will go to pick up their pay check only to find that half of it went to the IRS.

It... ...read full post

At some point, everyone can expect to run into some kind of thorny issue with respect to their personal or business taxes. In the United States, the tax laws are so voluminous, convoluted, and complex that it is a genuine wonder why more of us don't find ourselves amiss of the many rules and regulations of the IRS. For the most part, people don't usually need the help of any kind of tax professional beyond their yearly visit to their tax preparer, but when serious matters come up, it pays to be educated about what one is up against, and who best to turn to when the time comes.

As one can imagine, there are different types of tax professionals. The duties of accountants and tax lawyers often overlap although they will frequently employ different approaches to their work. Accountants are adept at helping clients maximize their income by finding ways to prune expenses and minimize tax liability. Tax attorneys on the other hand begin their work by examining their work with an examination of how the law applies to their cases. This is so because they understand that the tax laws as written favor the taxpayer most of the time. When a taxpayer finds himself in any kind of serious trouble or dispute, there is no question as to whom to speak to... ...read full post

In the event that you find that you are unable to pay your taxes to the IRS, you should expect that they will come after you for that money. Those who are far behind on their payments can expect IRS levies to start to come into play. This means that they money that they earn at work can be taken from them in order to pay down those tax debts.

There are some things that the average individual can do to fight back against this system. For one thing, anyone can hire a lawyer to help them fight these levies. The tax lawyer will do what he or she can to try to get the IRS to back off, at least to some extent. The IRS would prefer to get some of their money rather than none of it, so they are often willing to negotiate. This is particularly true if they can tell that you are serious by the fact that you have hired a lawyer to help you out. When they see this, they are far more likely to try to meet you halfway somehow.

Your tax lawyer should be the best in the business. You want someone who has negotiated with the IRS in the past so that you know that his or her skills are top notch. There is no reason to hire someone who can not provide all of this to you. As such, it is important to search the Internet for those who... ...read full post

When it comes to the money that we have worked hard to earn, most of us really want to make sure that we are able to protect it. After all, what is the point in having gone through all the trouble earning that money if we are not able to keep it? That is what many want to know, and this is why it is important to hire a payroll tax attorney if you feel that your money is being unfairly taken from you by the IRS.

The IRS goes through certain processes in some cases to take the money that is owed to them by taxpayers who have not made their payments. When this happens, there are obviously quite a few people who are very displeased with the results. They do not want to have this money taken from them because they feel that they have no right to do so. This may or may not be the case, but the only way to get to the bottom of it is to hire the tax attorney that you require to get everything figured out.

The payroll tax attorney is going to have specific knowledge about the way in which the tax code works in these situations. He or she will be able to direct you to the things that you need to know in order to solve the problems that have come up. In fact, the lawyer is actually going to handle the vast majority of these issues for you... ...read full post

Even though there are a few things in life that will always be scary, entanglement with the Internal Revenue Service always seems to top the list for most people. Nothing seems to trouble individuals more than the thought of losing their financial security and their peace of mind all because of an error in your income taxes.

When it comes to your income taxes, do not be alarmed completely. There is help out there from which you can choose. In the end, you are the one that needs to recognize you will need to spend the necessary money and take things more seriously than what you did in the past. Don’t try to go through this ordeal on your own. If you try to do so, you may find yourself in more trouble than what you ever dreamed possible.

When faced with an IRS tax lien, many people don’t know where to start. Even though it seems as if you are stuck in a situation with no way out, plenty of options exist from which you can choose for your situation. If you have an IRS tax lien attorney on your side, they will help to walk you through the process from start to finish and ensure everything is properly addressed for you.

Hiring a Sarasota tax attorney will help provide you with the level of security you need to make sure you do not end up in a situation worse than what you are already in with the IRS. A... ...read full post

If you owe a large amount of back taxes or are faced with a debt this year that you feel that you are unable to pay, it can be stressful, to say the least. The longer that you put off paying the IRS, the more stressful it will get. The worst thing that you can do in this type of situation is to ignore correspondence from the IRS, because this will set other legal proceedings in motion against you to collect the debt. You could end up having your wages garnished or a lien put on your property, in serious cases. Using a tax lawyer is recommended when you don't know where else to turn, because they can help you find ways to settle your debt. One of these options is known as an Offer in Compromise.

