#notice of federal tax lien

[loudtravelerlight]

Navigating IRS Challenges: Your Guide to Tax Relief and Assistance

Navigating the complexities of the U.S. tax system can be overwhelming, particularly when you find yourself facing challenges with the Internal Revenue Service (IRS). Whether it's an audit notice, back taxes, or a tax lien, understanding your options for tax relief and assistance is crucial. This guide will help you explore the various resources available to you, ensuring that you are well-equipped to handle any IRS-related issues with confidence.

Understanding Your IRS Obligations

The IRS is responsible for enforcing tax laws and collecting taxes owed to the federal government. Every taxpayer has obligations that must be met, including filing accurate tax returns on time and paying any taxes due. Failure to comply with these obligations can lead to penalties, interest, and potentially severe legal consequences.

Key Responsibilities:

Filing Tax Returns: Individuals and businesses must file annual tax returns to report income, deductions, and credits.

Paying Taxes: Taxes owed must be paid by the designated deadlines to avoid penalties.

Record Keeping: Maintaining accurate financial records is essential for substantiating your tax filings.

Common IRS Challenges

While most taxpayers aim to comply with their tax obligations, various challenges can arise, leading to IRS action. Some common issues include:

Back Taxes: Unpaid taxes from previous years can accumulate and result in significant debt.

Audits: The IRS may audit your tax return to verify the accuracy of your reported information.

Tax Liens and Levies: If taxes remain unpaid, the IRS can place a lien on your property or levy your assets.

Options for IRS help and Tax Relief

If you find yourself facing any of these challenges, there are several options for obtaining assistance and relief:

1. Installment Agreements

If you're unable to pay your taxes in full, you may qualify for an installment agreement with the IRS. This arrangement allows you to pay off your tax debt in smaller, manageable monthly payments over time. To apply, you'll need to submit Form 9465, Installment Agreement Request, and provide information about your financial situation.

Benefits of Installment Agreements:

Avoidance of immediate collection actions.

Reduction of financial strain by spreading payments over time.

2. Offer in Compromise (OIC)

An Offer in Compromise allows you to settle your tax debt for less than the full amount owed. This option is available to taxpayers who can demonstrate that paying the full amount would cause financial hardship. To apply, you'll need to complete Form 656, Offer in Compromise, and provide detailed financial documentation.

Benefits of Offer in Compromise:

Potentially significant reduction in tax debt.

Opportunity to resolve tax issues permanently.

3. Currently Not Collectible (CNC) Status

If you're experiencing extreme financial hardship and are unable to make any payments towards your tax debt, you can request to have your account classified as Currently Not Collectible. This status temporarily halts collection efforts by the IRS until your financial situation improves.

Benefits of CNC Status:

Relief from immediate collection actions.

Time to improve your financial situation without additional IRS pressure.

4. Innocent Spouse Relief

If you're facing tax debt due to errors or omissions made by your spouse or former spouse on a joint tax return, you may qualify for Innocent Spouse Relief. This relief allows you to be relieved of responsibility for paying the tax debt associated with your spouse's actions.

Benefits of Innocent Spouse Relief:

Protection from liability for your spouse's tax mistakes.

Peace of mind knowing you're not held accountable for errors you didn't commit.

IRS help

While navigating IRS issues can be challenging, seeking the help of a tax professional can make the process much smoother. Tax professionals, such as Certified Public Accountants (CPAs), Enrolled Agents (EAs), and tax attorneys, have the expertise and experience to guide you through the complexities of the tax system and negotiate with the IRS on your behalf.

Benefits of Professional Assistance:

Expert guidance tailored to your specific situation.

Reduction of stress and anxiety associated with dealing with the IRS.

Increased likelihood of favorable outcomes in negotiations.

Steps to Take When Facing IRS Challenges

Stay Informed: Keep yourself informed about your tax obligations and any communications from the IRS. Ignoring notices or failing to respond can lead to more severe consequences.

Gather Documentation: Compile all relevant financial records and documents to support your case. This includes tax returns, income statements, and any correspondence with the IRS.

Evaluate Your Options: Assess your financial situation and explore the available options for tax relief. Determine which solution aligns best with your circumstances.

Communicate Promptly: If you receive a notice from the IRS, respond promptly and professionally. Ignoring correspondence can escalate the situation.

Seek Assistance: Consider enlisting the help of a tax professional to guide you through the process and advocate on your behalf.

