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Tax Attorney Mary King Resolves Serious IRS Tax Problems

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Tax Solutions

IRS Filing Tax Scams And How To Report Them

These days, it is very easy to get scammed. There are even people who scam others by claiming to work for the Internal Revenue Service. Below are some examples of common IRS scams:

Internal Revenue Service Impersonation Telephone Call

Many people have been targeted by scammers who make sophisticated and aggressive phone calls. These people say that they are employed by the IRS, but they do not work for the company. They use fake IRS identification numbers and names. These people can even change their telephone number in order to make it look like the call is coming from the Internal Revenue Service.

The victims are told that they owe the IRS money, and they have to pay it right away using a wire transfer or debit card. The scammers threaten to arrest or deport people who refuse to cooperate. They also try to get people to give away their private information by promising them a refund.

If someone does not answer the phone, then they will be told that they have to call back urgently. Keep in mind that the Internal Revenue Service will never call you and demand that you immediately make a payment. They will not require you to make a payment without appealing or questing the amount you owe. The Internal Revenue Service will not require you to use a specific method to pay your taxes or ask for your credit or debit card information over the phone. Additionally, the Internal Revenue Service will not call you and threaten to... full post

posted by Mary E. King , in:
Tax Solutions

IRS Levy Help - Stop The IRS From Raiding Your Accounts

If you do not file or pay your taxes, then the Internal Revenue Service has the right to seize your property, including your house, car or boat. They could also play a levy on your bank account and wages. If you have a state tax refund, then the Internal Revenue Service can place a levy on it also. Additionally, if you have a retirement account or rental income, then a levy could be placed on those things.

However, it is important to note that the Internal Revenue Service may release a levy if you are having financial difficulty. You must be able to prove that seizing your property and/or garnishing your wages will make it difficult for you to pay for your basic living expenses.

There are steps that the Internal Revenue Service must take before they place a levy on your property.

They are required by law to send you a notice demanding your payment. They are also required to send you a notice of intent to levy. Additionally, the Internal Revenue Service is required to send you a notice of your right to a hearing.

The final notice has to be sent at least 30 days before the Internal Revenue Service issues the levy. You may receive this notice at your place of business or home. You may also get a letter sent to your last known address.

The good news is that you do not have to deal with an IRS levy on your own. Our attorney can help... full post

Taxpayers With IRS Tax Liens Should Expect Financial Complications That Only Get Worse With Time

Having an existing tax lien is one of the most distressing situations that a taxpayer can face. A tax lien is a hold on one’s personal property that the I.R.S. places to ensure that it receives a payment that a person owes. The I.R.S may issue a tax lien for a wide variety of reasons. One reason a person may have tax lien against him or her is a failure to file income taxes or pay income taxes. Income taxes for the previous year are supposed to be filed by April 15 of the following year. A taxpayer who misses the deadline and does not request an extension is at risk for a tax lien.

Other Reasons a Tax Lien May Apply

Another reason that a taxpayer may receive a tax lien is if he or she fails to pay property taxes on a home or personal property. Most property taxes are payable once per year, although policies may differ in different states. A tax lien does not necessarily mean that the I.R.S. is going to take possession of the property. However, it may implement a tax levy if the taxpayer does nothing to resolve the situation.

How to Resolve a Tax Issue

A taxpayer has several options when he or she first receives notice of delinquent taxes. The I.R.S. is very good at sending out notices. A tax lien never occurs before a person has had... full post

The Taxpayer Bill Of Rights

Many taxpayers are under the assumption that there is little they can do if they have a disagreement with the IRS. The good news is that this is simply not true. While all taxpayers have the expectation to pay the tax they owe in a timely fashion, those taxpayers also have legal rights in all of their dealings with the IRS. This is commonly called the Taxpayer Bill of Rights, and it is clearly outlined by the IRS. All taxpayers have the right to a fair and just tax system and quality service from the IRS.