It's important to understand that the Offer in Compromise program is not an option for all taxpayers. You will have to prove that you meet the requirements to qualify for this debt settlement options, with the help of your lawyer. It's estimated that only 1% of offers that are submitted are actually accepted by the IRS, which is why it's not recommended to attempt this on your own. Your individual financial situation will need to meet the requirements as set forth by the IRS.

To qualify for the Offer in Compromise option, you will have to prove that there is either doubt as to liability, or doubt as to collectability of your... ...read full post

Yes, they are all famous recording artists, but they all also have IRS problems.

Most recently, R. Kelly had over $4.8 Million in federal tax liens filed against him by the IRS in Cook County, Illinois. The taxes that he owes are for income earned between 2005 through 2010.
In Lauryn Hill’s case, she failed to file tax returns for 3 years: 2005, 2006 and 2007. In addition to penalties and interest, she can also be facing prison time for failure to file.
Sharon & Ozzy Osbourne have had several tax liens filed against them by the IRS for failure to pay their federal taxes. The largest lien placed against them by the IRS was in the amount of $1.7 Million for their outstanding 2008 and 2009 taxes. To date, of that amount, approximately $719,000 has been paid to the IRS.

How do celebrities who make so much money get in trouble with the IRS? Most celebrities blame their financial planners, accountants, and business managers for their tax troubles. The celebrities rely on these individuals not only to assist them with their daily activities, but also with their finances. Perhaps they are making the wrong decisions about who to trust with their money. Celebrities can afford the have the best people in their corner, but that’s not always who they choose. Many times it is the person who will agree with them and be the “yes” person.
You may be asking yourself, “How does... ...read full post

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 the entire amount owed, they would have done so. However may people do not realize they can use credit cards to pay the IRS. A taxpayer may be able to use a combination of credit cards cash and loans to pay the IRS. This is advisable if possible because in... ...read full post

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 interest until the amount owed is paid off. To stay in the installment agreement, the monthly payments must be paid on time. The amount paid each month must allow for the entire amount owed to be paid in full within 3 years.

Submit an Offer an Compromise – Many people may... ...read full post

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 only person exempt from testifying against you in a tax case is your attorney.

To put it in another light – if you chose to have a CPA help you during a tax problem the court can have your CPA and accounting firm testify against you! Obviously they would be... ...read full post

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.

Contact a qualified Tax Attorney and they can help negotiate an installment agreement.

This is away of paying the IRS debt in smaller monthly payments and preventing the IRS from taking more drastic measures. Again retain a skilled tax lawyer for help with negotiating an offer in compromise. Even if your petition to... ...read full post

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 TV commercials advertising settling huge tax debts for “pennies on the dollar” however in most cases the tax payer will not qualify for such a program. However an attorney will be able to negotiate to either reduce the debt down or break the amount into payments, or delay the collection... ...read full post

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 case is negotiated for your behalf. It’s important to get qualified legal help from a local Sarasota Tax Attorney and not from a large tax service. Only a local tax attorney will have the knowledge, skills and commitment to successfully represent a Florida business owner during a payroll trust... ...read full post

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 codes are complex and many times change yearly. In addition there are many programs available a troubled taxpayer can use to settle or reduce the amount of tax liability owed but only an experienced tax attorney will know how to qualify you and to determine both the best program to... ...read full post

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 collect any funds at all.

To Qualify for an Offer In Compromise the taxpayer (or their tax attorney) must show either of the following:

Doubt of Collectability

- Doubt of collectability means the amount of tax liability is correct but the taxpayer will be unable to ever pay the full amount... ...read full post

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.

... ...read full post

The word attorney signifies someone who knows the legality of things. In fact, when things go wrong in the hands of law, people are likely to run to the midst of attorneys. In the field of legality and law, these attorneys are the experts who can provide you with the ample insights you need and the advices that will possible let you be rid of the troubles.

More and more people are also aware that being attorneys who are able to play with the ups and downs of the law, they do earn handsome pays. Half of it is true. Why not? Their services often require a high payment.