Conclusion

Dealing with IRS challenges can be intimidating, but understanding your options for tax relief and assistance can empower you to take control of the situation. Whether you're negotiating an installment agreement, seeking an Offer in Compromise, or enlisting the help of a tax professional, there are resources available to help you navigate the complexities of the tax system. By staying informed, proactive, and diligent, you can successfully resolve your IRS issues and achieve financial peace of mind.

[teenmomcentral]

Another day, another Teen Mom star in trouble with the taxman.

Amber Portwood found herself in hot water with the California government last month when she was hit with a tax lien for more than $59,000. In Touch Weekly was the first to break the news of the lien, which comes from the state of California, but The Ashley can add more details.

Amber— who lives in Indiana— was issued a notice of the state tax lien on April 18, notifying her that she currently owes $59,220 in unpaid California state taxes. The Ashley can reveal that the lien is for the tax year 2020 and, interestingly, the address given as Amber’s “last known address” is the Malibu, California, mansion where her baby daddy/ex Andrew Glennon lived with his family. However, Amber’s name appears solo on the documents, so Andrew has nothing to do with the income earned.

According to the tax lien documents— which were obtained by The Ashley— Amber’s lien stems from either Personal Income Tax from income earned in California, or Corporation Tax.

The lien documents state that Amber’s debt will continue to accrue fees and interest until she pays it off. It can also affect the property that Amber currently owns.

“Said lien attaches to the property and rights to such property now owned or later acquired by the taxpayer,” the docs state. (As ‘Teen Mom’ fans know, Amber currently owns a home in Indiana, which she only recently moved back into after allowing Andrew and their son James to live there for years while she stayed in rentals.)

This is not the first time Amber has been hit with a tax lien. Back in 2016, Amber received a federal tax lien for over $134,000 for unpaid income taxes.

Last year, Amber’s ‘Teen Mom’ co-star Maci Bookout was also hit with multiple tax liens for money earned in the state of California. Maci— a resident of Tennessee—owned the state of California over $26,000. This year, however, Maci’s tax debt increased when she received two new federal tax liens, totaling over $150,000. (In addition to a tax lien for $49,383 filed against Maci on February 2, the ‘Teen Mom’ star was hit with another lien for $105,346 that was filed against her and her husband, Taylor McKinney.)

Amber has yet to comment publicly on her new tax lien. (However, it’s possible that she wasn’t even aware that the lien had been filed until the story went public, given that the notice appears to have been mailed to the home of Andrew’s family, where Amber does not live.)

Luckily for Amber, she will be earning a hefty paycheck for appearing on Season 2 of ‘Teen Mom: The Next Chapter,’ which premieres Thursday on MTV. It is unknown if Amber’s tax troubles will be covered on the new season.

[sadanseo]

How to Get Out of Tax Debt: Your Way to Financial Freedom

If you have financial problems and can't pay your taxes, you may be eligible for tax debt relief. You have two options for getting out of tax debt: the Internal Revenue Service (IRS) or looking into private organisations' programmes.

What is the Significance of Tax Debt Relief?

You have numerous options to alleviate your tax burden, including repayment programmes with the Internal Revenue Service and private companies. One way that tax debt relief programmes might help you save money is by waiving late payment penalties.

There will be steep penalties and interest charges if you pay your taxes late. The Internal Revenue Service will levy additional fees to establish a payment plan. To learn more about these costs, including late payment penalties, visit the IRS website.

Resolving Tax Debt: Other Options:

There are methods to spread your payments and make them more manageable, even if you don't qualify for any of the IRS's relief or forgiveness programmes. Potential Next Steps:

�� Loan for Individuals:

A personal loan could be a smart alternative to a credit card if you have a lot of debt and prefer a lower interest rate. You can pay your taxes in one convenient instalment using the funds from your loan.

• Roth IRA:

Withdrawals from 401(k)s are typically reserved for dire situations due to the possibility of additional taxes and penalties.

• Credit cards:

To make your tax payment more manageable, you can use a credit card and pay for it over time. Consider that using a credit card might result in hefty processing fees and interest charges. Make a plan to pay off your debts as much as possible before you do this.

• Home equity lines of credit (HELOC) or loans secured by real estate (HELO):

You risk losing your house if you don't repay a home equity loan or line of credit (HELOC), even though the interest rates are lower than those of other loans.

The Internal Revenue Service Debt Relief Programme: Who Is Eligible?

