IRS tax code is extremely complex and it is no surprise that so many people run into tax problems each year. With thousands and thousands of pages of tax code, there are many different problems that taxpayers run into for various different reasons. The IRS understands that tax payers and not immune to problems and they have created methods and processes to make things easier on individuals. The IRS is willing to work with individuals on resolving their tax tax problems provided the tax payer is upfront and fully transparent about their problems and taking the proper steps to correct the situation. Even if there is a problem that exists that the IRS does not have a solution for, there are tax professionals that can help. You can be assured there is a solution to every tax problem out there.
Do You have unpaid IRS taxes that you can’t pay? Depending on how much you owe in unpaid taxes, your current financial situation and your future anticipated financial situation you may have options available to you. . The IRS is very understanding when it comes to individuals that cannot pay so the worst thing to do would be to ignore your problem as . Stiff penalties and interest payments may become due if you do not notify and comply with the IRS immediately.
If you fall behind in your taxes an IRS tax lien is the first major step the Internal Revenue Service may tax against you to collect delinquent taxes. With an IRS tax lien the Internal Revenue Service is making legal claim to your assets in order to guarantee payment. A tax lien can be removed if you pay the taxes owed in full or if you can assure the IRS that you will be paying. Throughout our website you will discover many different settlement methods the IRS will accept. Here you will find out more about why a tax lien is in place, the effects of a lien and the steps required to remove the tax lien.
Of all the different tax collection methods the IRS uses, a tax levy is the most severe. The Internal Revenue Service can legally take your assets in order to to satisfy the tax liability in the form of a tax levy. The IRS can levy your wages, money in your bank account, your house, your car, or anything else of monetary value. Typically, the IRS will give 30 days notice before they levy an asset and in most instances this is enough time for the taxpayer to take action to stop the levy. It is important that the tax payer understand more about how a tax levy works and actions that can be taken to stop the IRS.
IRS wage garnishment is a form of tax levy in which the IRS can garnish your pay check. This is one of the most common forms of levy for taxpayers that are salaried workers. Once again, it is very important for a tax payer to understand how an IRS wage garnishment works and the different methods that can be used to prevent the levy from taking place. It is also critical for the tax payer to understand the benefits of hiring a tax professional to help remove a wage garnishment.
Not filing a tax return and having back taxes is actually much worst than filing a return and not paying what is owed. Unfiled Tax Returns can result in a criminal offense while filing but not paying is “only” a civil crime. People mistakenly think that if they can’t afford to pay their taxes they are better off simply not filing. This is a big mistake! The sooner you take action and file your delinquent returns, the better. Find more information on the proper way to file back taxes, even if you do not have the right documentation or money to pay.
The Internal Revenue Service assesses large penalties and interest on past due taxes as a method for getting people to pay on time. It is important for a tax payer to know the most common IRS penalties and different tactics to avoid or eliminate not paying them.
Every year the IRS sends out about 75 different IRS letters to millions of American Tax Payers. Most of these letters have simple resolutions. However, sore are not so simple. This section of our website will help you determine what is a simple solution and what needs to be taken much more seriously.
Most people are familiar with statistics and the unlikely event of their taxes ever being audited. However the IRS uses very advanced computer systems and data to pinpoint tax returns that that should will be audited. If you have a simple return the likelihood of being audited is minuscule. However if you have a more complicated tax return you could be raising your chances of an IRS Audit.
For more information regarding tax problems and finding a solution, visit the IRS.gov website.