More so, there are several people who desire to become attorneys. They think that their financial satisfaction can be achieved through being in the field of law. Indeed, in several states, there are lots of vacancies for several sorts of attorneys whether they are experts in the areas of business, estate, income, international taxes, or with properties.

The aspiring attorneys usually seek to have strong foundations and background from the finest law schools. They even prefer to get their degrees from stable and famous universities. They believe that their luck in landing a job will depend on the school of theirs which they will get affiliated with.

After graduating from the law school and passing the licensure exams, attorneys have the option to either work for the... ...read full post

The internet connects people to a lot of information. Through the internet, a person can find and access information regarding Florida tax attorneys any time of the day and from any type of location. However, the internet can also be a pretty confusing resource. A person can have some difficulty trying to find the kind of information about Florida attorneys that he or she wants.

Here are some tips to help you out:

1) Know your purpose: Why are you looking for information about Florida tax attorneys? Is it mainly for research purposes or are you looking to consult with a lawyer? This will tell you what kind of information you need. There are two types of information that you can be looking for: contact information or comprehensive information. If you are doing research on Florida tax attorneys, then the second one would be the type of information you need. You should be looking at websites that offer explanations of how Florida tax attorneys can help you with various tax problems.

If, on the other hand, you want to avail of the services of a Florida tax attorney, then you should be looking for contact details. You won't need to visit websites with complicated explanations regarding tax laws and IRS techniques, you only need a brief description of a certain Florida tax attorney's services and contact details and you'll be done with your... ...read full post

Locating a good tax attorney in Florida requires a little bit of finesse and a large portion of resourcefulness. Here are some tips you can use:

1) Never underestimate a resource. Most people today are so caught up with the developments of technology that they rarely pay attention to existing sources of information. What you should learn about information is that it can be found everywhere. You should try to consider every type of source that you have at hand and search. If you really want to find a good Florida tax attorney, you should not just try to look for one but actually look for one!

The key to finding any type of information is to tear down any limits. You cannot just limit your search to the internet; you should try to use other sources too. Never underestimate any resource in your search for a great Florida tax attorney.

2) Know what you want. This translates to "be specific" when you are looking for a good Florida tax attorney, be sure that you know exactly what you are looking for. There are many tax attorneys out there and they all have different areas of specialization. In your searches, specificity will help you narrow down your list of prospects and actually get you results much faster.

A Florida tax attorney can be quite easy to find. However, finding a great Florida tax attorney can prove to... ...read full post

The procedures for the foreclosure of the tax liens vary from one state to another. There are some states which do not impose too much requirements from you as the taxpayer so everything will go on quite easy. You just have to petition your country court or go through all of the application processes with the aid of a Florida tax attorney.

The proceedings really eat up too much time and too much money. But such case can be more handled with a Florida tax attorney. There are states which make things harder. Once your property is held up for foreclosure sale, there is a possibility that you will be relieved of the property since it will be awarded to the highest bidder. But of course you will receive your lien.

If you are wondering as to how much percentage of the tax liens of your property will go straight to your pocket, it is important that you consult a Florida tax attorney who knows these things.

Being equipped with the necessary knowledge and skill on liens on the tax, your Florida tax attorney can provide you with the answers to your queries. Other states offer only up to ten percent of the tax liens. There are a number of states which impose the rule of having higher percentage amounts for property tax liens.

The foreclosure of any property does not come as a piece of cake. Investing... ...read full post

Locating a good tax attorney in Florida requires a little bit of finesse and a large portion of resourcefulness. Here are some tips you can use:

1) Never underestimate a resource. Most people today are so caught up with the developments of technology that they rarely pay attention to existing sources of information. What you should learn about information is that it can be found everywhere. You should try to consider every type of source that you have at hand and search. If you really want to find a good Florida tax attorney, you should not just try to look for one but actually look for one!

The key to finding any type of information is to tear down any limits. You cannot just limit your search to the internet; you should try to use other sources too. Never underestimate any resource in your search for a great Florida tax attorney.