Individuals facing financial difficulties and unable to pay their tax obligations may be eligible for a tax debt relief programme. Incorrectly reporting income or failing to claim all deductions were the most often cited tax concerns with the new start programme.

Asset seizures, federal tax liens, and IRS debt can result from those above. The IRS may audit your tax return if you have made a serious error.

If you're eligible, you can lower your tax bill by using tax preparation services. The Internal Revenue Service has limited authority to garnish wages. You must promptly contact one of their tax experts upon receipt of a notice of intent to levy.

The staff can assist you in understanding IRS notices, which may contain qualification requirements that vary by IRS office.

Conclusion:

We talk about tax debt relief up there. You shouldn't worry and stress out because you owe the IRS money. Everyone hates being in debt to the IRS. If you or a loved one are struggling to make ends meet, many tax forgiveness and assistance programmes can help.

[usnewsper-politics]

Ashley Biden Faces Tax Lien for Unpaid Taxes: What Does It Mean for the Biden Family? #AshleyBiden #BoothHouse #federalincometaxes #taxlien #unpaidtaxes

[taxconnectionsme]

Lien Withdrawal

A federal tax lien, sometimes called a “statutory lien,” is the government’s legal claim against a taxpayer’s property when the taxpayer neglects or fails to pay a tax debt. To provide notice to creditors, the IRS files a public document, Form 668(Y), Notice of Federal Tax Lien. Internal Revenue Code (IRC) § 6323(j) provides the Internal Revenue Service (IRS) with the authority to withdraw a…

[localbizpro]

To protect your assets from tax seizures in Salt Lake City, it's important to understand the process and your rights. The Internal Revenue Service (IRS) can seize property, including real estate, to satisfy tax debts. However, there are certain steps and measures you can take to prevent this:

https://taxdebthelpsaltlakecity.com

Payment Plans: If you owe taxes, consider setting up a payment plan with the IRS. This allows you to pay off your debt over time and can prevent the IRS from seizing your assets.

Appealing the Seizure: If the IRS intends to seize your assets, you will receive a notice. You can appeal this decision by filing IRS Form 12153, requesting a Collection Due Process hearing.

https://www.reddit.com/r/ExpertReviews/comments/18d6er9/protect_assets_from_tax_seizures_in_salt_lake/

Asset Protection Strategies: Consider legal asset protection strategies. For example, transferring your primary residence into a revocable living trust can offer some protection, as trusts can sometimes shield assets from tax seizures.

Consult with a Tax Professional: Tax laws are complex, and the assistance of a tax attorney or a certified public accountant (CPA) can be invaluable. They can help you navigate the system, set up payment plans, and explore other options to protect your assets. Stay Informed and Compliant: Ensure you are up to date with your tax filings and understand your rights and obligations. Regularly review your financial situation to avoid falling into tax debt.

10 of the frequently asked questions (FAQ) related to asset seizure by the IRS, particularly focusing on scenarios in Salt Lake City:

What assets are exempt from IRS seizure? The IRS cannot seize certain types of assets. These include necessary clothing, undelivered mail, certain amounts of furniture, personal effects, tools necessary for your trade or business, unemployment benefits, certain annuity and pension benefits, workers' compensation, certain public assistance payments, and a portion of wages, salary, and other income.

  What is a notice of seizure from the IRS? A notice of seizure from the IRS is a legal notification that the IRS has seized your property to satisfy a tax debt. This notice will include information about the seizure, the reason for it, and your rights regarding the seized property.

  How do I stop the IRS from seizing my property? To stop the IRS from seizing your property, you can pay the tax debt in full, set up a payment plan, submit an Offer in Compromise, file for bankruptcy, or appeal the seizure. In Salt Lake City, you might also consult with a local tax professional for specific advice and potential state-level solutions. How often does the IRS seize property? While exact statistics vary, property seizures by the IRS are relatively rare and are often considered a last resort. The IRS is more likely to seize assets like tax refunds, wages, and bank accounts before moving on to physical property.

  What accounts can the IRS not touch? The IRS generally cannot touch certain accounts and benefits, including Social Security benefits, certain pension plans, disability payments, certain public assistance payments, and unemployment benefits. However, there are exceptions, especially if there's a federal tax lien involved.

  Can the IRS force me to sell my house? Yes, the IRS can force the sale of your house if you owe significant tax debts and have not made arrangements to resolve them. However, they typically pursue other assets first and will only target a primary residence under specific circumstances.