The Right to Be Informed

All taxpayers have the right to be fully informed about tax law in a way that is easy for them to understand. They also have the right to be kept fully informed about tax decisions made by the IRS that affect them. This includes such things how much tax is owed and why, and the reasons why any penalties or fees are being requested. This means especially that the IRS cannot take an action without giving the taxpayer due notice of what they intend to do and why.

The Right to Pay No More than the Correct Amount of Tax

While a taxpayer has the obligation to pay taxes legally owed, they do not have to pay more than their share of tax. This means that tax charges, including penalties and interest must be accurate. It also ... full post

posted by Mary E. King , in:
Tax Solutions

Is The Offshore Disclose Program Still Available?

The IRS had one goal when it announced the Fresh Start Program in February 2011. The goal was to make the process of paying for penalties easier for individuals. Over time, the program has been expended, but the goals are still the same.

What Is The Fresh Start Program

The program combines payment installments, lien releases, penalty assistance, and a program called Offer in Compromise so that taxpayers can settle their tax debts at a cost that is lower than they owe.

How The Program Waives Tax Penalties

In the past, when individuals missed the deadline in April, they received immediate penalties and interest charges. However, unemployed taxpayers who qualify for the Fresh Start Program can have their penalties waived for several months.

The extension option is available to people who were jobless for 30 consecutive days in 2012. Self-employed taxpayers must prove that their businesses decreased by 25 percent in 2012 so that they can qualify.

People who earned over $100,000 annually and couples who earned over $200,00 annually do not qualify for an extension. In addition, individuals who had a tax balance that was higher than $50,000 in 2012 also do not qualify.

The program’s purpose is to help taxpayers who are struggling because of ongoing financial problems. It give unemployed taxpayers an exemption from a penalty. Under the first slice of the program, taxpayers got a reprieve from tax penalties that... full post

Three Ways To Stop An IRS Levy

Audit, lien and levy are three terms used by the Internal Revenue Service (IRS) that strike fear in the hearts of American taxpayers. Tax audits are methodical inspections and reviews of taxpayer records, liens are legal actions that can be attached to property for the purpose of collecting during future transactions, and levies are actual seizures of income and assets for the purpose of settling or adjudicating tax debts.

An IRS levy can be placed on individuals or businesses. Levies are the final step of a process that typically begins with an audit or an investigation that determines that taxes should be paid. A formal IRS document titled Notice and Demand for Payment would follow; should this ultimatum go ignored, the IRS would send the taxpayer a Final Notice of Intent to Levy and Notice of Your Right to a Hearing before physically taking funds or property.

Prevention is arguably the best defense against an IRS levy, but this is not always possible for all taxpayers. Once the IRS issues a Notice and Demand for Payment, there is a very strong chance that lien or levy action will follow unless the taxpayer has adequate and proactive legal representation. This means retaining a law firm whose attorneys are admitted to practice in federal tax court, and who are also experienced in removing IRS liens and levies. Many lawyers and Certified Public Accountants who offer lien and levy release services are not actually admitted to practice in U.S. Tax Court; thus, their services are... full post

Preparing For A Meeting With A Tax Attorney Can Help Speed The Process Of Stopping The IRS Collections

One of the most unsettling experiences for a person is finding themselves dealing with tax issues and the Internal Revenue Service. The reality is that when a person is confronted with a tax problem and having to face the IRS, he or she does not have to go it alone. Rather, there are some qualified, experienced, hands-on attorneys who are well versed in dealing with the IRS and in defending hard working taxpayers.

n looking for the most suitable tax attorney, a person needs to not only focus on a professional with experience but a lawyer that is authorized to practice before the U.S. Tax Court. Once an attorney has been selected to represent a taxpayer, there are a number of steps that need to be taken in preparation for meeting with a the tax lawyer.

Organized Supporting Documentation

A key step in preparing to meet with a tax lawyer is pulling together all of the documentation relating to the tax matters at issue. In the final analysis, if a person wonders whether certain documents are relevant, it is best to include them in the paperwork to present to an attorney. The lawyer is in the best position to determine what documentation is important to the case.