2) Know what you want: This translates to "be specific" when you are looking for a good Florida tax attorney, be sure that you know exactly what you are looking for. There are many tax attorneys out there and they all have different areas of specialization. In your searches, specificity will help you narrow down your list of prospects and actually get you results much faster.

A Florida tax attorney can be quite easy to find. However, finding a great Florida tax attorney can prove... ...read full post

Many people are wondering why there are so many lawyers running around in the country. Some share the opinion that there is entirely too much law. Whenever they encounter people such as Florida tax attorneys, they often ask themselves, "What do we need another one of those for?" To some people, a lawyer is a lawyer. In order to understand our need for Florida tax attorneys, why don't we try to see what they can do?

1) Help us with our fear Let's face it: for some people, the prospect of facing the IRS is even scarier than facing the FBI. This is because of the fact that the IRS is very good at intimidation tactics. This, after all, helps speed along a person's payment. A good Florida tax attorney can help you overcome this intimidation simply by letting you know exactly where you stand in the law.

Once a Florida tax attorney has helped you get over your fear of the IRS, you can begin to truly fix your problems. You can begin by questioning exactly why you have to pay what the IRS wants you to pay.

2) Research: A good Florida tax attorney does excellent research work. This is necessary if you intend to handle your problems wisely. Information is the key to reaching a viable solution to any problem. By researching on the problem that you are facing, a Florida tax attorney ... ...read full post

Most Florida couples file their joint income tax returns. Meaning, both of them are legally held to be individually and jointly responsible for the payment of the rightful sum of taxes. The spouse who has a limited source of income is made to be held responsible in the event that the other spouse fails to pay the correct total of the due taxes. The innocent spouse is by and large the one who usually gets into default with the seizures, audits, and tax levies.

Such situation will only be averted if the married couple files a separation or a divorce. It is during these occurrences when both parties get devoid of the fact regarding the exact amount of the taxes owed by one another.

During the time of the separation or divorce, the couple is advised to file their income tax returns jointly while this results to the payment of lower amounts of taxes. The situation becomes a medium for tax indemnification. This means that neither of them is to be held up responsible for the liabilities of each other with their own tax dues. The bad part to this is that the IRS will get its hand to the innocent spouse when one party fails to pay his or her dues regardless of their being divorced, separated, or being still together.

Isn't it such a stressful condition? This can be alleviated though. All you need... ...read full post

First of all, facing the IRS means that you either haven't hired an accountant, or your current accountant has done a pretty bad job of managing your finances. This means that it is already too late to hire another CPA to fix your problem. The IRS has already done the math, so you will be wasting resources if you hire another person to do it all over again. You need to focus on areas that you still need to prepare for. What you need is a competent Sarasota, Florida tax law attorney to help you with the legalities that you will be facing.

There is also the issue of client-attorney confidentiality. While a CPA can be forced to divulge any information concerning your accounts to a court, a tax law attorney is legally exempted from doing so. Remember that this confidentiality can be extremely important during trials.

Another advantage that tax attorneys have over CPAs is a deep understanding of the ambiguity of tax law. CPAs are trained to recognize something as either black or white. They are trained to categorize things very specifically and may not recognize the various gray areas of tax law. A good tax law attorney knows that the law can have a thousand different interpretations and uses this fact to your advantage.

A tax law attorney can also help you by giving you truly complete advice. This is because of the... ...read full post

Running a company or just running the personal finances is not always going to be so easy. In fact, those who do not follow the law and pay their taxes might run into a lot of trouble with the IRS. There are many out there who will turn to a tax attorney for the right amount of help. There are numerous tips to look into before hiring an individual for the much needed job. Those are in need of various services including strategic tax planning will need to make sure that they use this guide right now. This is the best way to seek a tax attorney - hire a business tax attorney within the shortest amount of time possible. Take note of the services that are offered to individuals and how the professional will be able to help. The sooner the search begins, the sooner the taxes can be taken care of so get started.

It is important to sit down and assess the current needs. Those who are thinking of opening their own business do need to ensure that everything is put in order, before the doors even open. This is going to include hiring the right people to guide the individual through the process so that they do not run into any trouble. The business owner needs... ...read full post

Warning by Florida Tax Attorney Highlights Importance of Checking Details When Preparing Taxes

Taxpayers should pay attention to every detail of their tax returns, according to Florida tax attorney Mary E. King.