[thebusinesspress]

Understanding the Impact of Tax Liens: The Case of Rudy Giuliani's Condo

Last week, news broke that the IRS had placed a tax lien on Rudy Giuliani’s Palm Beach condo in Florida, revealing an outstanding tax debt of nearly $550,000 for the year 2021. This development has sparked curiosity about the implications of a tax lien and what options Giuliani may have to address it. A tax lien, specifically a Notice of Federal Tax Lien (NFTL) issued by the IRS or state tax…

[taxhelpers]

Former Housewives Star Kim Zolciak Divorcing Husband Amidst Tax Liens Totaling over $1.1 Million

For some time now, Kim Zolciak-Biermann, former Real Housewives of Atlanta star, has been denying rumors of money problems. Recently, however, the Internal Revenue Service escalated the money issue. Zolciak and her husband, Kroy Biermann, former NFL outside linebacker, reportedly owe more than $1 million to Uncle Sam. Anyone in this position probably needs back-taxes help from a legal professional, especially if liens have been filed by the IRS, as is the case with the aforementioned couple. To further complicate matters, an IRS tax attorney in San Jose has learned that the couple has filed for divorce, breaking the hearts of millions of devoted fans.

Divorce Proceedings Filed in April; Zolciak Seeking Child Custody

April 30 is listed as the official separation date for the couple, who were married for over a decade and had four children together during that time. Zolciak cited irreconcilable differences, and that the marriage had, according to her, no hope of reconciliation. The former Housewives star is seeking joint legal custody and primary physical custody of their four children, as well as spousal support. She also stated she intends to have her maiden name legally restored.

Loan Default in Couple’s History

Last fall, Zolciak and Biermann reportedly defaulted on the mortgage for their Fulton County, Georgia home. The $1.65 million loan was through Truist Bank. People Magazine reported that the bank planned to auction the home off this past March, and rumors circulated that it had sold for $257,000. Zolciak and Biermann adamantly denied this rumor, stating that “millions and millions of dollars” were put into the home, that it was worth almost $2.5 million, and that therefore it would never be sold for that amount of money. According to Redfin, when purchased in October 2012, its price was $880,000.

Tax Liens Total Over $1 Million

Federal tax liens have plagued the couple for many years, going back as far as 2013 and including 2018, 2019, 2020, and the current year. As of March 30, the exact total of the cumulative liens was $1,147,834.67. The state of Georgia also filed a tax lien of $15,000 for taxes allegedly due in 2018. Most individuals who face property liens consult a back-taxes attorney to get back on track and make peace with the IRS.

Tax liens were designed to protect the government’s interest in real estate. The IRS must assess the tax liability and make sure a bill is sent to delinquent taxpayers, giving them a chance to pay the bill before a lien can be filed. The lien, referred to as a Notice of Federal Tax Lien, alerts creditors that Uncle Sam has a legal right to the real estate or personal property. Tax help is available in certain cases, and sometimes a payment arrangement can be worked out. If the tax liability is paid off, the lien is typically released. Unfortunately, tax liens and divorce often go together.

Liens may accrue interest and penalties even if the person is on a payment plan, so tax lawyers should be consulted by those who find themselves in this position. It’s unclear what the next steps might be for the former Housewives star and her soon-to-be ex-husband, as they did not respond to various requests for comment. Back-taxes help is available from qualified attorneys, so it is always wise to seek such help when facing tax liens or delinquent taxes.

[blogynewsz]

"The Shocking Truth Revealed: Rudy Giuliani's Jaw-dropping $550K Tax Debt Exposed by IRS!"

Rudy Giuliani, the former attorney for President Donald Trump, is facing financial troubles as court documents reveal that he owes over $500,000 in federal taxes. The unpaid balance of $549,435.26 for the year 2021 was disclosed in an August notice which stated that the Internal Revenue Service (IRS) had placed a lien on Giuliani’s property in Palm Beach, Florida. In response to inquiries about…

[lexingtontaxgroup]

Unraveling IRS Debt Complaints: A Pragmatic Look

Hello, readers. This is Lexington Tax Group again, here to talk about a critical issue many taxpayers face – IRS debt. It's a topic that's not exactly a crowd-pleaser, but we believe it's essential to understand. Today, we will dive into common IRS debt complaints and offer practical solutions to navigate these situations.