Make sure that any written communications with the IRS are pulled together for the lawyer. Odds are a taxpayer has received what might amount to a great deal of written... full post

How To Get A Tax Lien Removed

A tax lien can be a burden. If you have a tax lien, then you may have problems selling your property or getting credit. The good news is that tax liens can be removed. Below are some of the steps that you will have to take to remove IRS tax lien:

Determine If You Qualify

You will need to determine if you qualify to have your tax lien removed. If your lien has been released because you have already paid what you owe, then you may be able to get it removed. However, even if you have not paid your entire tax debt, you may still be able to get it removed. If you owe $25,000 or less and have agreed to a direct debt installment, then you may be able to get the tax lien removed.

A direct debit installment is where the payments are automatically drafted from your account. There are other requirements that need to be met, such as successfully making three payments and not defaulting on another installment agreement.

You may also be able to remove IRS tax lien if you have filed your business and individual tax returns for the past three years. Additionally, if you are current on your federal tax deposits and estimated tax payments, then you may be able to get the tax lien removed.

Send An Application To Get The Lien Removed

If you believe that you qualify,... full post

IRS Filing Problems And Solutions From An Experienced Florida Tax Attorney - 3rd Installment.

I cannot afford to pay my taxes and an extension will not help!

Ok so after preparing your return, and double checking you have been able to claim all legal deductions you find that the amount you owe is so large that even a payment extension will not allow you enough time to pay the amount. Not a pleasant situation to be in, but you certainly are not the only one to be there.

Many in this situation may put of actually filing the return because they feel there is no possible way they can deal with the tax burden they owe. As a consequence they make the situation worse by delaying any proactive action and accumulating additional interest and penalties. Or they chose the to file, and fail to pay anything because they cannot pay the full amount. In time the IRS begins collection activities including harassing phone calls, letters which can lead to a slew of problems including liens on your property, bank account levies and wage garnishment.

Fortunately again there is a way to resolve this situation without getting into further trouble with the IRS, and it has a name – the Installment Agreement.

The Installment Agreement allows a taxpayer to pay the amount they owe over time with a predetermined monthly payment or Installment. Of course the IRS always prefers to get their money as fast as possible and as such IRS agents can be less than forthcoming about programs such as the installment agreement. Also the IRS does not... full post

IRS Filing Problems And Solutions From An Experienced Florida Tax Attorney - 2nd Installment.

For the second installment in the series we will be addressing another common issue that can cause taxpayers to get themselves into trouble with the IRS.

Being Afraid Of An Audit.

Problems from fear of being audited usually result in two things; either the taxpayer is afraid of being audited so they over pay on taxes they do not actually owe or worse, they are paralysed and rather than risk being audited they put off filing until it becomes a real problem to deal with.

Both problems have costly consequences, but they also both have the same solution:

Make your returns audit-proof.

This may sound like perhaps not taking all of the tax exemptions you may qualify to better “fly under the radar” but that is not the case.

While you certainly should not be accepting tax deductions that are false, legal tax deductions will save you quite a bit of money and not accepting them is no guarantee that you will not be audited anyway.

The other reaction of fear of an audit is often freezing up and putting off even filing your returns, will create far worse problems. If you are concerned that your taxes may be too high, or that you do not have all of the records to back up your claims, a better course of action is to file for an extension and then seek the help of a tax professional to straighten out your return. However if later becomes never then your IRS problems will be far worse than... full post

IRS Filing Problems And Solutions From An Experienced Florida Tax Attorney - 1st Installment.

As we closer to tax time in early 2014, many people will be the stress associated with filing federal tax returns. Anytime you have to divulge information to the IRS a certain amount of stress is understandable! However for some, it can be paralyzing and rather than dealing the problems or hiring a professional to help they put it off to another day. We will be posting a series of solutions to common IRS problems that we hope will be helpful for some, beginning with problems filing federal tax returns for individuals and businesses.