That's because attorney Mary E. King said a variety of simple mistakes — including math errors, absentmindedness, inaccuracies as a result of rushing to complete returns, etc. — can all lead to nightmare scenarios if the Internal Revenue Service (IRS) targets them for an audit.

"Taxpayers should prepare their returns as if they were interviewing for a job,"Mary E. King said. "Like a job applicant wanting to make a favorable impression and be honest about their background, taxpayers should prepare returns that are complete and that they know are correct."

Attorney Mary E. King suggested several tips that taxpayers should remember to assure their returns are free of mistakes that include:

• Always using a calculator when preparing returns. This is important even for the simplest of additions or subtractions because a minor mistake can snowball into a larger one in terms of the final amount reported on a return.


• Taxpayers should never complete returns when they are tired or rushed. Attorney Mary E. King said that doing so can result in mistakes that may be minor but, as with math problems, IRS tax problems can worsen later as a result... ...read full post

Is it really possible to pay the IRS “pennies on the dollar” and have the rest of your tax bill forgiven? Yes – it is possible…but it’s not very likely. It’s called an Offer-In-Compromise - and it used to be the only legitimate way to negotiate an actual lowering of the amount of taxes owed to the IRS by a taxpayer…sometimes far less.

However, since the IRS has seen so much “abuse” of this particular method of tax relief in recent years, they have shown by their actions that they are less and less apt to accept an Offer-In-Compromise.
In a press release dated October 2004, the IRS stated “This program serves an important purpose. But we do warn taxpayers to watch out for unscrupulous promoters charging excessive fees to taxpayers who have no chance of meeting the program’s requirements,” said IRS Commissioner Mark W. Everson. “Taxpayers should not be duped by high-priced promises.” In fact, as of 2006, the IRS now rejects 85% of all Offers-in-Compromise.

Although an Offer-In-Compromise is one option for paying off IRS debt, it may not be the right option for you. There’s no sense in pursuing this payment option with 15% success rate if there’s little hope that it will be accepted.

In fact, if you choose to hire a lawyer to represent you before the IRS, it’s... ...read full post

Paying back IRS taxes may cost Florida federal taxpayers more than they realize as a result of IRS fees and tax penalties, interest and other factors, according to Sarasota Florida tax attorney Mary E. King. It’s important taxpayers not only realize that improperly dealing with their IRS tax burdens can cause them more than they might have initially paid the Internal Revenue Service (IRS), but also understand how tax attorneys can help ease their tax burden.

A taxpayer who thinks they can escape the wrath of the IRS by simply paying taxes on a few items they neglected is likely to be in for a very unpleasant surprise. That’s because there are a series of items the IRS can go after that can create a nightmare scenario where taxpayers are concerned.

Taxpayers who do not know the best solutions in dealing with the IRS can be putting themselves at further risk. She said paying all taxes due to the IRS on time is the best way to prevent the accumulation of tax penalties and interests, thus avoiding IRS tax problems in the first place.

But she adds that a skilled IRS tax attorney is invaluable when it comes to sharing their expertise about other issues that include:

• The inability to pay taxes by April 15th, with attorneys available to provide information about how to deal... ...read full post

When I counsel people dealing with IRS problems, I usually end up asking the one big nagging question ...“Why did you wait so long to do something about this?” Here’s the usual reply: “I thought I would end up going to jail.”

Let’s go ahead and get something straight about the IRS and prison time…

“If You’ve Accurately Filed Your Taxes You Cannot Get Sent to Jail.” If you’ve accurately filed your taxes, but you just haven’t paid them, you cannot get sent to jail. Owing the IRS money is not considered a crime.

However…Don’t be in a hurry to celebrate…By not taking action and facing your IRS debt problem, you could face any or all of the following severe consequences:

*Wage garnishment
*Seizure of your real estate
*Seizure of Social Security benefits
*Seizure of 401(k)’s, IRA’s
*Seizure of Cars/Boats/Houses
*Seizure of Accounts Receivable
*Seizure of Cash Loan Value of Your Life Insurance
*Seizure of Commissions Owed to You

If you’ve filed your taxes accurately, but you just can’t pay them…there is hope for you. There are six different ways available to pay your debt to the IRS and avoid the particularly nasty consequences mentioned above.