IRS Notice of Federal Tax Lien

One of the most common grievances is receiving an IRS Notice of Federal Tax Lien. This notice essentially states that the IRS has a legal claim against your property because of unpaid tax debt. This can significantly impact your financial stability and creditworthiness. It's crucial to address any outstanding tax issues promptly to prevent liens from being filed.

Slow Response Times

Many taxpayers lament slow response times from the IRS. This can be frustrating, especially when waiting for crucial tax resolution. Understand that the IRS often has a heavy workload, particularly during tax season. Consistency and patience are key here. Keep track of all communication and continue to follow up regularly.

Misapplied Payments

Misapplied payments can lead to potential misunderstandings regarding your owed tax balance. If you notice an error in the application of your payments, keep all relevant receipts and correspondence. Consider seeking help from a tax professional to assist in rectifying the issue.

Steep Penalties and Interest

Many taxpayers feel overwhelmed by the penalties and interest that accumulate on unpaid taxes. While these can seem excessive, remember that several programs can help manage these debts, such as the Offer in Compromise (OIC) or an Installment Agreement.

Complex Dispute Resolution Process

The IRS has procedures for dispute resolution, but they can be intricate and challenging to comprehend. If you're finding the process hard to navigate, it may be beneficial to engage a tax professional familiar with the system's nuances.

Dealing with IRS debt can be stressful, but it's important to know that there are resources available to assist you. If you have any questions or need guidance, don't hesitate to contact us at Lexington Tax Group. In our next post, we will continue to demystify the world of taxes and provide practical advice to empower you as a taxpayer.

800-328-8289

www.LexingtonTaxGroup.com

[advancetaxreliefexperts]

TRANSFERRING REAL ESTATE TO A SPOUSE AFTER THE IRS FILES A FEDERAL TAX LIEN 

There are a number of difficult questions that come up when one spouse has a debt with the IRS and also owns property jointly with their spouse. The question is often whether the spouses can transfer the property to the non-liable spouse. 

The answer is, maybe. The court addressed this in U.S. v. Gerard, No. 1:14-CV-67-TLS (N.D. Ind. 2018).

Contents

1 Facts & Procedural History On Gerard Case

2 Real Estate Title & the IRS’s Lien

3 Purchaser for Value

4 The Amount Invested Does Not Impact the Lien

5 If the Facts Were Different

Facts & Procedural History On Gerard Case

The taxpayers were married and they lived in a common law state. They purchased real estate together in 1990. The taxpayer-wife owned a sole proprietor business that accrued a balance for unpaid employment taxes. Several years later, the taxpayers filed a gift deed to transfer the real estate to the taxpayer-husband’s individual name. The court considered whether the IRS’s tax lien survived the transfer of the real estate to taxpayer-husband.

NEED HELP WITH AN OFFER IN COMPROMISE, TAX DEBT HELP, TAX PREPARATION, AUDIT REPRESENTATION OR STOP WAGE GARNISHMENTS

ADVANCE TAX RELIEF LLC

Call (713)300-3965

www.advancetaxrelief.com

BBB A+ RATED

Real Estate Title & the IRS’s Lien

Generally, when a married couple acquires real estate during marriage, state law will provide that the real estate is held in tenants by entirety (this is true for most non-community property states; the rules are substantially different for community property states…).

The term “tenants by entirety” is a real estate concept. It refers to a spouse owning an undivided one-half interest in the real estate.

Our Federal tax laws generally say that the IRS’s lien or right to property looks to the state definition of property. For property held by tenants by entirety under state law, the IRS’s lien attaches to the spouse’s fifty percent interest.

There are several nuances and exceptions to these general rules. One of these is the purchaser for value rule.

Purchaser for Value

The taxpayer-husband in this case argued that he was a purchaser for value and, as such, the IRS’s lien did not continue to attach to the real estate after the real estate was transferred to him.

A purchaser for value is:

a person who, for adequate and full consideration in money or monies worth, acquires an interest (other than a lien or security interest) in real estate which is valid under local law against a subsequent purchaser without actual notice.

The taxpayer-husband argued that he paid value for the real estate given that the taxpayer-wife had used marital assets to pay for her individually-owned business and that the transfer of the real estate was in satisfaction of that debt to him.

The court noted that, at best, this is past consideration. Past consideration represents an amount owed prior to the transfer that is being considered. Past consideration generally does not count for this purpose.

