There are many reasons taxpayers do not file and/or pay their taxes. The important thing to remember is that filing your delinquent Federal Income Tax returns is the first step to solving your IRS Tax Problem!
Many times a taxpayer may owe much more federal back taxes than they can pay. The first step in resolving this problem is to contact experienced tax attorney Mary E. King. Attorney Mary King will determine the best solution for your individual case.
IRS tax help can be achieved by several methods including but not limited to:
- Offer in Compromise
- Penalty Abatement
- Innocent Spouse Relief
- Currently not collectible status
- Installment agreement
- Statute of Limitations
As a taxpayer not familiar with the ins and outs of federal tax laws you should not attempt to negotiate directly with the IRS. It is essential you retain the services of a qualified tax attorney such as tax attorney Mary E. King to negotiate on your behalf. Mary has successfully negotiated for her clients which means her clients have not needed to directly communicate with the IRS.
Yes. The IRS can take money from your bank account, IRA’s and cash value of your life insurance policy. The IRS refers to the action of taking money from a taxpayers bank account as a levy. Not only banks but credit unions, trust companies, and labor credit unions all must comply with an IRS levy.
A tax levy is the worst case for any taxpayer and many times may be able to be avoided by contacting tax attorney Mary King before it is too late. Procrastinating with the IRS is the worst mistake. Don’t wait, contact the Law Office of Mary King P.L. and find out your options.
In some cases the IRS will reduce or eliminate a taxpayer’s penalties on their debt, through a process called penalty abatement.
The taxpayer must be able to prove “reasonable cause” before the IRS will agree to a penalty abatement. Reasonable cause means regardless of the taxpayer’s “exercise of ordinary care and prudence,” he or she is unable to file his tax return or pay his taxes on a timely basis. Usually the success of penalty abatement depends on the taxpayer’s past history of filing their tax returns and paying their taxes.
The federal tax laws are very complex and only an experienced tax attorney can successfully build a case for penalty abatement.
In today’s economy it is very easy for a business with many operating expenses and reduced sales to be forced to dip into the payroll tax account to keep the doors open and lights on. Payroll deductions are funds that are withheld in trust for the US government and frequently called trust fund taxes.
Failure to collect and submit this money means you have committed a trust fund violation against the federal government and that can mean big trouble. The federal government takes these kind of violations very seriously and responds harshly to the liable business owner.
Actions available to the government include locking your businesses doors and selling everything! Worse still, if the sale of your businesses assets do not cover the amount owed, you as the business owner are still liable.
In some cases bankruptcy protection can help protect taxpayers from back IRS tax debt. But the rules to determining who qualifies and who does not are very complex. Many factors determine if a bankruptcy can protect the taxpayer from past debt including the types of bankruptcy, how old the tax debt is, a taxpayers past tax compliance history, any previous bankruptcies and many more.
Married partners who have filed jointly and have a tax debt dispute may qualify for innocent spouse relief. As with any IRS tax law there are many factors are involved, if you feel you are unfairly responsible for your spouse’s tax liabilities contact attorney Mary King and schedule a consultation.