“You Can Go to Jail if You Haven’t Filed Your Taxes > OR < If You’ve Filed Your Taxes Inaccurately” Not filing your taxes is considered a crime by the IRS. You can receive one year of prison time for each year that you don’t file. Procrastinating only makes your chances of... ...read full post

Over the years as I have been representing clients who have IRS problems, the IRS has been strict in its official requirements for accepting an Offer in Compromise (OIC). However, over the past year, with the downturn in the economy, the IRS has relaxed its unofficial position on its requirements for accepting an OIC, as well as other tax debt settlement options. Therefore, I have seen more taxpayer clients who have been able to qualify for an Offer in Compromise.

Generally speaking, an Offer in Compromise is where the IRS accepts less money than the taxpayer owes to settle their outstanding liability with the IRS. The IRS will only accept an OIC when all other tax collection alternatives have been exhausted. Other IRS tax collection alternatives may be a short extension of time to pay, an installment agreement (making monthly payments until the debt is paid in full), full payment of the debt or hardship status. Hardship status is where the taxpayer is unable to pay anything against their tax liability at the present time. It is usually a temporary solution due to unemployment or illness. Finally, a taxpayer may qualify for a bankruptcy discharge of the tax liability.

When the IRS considers an OIC, it is looking at the taxpayer’s Reasonable Collection Potential (RCP). The RCP is how the IRS determines whether or not a taxpayer has... ...read full post

Men are governed by laws not by men. Moreover, almost every aspect of your life is invaded by the laws of the land. From the disposition your properties, to the expected norms in the society and eventually to the manner of paying tax contributions, no one is considered above the law. For that reason, there are things that you need to comply and consider in order to adhere to what the law expects of you.

Tax laws may seem complicated depending on the state you are in. Sarasota, Florida tax attorneys may have different legal advice compared to a tax attorney in Mexico. This is because the tax system of different states is diverse. Tax law, which is a codified system of laws that covers government levies on certain business or economic transaction, imposes taxes. These taxes are delivered back to taxpayers by way of government projects. If you failed to do your duty as a taxpayer, you will be punished.

Tax law is a sub-discipline in law schools. They are consultative in nature however; they can be used in litigation purposes. Tax law is crucial in business as well as personal planning matters. If you are facing an Internal Revenue Services (IRS) trouble, you need a Sarasota, Florida tax attorney to assist and defend you.

Tax laws demand that you keep tax records for the government to check. Records can also serve as proof of... ...read full post

Penalties and interest are adding up by the day if you haven’t paid the IRS what you owe them. And they’re adding up big-time if you haven’t filed at all.

Did You File and Not Pay?

If you did, there’s interest being compounded daily on what you owe, which is the quarterly federal short-term tax rate, plus 3%. As of this writing, the IRS is charging 8% per year.

In addition to interest, you’re also being charged a Failure-to-Pay Penalty, which is .5% of the tax owed for each month. There is no maximum for the failure-to-pay penalty. If you’re sent a number of notices from the IRS and you still don’t pay, the penalty increases to 1%.

What You Should Do If You Filed and Didn’t Pay?

The most obvious answer is to pay the tax debt.…it’s better to owe anyone other than the IRS. Why? Because the IRS has more power to collect in ‘mean and nasty’ ways than any collection agency you’ll ever deal with.

So what if you just can’t come up with the money? If you just don’t have the money, and you cannot get it, there are legal ways to negotiate with the IRS: Be declared Non-Collectible Status.

Have the debt reduced through an Offer-In-Compromise. Set up a monthly installment agreement plan. Set up... ...read full post

If the IRS places a claim on your property as a tax lien, it shows up on your credit report and can greatly damage your credit score Florida IRS Tax Attorney Mary E. King advises.

The worst part is that you may not even be aware of the tax lien until you go apply for a credit card, car loan, home equity loan or to refinance. By that point lenders are hesitant to loan you any money.