The Amount Invested Does Not Impact the Lien

Since the court concluded that the taxpayer-husband was not a purchaser for value, the IRS’s lien would attach to his wife’s interest despite the transfer. This leads to the question as to what interest the taxpayer-wife had in the real estate.

The taxpayers argued that the taxpayer-wife owned less than a 50 percent interest in the real estate. The taxpayers’ argument was that the taxpayer-wife had contributed 10 percent of the monies to purchase the real estate. Therefore, the argument was that the taxpayer-wife only owned 10 percent of the real estate.

The court did not agree. It concluded that the taxpayer-wife acquired a 50 percent interest despite only putting in 10 percent of the monies to purchase the real estate. The court reached this conclusion by examining the applicable state law.

If the Facts Were Different

While the taxpayers did not prevail in the court case, they may have other options.

What if the taxpayer-husband argued that the transfer was made to relieve the taxpayer-wife of her future obligations, such as an obligation to pay alimony to the taxpayer? This was not part of the case, but it may be that this future consideration may suffice to qualify a non-liable spouse as a purchaser.

It may also have been possible for the taxpayer-husband to refinance the real estate with a third party lender and pay the proceeds to the taxpayer-wife. If the taxpayer-husband were to do this, perhaps he could then qualify as a purchaser for value.

Similarly, if the taxpayer-husband could not qualify for a loan or find a lender who would lend given the potential IRS lien, maybe he could pay the taxpayer-wife a lesser amount to reduce the value of her 50 percent interest to 20 percent or less. The IRS usually does not pursue real estate assets that have less than 20 percent interest. Perhaps this would also have allowed the taxpayers to keep their real estate.

Hiring a Tax Relief Company

It’s not uncommon for tax debt advisors and tax relief companies to help taxpayers in distress. This can be quite helpful, especially if you aren’t sure how to fill out the forms you need. Taxes are complicated and there’s clearly a wide margin for error. Many people get into trouble with the IRS just for accidentally filling out a form wrong. Tax debt advisors can help you avoid this.

Our experts can help rectify erroneous tax bills and guide you in picking a suitable repayment program. Contact us today (713)300-3965 for back tax filing and tax relief services.

Advance Tax Relief is rated one of the best tax relief companies nationwide.

#TaxLien

#TaxLienHelp

#TaxLienAttorneys 

#TaxPreparation

#TaxLevy

#BackTaxes

#TaxReliefHelp

#WageGarnishment 

#OfferInCompromise

#TaxDebtRelief

#TaxAttorney

[irstaxexpert]

How Can a Tax Attorney Lawyer Help You With Your Taxes? Know the Benefits?

IRS tax debt is no laughing matter. You risk facing harsh fines if you don't pay an unpaid tax debt. The good news is that you might be able to take steps to lessen your debt. But, it might be challenging to know your options due to the intricacy of tax legislation. Fortunately, you can get assistance from a tax attorney lawyer. The top five reasons to engage a tax lawyer are listed below.

1.        Settle Your Tax Debt

Expert lawyers know your legal rights and the debt settlement options that may be accessible. They also bargain on your behalf and can streamline the conditions of your contract so that you pay over a shorter period. A partial settlement of your entire tax bill, such as an Offer in Compromise, might be possible.

Alternatively, you might be eligible for an Installment Arrangement, letting you gradually pay off your debt. They also look at things like Innocent Spouse Relief, bankruptcy possibilities, debt statute of limitations, and other things that might fully eliminate your debt.

2.      Safeguard Your Property, Bank Account and Wages

The IRS has several options for recovering unpaid taxes. A bank account levy is a popular technique telling the bank to take money directly from your account. Alternatively, the IRS can garnish your income, which means the government will take a portion of your paycheck before it reaches you. In rare situations, the IRS can place a lien on your property or even seize your home or other property to satisfy your tax debt.

The IRS will initially provide you with an opportunity and a notice to make payments in any of the circumstances above. Your assets will be at risk if you take no action and disregard all attempts to deal with the debt.

3.      Avoid Paying Interest and Penalties

If you are still liable to pay the IRS after negotiation, your lawyer can try to address any additional unforeseen costs. In addition to your unpaid tax liability, which will only grow over time, you may also owe interest and fines accumulated on your balance.

An attorney knowledgeable about tax laws would consider solutions like a Penalty Abatement to eliminate these additional expenses. If you are running a business, you need the help of a business tax lawyer.