Common problems for those filing annual tax returns:

I cannot pay the amount I owe by April 15th

On the surface st least this is one of the most difficult problems to deal with but there are solutions. Delaying with this problem will make it worse as interest and penalties may accumulate and make the situation worse as time goes on and if the fees and compound interest go on too long it can really become out of control. You are not alone in this as on average the IRS will assess more 13 million penalties to taxpayers who are late.

Often the best way to avoid this situation is to attempt to get an extension on the amount of time they will allow you to pay the federal taxes owned. This sounds similar to the typical “getting an extension” but to be clear we are talking about the time to pay off the debt not the more... full post

Best Resolution To Keep - Resolve Your Tax Debts In 2014

Having a tax debt hanging over your head is one of the worst feelings in the world. The IRS expects their money, and if they don’t get it, they will haunt you for a long time to come. However if you do have tax debt problems there are many options to get them under control and resolve your issues with the IRS.

Get back on track by knowing where to look for help.

Hire an experienced IRS Relief attorney-

A law firm with experience in helping clients reduce IRS debts and negotiate manageable settlements will help in the process of contacting the IRS with information regarding your account. A tax attorney will negotiate on your behalf  to get the government to drop penalties and fees that were assessed as part of the money owed to the IRS. The penalties can be extremely high. Once they are removed, it will make dealing with the original debt a lot easier. They can also direct you as to whether or not filing for bankruptcy against the IRS debt will be a viable option. In short, the company can help in all aspects of dealing with the IRS.

IRS debt reduction programs

Offer in Compromise- The offer in compromise or OIC is one such program. Often, with the help of a qualified attorney, the IRS may be willing to work with taxpayers in order to come to a reasonable solution to the... full post

Stop Penalties And Interest By Getting Delinquent Tax Returns Filed

If you've failed to file income tax returns for prior years, you've undoubtedly been receiving notices from the IRS that show the taxes you owe, as well as compounding interest and penalties. It may seem like an impossible task to manage, but by following a few simple steps, you can stop the penalties and interest from continuing to add up. It is important to act as quickly as possible, as those fines and fees are added to on a daily basis.

The first thing you should do is consult with a tax attorney or a certified tax resolution specialist to review your situation. Be honest about how many years you are delinquent, and be sure to take along copies of any letters you have received from the IRS. An attorney or tax specialist will be able to help you devise a plan of attack to bring your tax debt under control.

In order to stop the penalties and interest from continuing, you'll need to complete the following steps:

- Figure out when your last tax return was filed.
-Gather forms and documentation for each year that you need to file.
-Prepare and mail each return.
-Devise a repayment plan with the IRS.

Each year's return will need to be completed separately, and you'll need to account for any changes to your tax status or dependents.

Preparing Your Delinquent Returns
Once you've established which years you need to file, you'll need to gather the correct tax forms and supporting documentation. This includes W-2s, 1099s, mortgage statements and receipts for deductible... full post

Unpaid Back Tax Debts Can Spiral Out Of Control - Experienced Tax Attorneys Offer Solutions

Back taxes if left unpaid for years can build up thousands in penalties and interest. Sometimes this amount can become so large a taxpayer's only option is to retain an attorney with an expert knowledge of administrative tax law and various IRS codes.

Although a back taxes attorney has the power to prepare tax returns for you, they have the ability to do more than your average tax accountant can do. This is especially the case if you have various financial planning and estate planning problems that could potentially cause many tax consequences that are hard to deal with. Back taxes attorneys have been accepted by the state bar association and have obtained the proper training at a law school. By using their knowledge of law and tax codes, they can help you pay the smallest amount of taxes possible.

If you do not pay the amount of taxes that you owe, the IRS has the power to take your wages in order to get back the money that is owed to them. However, this might hurt your financial situation even more. This is when a back taxes attorney is required. When you already owe taxes to the IRS and you file late, you will need help from an attorney in order to properly deal with the late filing penalty, the amount of money that you owe and the amount of interest that the IRS charges. In addition, if you do not file a return, there is a high chance that the... full post

Now That The IRS Is Back They Will Be Playing Hardball - You Need A Tough Attorney To Represent Your Interests

IRS Collections AgentWhen you experience a tax audit or other tax-related issue, don't fool around with CPAs or scam artists like JK Harris. Work with a lawyer who is qualified to represent your needs in U.S. Tax Court. Not all law firms have the ability to provide you with a lawyer who can represent you, and many law firms simply fill out paperwork. By working with a lawyer who is able to represent your needs at any time, you can be assured that your interests will be protected in the event that it is necessary to go to court.