Plus, an IRS tax lien may make it very difficult to sell your house. A buyer will be reluctant to buy since the IRS lien comes with the property and becomes his problem if you don’t take care of it Attorney King adds.

If you receive a “Notice & Demand of Payment” from the IRS and you don’t pay the tax bill, you have 10 days before the IRS can begin the process of placing a lien on your property.

If you don’t respond to the “Notice & Demand of Payment”, the countdown to a lien begins. You must act quickly. Realize this - a lien is just the beginning before even nastier IRS tactics begin, like wage garnishment and property seizure.

Your IRS tax troubles may have just begun if you’ve received a “Notice & Demand of Payment.” Attorney Mary E.... ...read full post

How much money do you need every week to survive?

… if you owe unpaid taxes to the IRS and they garnish your paycheck to get their money, I hope your answer to that question is “not much”…

Are you single with 2 kids (exemptions)? I hope you can live on $299.04* per week…because that’s all the IRS is going to leave in your paycheck if they garnish your wages! No kids (exemptions) to claim? The IRS will leave a whopping $168.27* in your weekly paycheck…and take the rest.

See IRS Publication 1494, Table of Figuring Amount Exempt from Levy on Wages, Salary and Other Income (Forms 668?W(c)(DO) and 668?W(c)), to determine the amount of earned income exempt from levy. I could go on and on, but I think you see my point. The IRS has already conveniently “pre-decided” how much money they will leave in your paycheck…they have a nifty little table that conveniently tells you how much you get to keep. Of course, this doesn’t take into consideration the least bit how much you need every week to pay your mortgage, your car payment, groceries or any of life’s other necessities. They’ve already figured how much they’re going to leave you and it’s up to you to figure out how to live on it.

Sound Like a Recipe for Financial Disaster? You Bet. I look at these numbers and I’m just blown away.... ...read full post

Are You Non-Collectible To The IRS?

One way to get out of IRS debt is to be declared “Currently Non-Collectible” (CNC) by the IRS. Note the term “Currently”…As the name implies, Currently Non-Collectible means that the IRS considers that your current financial situation makes it impossible for you to pay your taxes and they determine that they cannot collect the money from you…at least not for now.

So, in other words, being declared CNC is a potential short-term fix to your IRS problem. But, in the end, you may still have to pay the taxes you owe (plus penalties and interest) once you start making more money.
The interesting thing about being declared Currently Non-Collectible is that can last indefinitely. If the IRS monitors your future W-2’s and sees that your income has not increased by 15%-20%, your Non-Collectible Status stays “current”.

The IRS usually gives you some breathing room and reevaluates your situation after 12-18 months. If by that time you’re showing positive cash flow, you may be put on a payment plan.
However, if you are declared CNC, it doesn’t get you off the hook for paying your taxes in future years. In other words, if you’re declared to be Currently Non-Collectible for the taxes due for years 2005-2007, you will still owe the taxes due for the years 2008, 2009 and... ...read full post

Renting out Your Spare Room to Cover Your Bills May NOT be the Answer!

The current housing crisis means that many homeowners are considering renting their properties as an alternative to selling, or even renting out spare rooms to help meet their mortgage payments. But homeowners desperate for additional income in these tough economic times may find themselves in trouble with the Internal Revenue Service (IRS) when it comes to renting property.

Leasing one’s home (or a portion of it) to meet mortgage obligations can lead to disaster with the Internal Revenue Service (IRS) if any money collected as rent is not reported as income.

The IRS has a series of guidelines that have to be met when it comes to paying taxes on rental income and failing to properly report them. This can lead to complications that include fines, interest, and possible garnishment of wages to collect the unpaid taxes.

Anyone who rents or leases property for more than 14 days is subject to paying taxes to the IRS. Add to the equation the fact that there are different rules on IRS tax liability based on how the property is rented and it becomes obvious that homeowners should seek the advice of an expert to prevent trouble with the IRS.

Obviously, in some cases renting property can result in... ...read full post

Wage Garnishment Can Be Minimized

Taxpayers beware: The Internal Revenue Service (IRS) will claim any back taxes and fines they determine are due to the agency. Sarasota Florida tax attorney, Mary E. King, warns that the IRS will not hesitate to take money from a taxpayer’s paycheck if they determine that they are due money.

