People in financial trouble often file for bankruptcy. Bankruptcy is a legal protection that halts collection efforts on existing debts and can allow debtors to wipe out debts completely or reorganize their finances to pay off those debts, perhaps at a reduced amount. But do these bankruptcy protections apply to tax debts? The answer is, [...]
The Internal Revenue Service has online applications to enter a payment plan to pay your tax obligations. Depending on your particular tax situation, you might have several options, including a short-term agreement, in which you pay your taxes in 120 days or less, or a long-term agreement, under which you take more than 120 days [...]
A spokesman for the Internal Revenue Service said in 2009 that more than eight million Americans owed $83 billion in back taxes, including penalties and interest. That is more than $10,000 for each of the eight million taxpayers encompassed in that estimate. The number of people who owed back taxes is considerable, and the amount [...]
There is perhaps no more hated organization in the United States government than the IRS. Nobody likes the tax man but on top of that, years of brutal budget cuts have left the IRS’s customer service department a shell, leading to a miserable experience for anyone on the outside trying to deal with the organization. [...]
Revocable Vs Irrevocable Trusts Trusts are a useful legal tool that many men and women rely on to safely transfer or store assets. However, many people only have a shallow understanding of trusts if any at all. Simply stated, a trust is a legal agreement between three separate parties: A trustor, trustee, and beneficiary. A [...]
Choosing The Best Business Structure For Taxes When starting a business, one of the first decisions you must make is choosing how to organize your company. This is a vital step that affect how much personal liability you face, what you will owe in taxes and the amount of paperwork and record-keeping you will contend [...]
Tax Deadlines And Penalties If you’re getting a tax refund, you don’t need to panic. You actually have until April 18, 2019 (or October 17, 2019 if you file an extension) to file with the IRS for your 2015 refund. There will be no penalty since the IRS calculates late filing fees based on the [...]
When Should I Hire A Tax Attorney? If the IRS notifies you that they are auditing one or more of your past tax returns, you should hire a tax attorney immediately. If you do not take action, the IRS may threaten you with criminal charges for tax evasion. This is why hiring a trusted, experienced [...]
IRS Fresh Start Attorney Atlanta Do you owe money to the IRS? Have you been subject to a tax lien? Is your business suffering due to unpaid taxes? For those who qualify, the IRS Fresh Start program may provide some help. The program has three provisions: 1) Installment Agreements An Installment Agreement gives you more [...]
Atlanta IRS Administrative Appeal Attorney Sometimes a taxpayer may find fault with an IRS assessment. If you disagree an assessment, you always have the option to take your dispute to Tax Court. However, as with any litigation, Tax Court can be costly and time-consuming. Fortunately, the IRS allows for an appeal process, which has the [...]