Being able to work with the IRS on complicated tax issues is an advantage that a bank levy attorney can provide to you. This ensures that negotiations with the IRS actually take place. Some firms merely accept the first offer made by the IRS to settle your tax issues, and this should not be the case. Negotiation can enable you to save thousands of dollars in the amount that you have to pay to the IRS. It may be necessary for the attorney to respond to audit letters from the IRS and handle other letters from the IRS on your behalf. Hiring a lawyer who can work with the IRS ensures that your issues are also handled in a timely manner. They will not simply go on the back burner.

A... full post

Tax Problems? Only An Attorney Can Offer The Attorney-Client Privilege

US Tax CourtNo matter what your IRS tax issues are, always choose an attorney over a CPA or other professional.  If you have sought help from another professional they could be made to testify against you. Further tax laws can and usually do change, and it takes experience to understand how to successfully negotiate with the IRS collections agents.

When IRS problems come knocking at your door, you need an attorney who will think through personalized solutions to your issues. Each person's tax situation is a little bit different, and the answers to these problems will be different as a result. An IRS levy can be both scary and debilitating whether you are an individual or someone who is trying to make it in business. It's important to get on board with a lawyer who understands all of the challenges that you face, as this will give you the best chance of staving off an IRS levy or some other form of aggressive IRS action.

Representing client interests in tax court
As a person facing an IRS levy, you should know how the process may play out. Though you might be able to resolve your debt or reduce the obligation without going to court, there is a good chance that you'll be required to fight it out in front of a judge. The average tax firm is not qualified... full post

The Offshore Voluntary Disclosure Program Is Still Open, However The IRS Could Cancel It Any Time

If you have any offshore or international accounts or income with banks or other financial institutions and to date have not yet reported them to the IRS for fear of being prosecuted, then the voluntary disclosure program will give you the opportunity to be compliant without criminal tax evasion implications.

The current program is similar to the 2011 Offshore Voluntary Disclosure Initiative (OVDI) but does have some key differences. The penalty structure of the current program is nearly the same as the OVID program with the exception for those who fall into the highest penalty category.

The biggest difference is that unlike OVID there is not a set deadline. That's both good and bad – while there is no set deadline it also means the IRS can choose to cancel at any time.

The new program the penalty for the highest aggregate balance in foreign bank accounts/entities or value of foreign assets during the eight full tax years prior to the disclosure has risen a steep 25% higher from the previous penalty in the 2011 OVID program to 27.5%. Other penalties may be less though and some taxpayers may only be faced with a 12.5% or even a 5% penalty depending on the individuals situation.

While helpful and a great opportunity, the IRS is not making it easy and taxpayers who want to come clean should hire an attorney to guide them through the process to costly mistakes. All original and amended returns must filed and the returns must include the... full post

When Tax Debts Become Overwhelming Get Help From An Attorney

High tax debts get helpA well-known statesman once wrote that, ‘taxes are the price we pay for a civilized society.’

To some degree this is true. The taxes that we pay every year allow us to live in a country where, for the most part, we have good roads, running water, and a maintained infrastructure. Taxes are also used to build and maintain public schools. These public schools are the basis for the education that our children receive. Our taxes are also used to help in times of emergency and to fund the military that defends the United States of America. Every single taxpaying American understands the benefits that come from paying their taxes.

However, this does not make paying taxes at the end of the year easier.

In wake of the recent IRS scandals paying a large sum out is particularly unpleasant.  It becomes especially difficult if you are hit with a large amount of taxes all at once and you do not have the money necessary to pay these taxes.

Unfortunately, the IRS has never been known to be a lenient or a caring governmental department. To the contrary, when it comes to collecting money, the IRS is extremely strict and demanding.