Wage garnishments imposed by the IRS can total up to 25 percent of a taxpayer’s earnings for each pay period. In today’s struggling economy, the loss of a quarter of a wage-earner’s salary can have a devastating impact on their budget.

Because tax fines tend to snowball, a taxpayer may end up paying more than they anticipated. The impact that those fines can have on wages garnished from their paychecks can be monumental, which is why contacting a tax attorney early is so important. Using a knowledgeable source will not only help prepare a taxpayer for the pain of wage garnishment, but can also work to make sure that the taxpayer only pays the minimum amount that he has to.

The average taxpayers is unfamiliar with the labyrinth of tax laws that allows the IRS to garnish a maximum when it comes to an employee’s earnings. That’s why it is essential to retain the services of a professional tax attorney who is equally educated about tax laws.

Mary can help in... ...read full post

Very few people look at the calendar with wide eyed anticipation of that wonderful day when they must submit all their financial paperwork for the year. As a matter of fact, staring at that particular deadline is responsible for a considerable amount of avoidable stress and unhappiness in the general population. This is probably when to hire a tax attorney if you have need of one's services.

It can be very confusing and frustrating. There are so many boxes to check and spaces to fill out that it can be overwhelming for many people. Scrabbling through shoe boxes full of receipts and invoices, digging through filing cabinets stuffed haphazardly with uncollated paperwork, and trying to keep everything organized on the desk is more than most people are willing to do, legal requirement or not.

Things can get even more delicate and confusing when the federal revenue service gets involved. The Internal Revenue Service in the United States of America is viewed with suspicion and a degree of hatred by many people who have had direct dealings with them. While this opinion may not be one hundred percent warranted, it exists and is so entrenched in the culture that it is the frequent subject of comedy material.

There seem to be many reasons why the IRS would want to audit someone. This may be the seed of the confusion and fear that the average... ...read full post

Attorneys or lawyers are among the people who take responsibility in maintaining harmony in the community. They are the ones who take the initiative to let things sail on smoothly. They are expert in managing the court cases filed against their clients. Whatever type of criminal or civil case that the client gets involved in, it is the duty of the attorney to defend him or her.

The tax law draws clearly the government levies which are placed on every economic transaction. They are hence known as taxes. In truth, the tax law is among the sub-disciplines and areas to be concentrated on by the students in the law schools. Florida tax attorneys are certainly the people who have taken the thorough analysis of the tax law.

The tax law nonetheless covers a lot of areas. Among them are the sales tax, income tax, property tax, excise tax, inheritance tax, as well as the corporate tax. Since the tax law is very much emphasized in Florida, it is not to be doubted that the Florida tax attorneys are always in demand. It adds more to their popularity that they are able to play the very crucial consultative roles in the legal aspect.

The Florida tax attorneys are usually the products of the best law schools in the United States of America. Their license certificates are derived from the Florida Board of Legal Specialization. As budding Florida... ...read full post

I find that most people who don’t deal with their IRS problems until something ugly happens (like tax liens, seizure of property, bank accounts and other devastating IRS extreme measures) have one thing in common…

They’re afraid…afraid that if they approach the IRS to resolve their problem:

-That they’ll go to jail

-That they won’t have the money to pay the IRS

-That the IRS will put them on a payment plan that they can’t afford

-That the IRS will cause them to go bankrupt

This list could go on and on, but you get the point. In other words, people drum up all sorts of ideas about what will happen to them if they DO approach the IRS to fix their problems…and most of the time their fear is based on something that they’ve concocted in their head. In fact, quite the opposite is true. The IRS does do all sorts of nasty things to people who do NOT take action. That’s what all of the extreme measures are for…things like wage garnishment, bank seizures, tax liens, and other things that can completely destroy your financial life…

But these are the things that are reserved for people who do NOT take action – not for those who DO. Realize that the consequences for taking action are infinitely better than not taking action. It’s your fear that has been misleading you this whole time, sending your mind into overdrive, saying “what if?...what... ...read full post