Certain Situations That Really Needs Assistance from a Tax Relief Attorney
The global economic crisis has affected the lives of countless people today. Lots of people fall behind their tax duties and other financial obligations. Many deal with bad credit ratings, foreclosures, and tax debts. The Internal Revenue Service (IRS) will collect the money you owe from the government one way or another. This is when you require assistance from IRS tax attorney.
The following are the most common circumstances where you might need professional assistance. You may be familiar with a number of these so check them out.
I am operating a business and have not paid my taxes.
“Will the IRS shut my business down?” Yes, they are able to and they will. The IRS will collect all money due them. For those who have a sole proprietorship business, they can even place a bank levy on your personal account. This is because you and your business are viewed as one entity in this sort of setting. You can avoid this by obtaining the assistance of an IRS tax attorney as early as possible. Look for a counsel with a lot of experience. Your counsel will assist you in settling a payment plan that fits your personal financial predicament. You can reduce the harm using this method.
A revenue officer is knocking at my door.
A revenue officer from the agency could track you down. He will stop at nothing till you settle your debt. You’ll likely ask, “Is it too late to call a lawyer?” No. Get hold of your lawyer immediately for help. You could think of hiding, but you have to bear in mind that doing this or ignoring them is not going to help you solve the problem. This may cause account delinquency. The government will issue a bank levy in such situations.
So what is a bank levy?
Once the government has exhausted all means to contact you and collect the money you owe them, they’re going to give you a notice of levy. This means you only have 21 days to stop the levy from acquiring all the money from your account. Your tax relief attorney is aware that a bank levy freezes your accounts. There are cases where the amount debited from your account wouldn’t be enough to pay what you owe. If this sounds like the case, the government can keep on getting from your account until you have fully paid the debt. Your lawyer can help you resolve this so there’s nothing to worry.
The above-mentioned scenarios are some of the cases that require the aid of a tax relief attorney. This could mean additional expense for you. The great news is that they can help figure out an effective payment plan or reduce the amount you owe.
When your situation becomes out of control, get the assistance of a professional tax relief attorney.
Teresa Tonkin is a single proprietor looking for a tax relief attorney. For more details on how you could get the best of such attorneys, please read up about irs tax attorney.
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