Dealing with the IRS can be extremely unnerving. Since the IRS has the ability to levy bank accounts, assets and even wages. The IRS can have charges... full post

The IRS Appeals Programs Are Complicated - Get An Experienced Attorney For Help

help for tax problemsA common question among taxpayers experiencing problems with the IRS is:
how do I appeal my tax assessment?

One of the options that should come to mind first is hiring an experienced tax resolution attorney to help you understand the process and represent you in front of the IRS. Unfortunately too often people believe that a tax attorney would be too expensive for them, or they might also have the misconception that attorneys have a bad reputation and are only interested in their clients' money. This explains why some taxpayers choose to hire a CPA or an enrolled agent to prepare their IRS appeals, however ONLY a qualified attorney has the attorney client privilege meaning, should you choose a CPA or other financial professional to help you, the IRS could force them to testify or divulge damaging information about your case. Further a bar member attorney will have years of experience in dealing with the IRS including legal matters that may require going to US tax court. Tax attorneys will have knowledge of negotiating with IRS collections officers and the latest information on tax resolution programs available from the Internal. Revenue Service.

If you are thinking of appealing your tax assessment, you should be aware that the appeals programs have undergone a few changes lately. This is especially the true with Trust Fund... full post

How To Survive An IRS Wage Garnishment

Survive Wage GarnishmentGetting hit with an IRS wage garnishment is a tough situation to go through. Having money subtracted directly from your paycheck can make your debt situation even worse. Once you fall behind, it is hard to catch back up. Fortunately, you are not the only who is dealing with this tough situation. You should start by contacting an experienced attorney when seeking help for wage garnishment.

The IRS cannot take any money from your paychecks until the court rules against you. Once the government starts garnishing your paychecks, the money goes directly to a creditor or plaintiff. Some of the most common reasons for wage garnishment include back child support, unpaid taxes, overdue court fines and credit card debt. Even defaulting on your students can result in wage garnishments.

According to federal law, the government can garnish your paychecks by up to 25 percent at a time. With that said, the garnishment laws vary from state to state. For example, states like North Carolina, South Carolina, Texas and Pennsylvania do not allow wage garnishment. Even though the IRS can garnish wages in other states, the laws vary on the amount.

The IRS has several steps they must follow before they can garnish your paychecks. For instance, they must start by serving you a notice and demand for payment. In addition, the IRS also needs to send you... full post

Installment Agreements Are An Effective Way To Deal With Tax Debt

pay irs debt over timeOwing the IRS back taxes is a scary situation, considering the power the IRS has to garnish your wages and place liens against your property in order to satisfy the debt. However, they generally are willing to work with you to create a payment plan that you can afford. In fact, entering into an installment agreement is an effective way of dealing with your tax debt that eliminates the possibility of the IRS ramping up collection efforts against you.

In order the enter into a payment plan agreement, you will need to contact the IRS to make the arrangements. It is best if you do this through a qualified attorney, rather than trying to negotiate with the IRS on your own. Make sure the attorney you select has experience in dealing with tax debts and the IRS, and that they are authorized to represent you in US court. Ideally your case will not need to go before a judge, but you do not want to have to change attorneys if the need arises.

Your attorney will review your case and determine if there are any elements of your unpaid taxes that can be challenged. He or she will also review your budget and help you determine how much you can afford to pay each month toward your back taxes. They will handle the negotiations with the IRS... full post

posted by Mary E. King , in:
Tax Solutions

Get Rid Of IRS Penalties

IRS PenaltiesIf you owe money to the IRS, chances are that you will end up paying more than just the amount of back taxes that you were assessed for. IRS penalties and interest charges can add a considerable amount to your debt. Penalties and interest charges together usually reach about 2% per month. Over a year, this means you will pay roughly 24% more money. You should also be aware of how the IRS processes payments and refunds for those who have tax debt. Any credit will be applied to penalties and interest first, before reducing the original amount of the debt.

