How to Get the Best Solution for your Tax Problem?

The IRS has become very vigilant with the law and any person not paying taxing on time or not filing their taxes will see the hard faces of the IRS officials in no time. If you are having a tax problem and fear that the IRS or the local and state taxing authorities may come after you, consult an attorney in your state immediately. It is never advisable to sit with your problems. If you close your eyes and can’t see the world, the world (in this case the rightful authorities) do not stop seeing you – so stop ignoring your problem and consult an attorney who will have a solution that best suits your tax problem.

There are several tax problems you might face. Before you look for a solution, it is best you understand what these problems are-

1. Non-filed Tax Returns - It is a criminal offense to not file tax returns on time. According to the law, you can be jailed for a minimum of one year if you do not file your tax returns on time. This is a serious problem that demands your immediate attention. However, if your financial situation is such that you are unable to pay the government and that is why you are delaying with the payments, do not worry. Consult an attorney and show him your financial holdings. Remember that if you file your tax return, you will be able to show exemptions and deductions that can reduce your tax liabilities. But if the IRS files the tax on your behalf, they will not look into your advantages but only the government’s.
2. Owing Back Taxes - Filing for tax returns isn’t the end of the story. If you have been pending your tax payments year after year saying that next year is going to be good and I shall pay my taxes then, you are making one of the biggest mistakes possible. In 3-4 years, the IRS can send you a letter where it will be mentioned that you have to pay three to four times more of the original tax amount because of the accumulating arrears. Tax penalties and interest can add up very fast making your back taxes increase. So before you get such a notification from the IRS, deal with the back taxes and consult an attorney.
3. IRS Liens and Levies - An IRS lien can take away everything you own. The IRS has the right to establish a lien against you which gives them a legal right to seize your assets, especially real estate and sell them as and when deemed necessary. Liens are also reflected in your credit report. IRS levies on the other hand have the power to seize your wages, stocks, bonds, Social Security Checks etc. However the worst is wage garnishment where your wage directly goes to the IRS. To come out of these problems you need to release the levies and liens. Your aim should be to come even with the IRS and reach a settlement where both gain rightfully.

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