4.      Save Your Credit Score

Your tax debt is not reported to credit bureaus by the IRS. But, the IRS has a way to file a Notice of Federal Tax Lien if you don't pay your taxes on time. After that, your debt will be public knowledge and appear on a credit report.

You can receive a lower credit score as a result of this. A tax settlement lawyer may be able to assist you in avoiding this circumstance altogether by entering into a payment agreement with the IRS, or if a lien has already been placed, negotiate to get the lien dismissed.

5.      Get Peace of Mind

Dealing with the IRS's bureaucracy and lack of clarity regarding the procedure is frustrating and unpleasant. You don't have to handle everything on your own; you may work with California individual tax return who is familiar with the legislation and procedure and can organize your affairs to help you move on with life.

A professional tax attorney will help you resolve all these issues and aspects in the best way possible. So you can realize how hiring such a professional will be beneficial and effective for you.

[sadanseo]

Tax Debt Relief: A Complete Guide

Those who have fallen on hard times financially and cannot make their tax payments may be eligible for tax debt relief. The Internal Revenue Service (IRS) or private organizations can assist you with your tax debt.

Understanding Tax Debt Relief:

There are many options for getting out from under your tax debt, including repayment programs with the Internal Revenue Service and private companies. One way that tax debt relief programs might help you save money is by waiving late payment penalties.

Interest and penalties increase quickly if you wait to pay your taxes on time. The Internal Revenue Service will charge you more money if you want to set up a payment plan. To learn more about these costs, including late payment penalties, visit the IRS website.

Other Options for Reducing Tax Debt:

You can still find ways to make your payments more manageable, even if you don't qualify for any of the IRS's forgiveness or relief programs.

Personal Loan:

A personal loan could be a smart alternative to a credit card if you have a lot of debt and prefer a lower interest rate. You can pay your taxes in one convenient instalment using the funds from your loan.

Roth IRA:

Withdrawals from 401(k)s are typically reserved for dire situations due to the possibility of additional taxes and penalties.

Debit cards:

To make your tax payment more manageable, you can use a credit card and pay for it over time. Consider the potential for hefty interest and processing fees when using a credit card. Before you do this, you need to figure out a way to get out from under your debt.

Home equity lines of credit (HELOC) or loans secured by real estate (HELO):

Although the interest rates on a home equity loan or line of credit (HELOC) might be lower than those on other loans, defaulting on either could result in losing your primary residence.

The Internal Revenue Service Debt Relief Program: Who Is Eligible?

You may be eligible for a tax debt relief program if you are having trouble making your tax payments due to various circumstances. Incorrectly reporting income or failing to claim all deductions were the most often cited tax concerns with the new start program.

The above can lead to IRS debt, asset seizures, and federal tax liens. An IRS audit may be in your future if you have filed a tax return and made a serious error.

If you're eligible, you can lower your tax bill by using tax preparation services. The IRS has very limited authority to garnish wages. Please immediately speak with a tax expert from their team upon receiving a notice of intent to levy.

The staff can assist you in understanding IRS notices, which may contain qualification requirements that vary by IRS office.

Conclusion:

We talk about tax debt relief up there. Being in debt to the IRS is something that everyone hates, but it doesn't mean you have to worry and stress about it. If you or a loved one are struggling to make ends meet, many tax forgiveness and assistance programs can help.

[usnewsper-politics]

Ashley Biden Faces Tax Lien for Unpaid Taxes: What Does It Mean for the Biden Family? #AshleyBiden #BoothHouse #federalincometaxes #taxlien #unpaidtaxes

[taxreliefservices]

CAN’T PAY YOUR TAXES?

WHAT YOU SHOULD DO!

TAX RELIEF BASICS

How it begins: financial problems, so you either (1) do not file the tax return, or (2) file the return but don’t pay the balance due. Not to worry, you tell yourself, next year will be better. Now it’s years later and a Certified letter arrives from the IRS, and the threats start, and maybe it is even to the point of a bank levy or wage garnishment. Now the IRS is wreaking havoc on your financial life and you simply do not know what to do.

We know what to do: We have helped thousands of our clients through this exact situation or very similar situations. Don’t fear, there is a light at the end of this tunnel.

As it turns out the IRS is usually only too happy to work with taxpayers, but there are some ground rule you need to be aware of and we provide a roadmap to guide you.

1. Know Why you Owe

The first step is knowing why you owe and if you agree with the amount owed if you have received a tax bill.