Those who have chosen to take an installment agreement with the IRS, allowing them to pay their back taxes over a period of time will end up paying a large sum just to cover the interest and penalties. But there are a few ways around this situation:

You can opt to get a loan to pay off the IRS. Even if you have a poor credit history, most banks will charge you less interest than what the IRS does. If you are unable to get a loan from a bank, you may consider borrowing from friends, business associates or family members. Another good thing about paying off your back taxes completely is that any refunds you get in the future would be sent to you, rather than being... full post

Identity Theft And How To Prevent Identity Theft

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... full post

Help! I Have A Tax Lien On My Property!

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... full post

Tax Attorneys Guide Individuals Through A Variety Of Legal Challenges And Professional Planning

IRS Taxation Lawyers Help You Through The Maze Of Tax LawsAn 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. full post

Break Free From The IRS - Tax Relief Assistance

Break Free From The IRSThe 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... full post

What?! The IRS Can Seize Your Funds From Your IRA Account!

Oh No! The IRS Has Raided Our IRAIn 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... full post

12 Areas That The IRS Might Raise Your Chances Of Being Audited

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... full post

Stopping An IRS Tax Lien

Stop IRS Tax LiensIRS 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... full post

What Is An IRS Levy?

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... full post

Lawyer Vs. Accountant: Tax Attorneys For IRS Tax Problems

tax lawyer vs accountantAt 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... full post

Dealing With IRS Levies

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... full post

Protecting What You Have Earned

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... full post

Reducing An IRS Tax Lien With The Right Attorney By Your Side

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... full post

Offer In Compromise - Options For Settling Tax Debt

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... full post

What Do R. Kelly, Lauryn Hill, And The Osbournes Have In Common? - Tax Problems!

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... full post

IRS Tax Liens - How To Release Them

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... full post

Wage Garnishment - How To Stop The IRS

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... full post

Why Should You Hire A Tax Attorney?

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... full post

Delinquent Taxes - Get Help From An Experienced Tax Attorney

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... full post

IRS Tax Lawyers Solve Your Tax Problems

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... full post

Florida Business Payroll Tax Problems Hire A Local Tax Lawyer

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... full post

Reasons To Hire A Tax Attorney And Not A CPA For IRS Problems

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... full post

Offer In Compromise - Is Pennies On The Dollar For Real?

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... full post

Foreclosure And The IRS

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.

... full post

Florida Tax Attorney Mary King Can Help Call Her Today

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... full post

Tips On Finding A Florida Tax Attorney

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... full post

Locating The Most Trusted Attorney In Florida Mary King

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... full post

How To Invest In Tax Lien Properties In Florida Ask Your Tax Attorney

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... full post

Tips On Finding The Best Tax Attorney In Florida Today

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... full post

Florida Tax Attorney Mary King Will Help You Get Over Your Fear Of The IRS

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 ... full post

Mary King Can Help You File Innocent Spouce Relief In Florida

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... full post

Why Should You Hire A Tax Law Attorney?

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... full post

Hire A Business Tax Attorney

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... full post

Check The Details When Preparing Taxes

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... full post

Can You Really Pay The IRS Pennies On The Dollar?

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... full post

Prepare For Back Taxes By Using An Expert

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... full post

The #1 Fear About The IRS That's Not True

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 InaccuratelyNot 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... full post

New Offer In Compromise Tax Reduction Settlement Program

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... full post

Sarasota, Florida Tax Attorney: Keeping Tax Records The Right Way

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... full post

How Much In IRS Penalties Are You Paying?

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... full post

Checking Your Credit Score Can Alert You To IRS Problems

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.... full post

Whats The Minimum You Can Live On?

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.... full post

Are You Non Collectible To The IRS?

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... full post

Renting Your Spare Room May NOT Be The Answer!

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... full post

Wage Garnishment Can Be Minimized In Dealing With IRS

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... full post

When To Hire A Tax Attorney

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... full post

The Best Florida Tax Attorney For You Is Mary King

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... full post

Here’s How To Get Your Life Back From The IRS

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... full post

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Tax Solutions

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