2. Tax Compliance

The next step in resolving your tax issue is to get into “tax Compliance.” Compliance means that you have filed all tax returns due for the last 6 years and have made your current tax payments. Once you are in tax compliance we can now work on resolving your the tax issues.

3. Collection Alternatives

There are three common collection alternatives to resolve a back-tax debt: Payment Plan, Currently Non-collectible Status and Offer-in-Compromise.

Payment Plan

A Payment Plan is an agreement to pay the taxes back over time. There are three variations of the Payment Plan: Regular, Streamlined, and Partial-Pay. Which type of agreement works best for you will depend upon your personal circumstances and current financial situation. This is something we can help you determine when you are ready.

Currently Non-collectible Status

Currently Non-collectible status is when the IRS determines that you are unable to make current tax payments due to financial hardship. When a taxpayer is deemed non-collectible the IRS will file a Notice of Federal Tax Lien to secure the Government’s position but will not take additional enforcement action to levy assets or income streams.

Offer-in-Compromise

An Offer-in-Compromise is an agreement which the IRS agrees to accept less than the total amount owed to it and the taxpayer agrees to pay the amount negotiated, as well as maintain his or her tax compliance for 5 years after the acceptance of the Offer-in-Compromise (“Offer”).

The basis for an Offer is a formula referred to as “Reasonable Collection Potential” or “RCP.” RCP is effectively the net equity in assets plus the taxpayer’s excess future income for 12 or 24 months, depending upon how the Offer is structured. This is where an experienced Tax Professional can assist with tax planning to help a taxpayer maximize the potential for the Offer’s acceptance.

If you or someone you know has an issue with paying their federal taxes and needs help to stop the IRS nightmare, please contact us by either phone at 808.589.2322 or visit us at www.TAXRELIEFSERVICES.com

Note: numerous other options are available depending on why you owe and how much you owe.

TAX KNOWLEDGE IS POWER!

GET THE POWER WITH www.TAXRELIEFSERVICES.com

Tax Problems Don’t Go Away

Don’t Wait Another Day, Call Today 808.589.2322

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Pay Actual Estate Taxes Online

If each present and prior year taxes are due, you have to pay the whole amount due in order to pay the prior 12 months taxes when utilizing one of these strategies of fee. The property tax account is being reviewed prior to billing. You have requested to choose out of the net show and access of your property tax account. There is all the how do you pay property taxes time a payment charged by the bank card firm, for the "loaning" of the money for 30 days. In personal industry the service provider pays the payment but is prepared to recover the cost by rising the value of their products.

Please notice, only our downtown department workplace can settle for cash payments. All other branch office locations accept checks, cashier’s checks and cash orders. For up to date department hours and locations, please visit ourLocationspage. The December twelfth delinquent date has handed and a 10% penalty has applied to the first installment of unpaid property tax payments. You might have the option to set up an installment plan.Some tax collectors will let you pay delinquent taxes in installments for as a lot as 36 months. They usually are not required to offer this selection except on a residence homestead.

Locate your county on the map or choose from the drop-down menu to search out ways to pay your personal property tax. Tax warrants are issued for all unpaid tangible personal property taxes. Taxing items begin mailing tax bills in October and payment is due upon receipt. Contact your native tax workplace in case you have not acquired your tax bill how do you pay property taxes by mid January. To permit for processing, we recommend scheduling your cost to be made no less than 5 enterprise days previous to the actual due date on the tax invoice. Be sure to verify the property tax account number submitted together with your fee as it might possibly change between billings.

A tax lien is a legal claim against property or monetary property you own or may have coming to you. It’s not a seizure of your property, but it's a claim on them. If you sell the asset, the federal government might be entitled to some or the entire proceeds. Payment could also be made by verify, licensed verify or money order and despatched to one of the addresses beneath. If you want to a receipt, please enclose a self-addressed stamped envelope. All payments made earlier than 5 pm EST are effective the identical day they're authorized.

The fee might show at your bank as PNP or P&P, so please don't cancel the fee. You pays your personal property tax online with an digital verify by using our Easy Check program which offers two handy choices. We are pleased to announce the implementation of the eCheck fee system for property owners how do you pay property taxes who wish to pay real property taxes online. The tax collector must offer you a receipt for your tax fee if you ask for one. Receipts are useful for federal revenue tax purposes and for ensuring that your mortgage firm has paid the taxes on your home.