IRS Tax Issues Take A Toll On You Financially, Physically, and Emotionally
Your IRS Problems are unlike other problems in life, which can sometimes go away by themselves. Unfortunately, IRS tax issues just continue to get worse and more costly with penalties and interest being added each day. The penalties and interest snowball leaving people with few options on how to get out from under this financial burden.
In addition, the Federal Tax Liens imposed by the IRS prevent you from being able to borrow any money for a car or home. The banks have gotten so tough on loaning money and opening new bank accounts that anyone with a Federal Tax Lien is usually prevented from even having a simple checking or savings account.
Once you owe the IRS money, they can become very aggressive in their collection attempts. One of the more common collection methods the IRS uses is the LEVY.
The IRS will use either a Bank Levy or a Wage Levy against you.
The Bank Levy allows the IRS to present your bank with a piece of paper that requires the bank to immediately withdraw all the money you owe the IRS and hand it over to the IRS. Many times these Bank Levies are wrong, but the IRS doesn’t care and it’s up to you to correct the problem. Meanwhile, the checks you’ve written are bouncing all over town.
The worst thing about the IRS Bank Levy is that it may attach and capture your childrens’, parents’, or spouse’s bank account, if your name happens to be on the account. Even if it’s just there for convenience.
As Bad as The Bank Levy Is, The Wage Levy (Garnishment) Is Much Worse!
The bank levy is a one time event. Meaning that the IRS must continue to issue a new Bank Levy every time they want to clean out your bank account. The Wage Levy (Garnishment) is much, much worse. The Wage Levy is issued to your employer and it instructs the employer to immediately start withholding ridiculously high amounts of money to pay old tax liabilities in addition to the normal taxes being withheld.
The IRS can also Simply Seize Your Assets and Sell Them At An Auction!
Many taxpayers with IRS tax issues end up losing everything to the IRS through seizure. For example:
- Real Estate
- Retirement Funds
- Insurance Policies
Do not underestimate any IRS employee’s ability to follow through on the threat of seizure. Every IRS office in the country has a public list of recently seized assets and details about the upcoming IRS auction to sell those seized assets.
People that have homes and then get into IRS problems, risk the chance of losing their home to the IRS.
Yes, I mean selling the home and giving the money to the IRS for payment of back taxes or letting the IRS seize it and selling it at auction. If you own a home and then find yourself owing the IRS $25,000 for some income or payroll taxes, you could be making house payments on your home that effectively is owned by the IRS. Once they file a Federal Tax Lien on your home, you can’t sell it without paying off the IRS.
Social Security and Retirement Plans are up for grabs.
How? The IRS leaves no stone unturned in its never ending quest to collect all taxes, penalties and interest. Sure, people think the IRS can’t or won’t levy retirement funds. They hope that when they are ready to retire, the IRS will forget about them and how much they owe in taxes. Don’t believe it, the IRS never forgets! They just keep adding penalties to what you owe each day until they find you, or your money, or your income source. Then it’s Pay Day for the IRS!
Are There Ways Out of IRS Problems?
Yes, there are ways to end IRS tax issues, but you must decide to end them, no one else can decide for you. When you decide that enough is enough and you want to have the things that everyone else has and you’re really ready to do something about your IRS tax problems, there are options available to you!
The solutions to solving IRS tax issues begin with the filing of old tax returns to get you in current compliance with the IRS. The IRS will not negotiate with anyone unless they are current with all required tax filings. This means filing all income tax returns and payroll tax returns, if you have employees. The IRS assumes that if you won’t at least get your required tax returns filed, then why waste the time trying to negotiate with you.
Our firm can work with your accountant or CPA to complete your tax returns or we can suggest an accountant or CPA for you. We realize that many taxpayers have lost old records or just can’t find them! We can help you file old tax returns without any records, but you have to take the first step. Once all your old tax returns are filed, then the IRS will at least listen.
Negotiating a Deal to Pay Less Than What You Owe Through the Offer in Compromise.
How much Less? Well, if you qualify, IT CAN BE a lot LESS! Through a program called an “Offer In Compromise”. This program allows taxpayers to pay pennies on the dollar to settle up on old income tax and payroll tax liabilities.
When I say Settle Up, I mean completely, 100%! There have been cases when a taxpayer offered and the IRS accepted $100 to pay off the entire debt of tens of thousands of dollars.
Once the IRS has accepted the amount you offer and you pay the reduced amount, then the IRS releases all Federal Tax Liens. Your IRS nightmare is over and you get your life back.
It is important to understand that not everybody qualifies for an Offer in Compromise. But, even if the IRS does not accept the taxpayer’s Offer, there are other forms of relief available for taxpayers.
Other relief includes:
- Obtaining a temporary hold on collection actions.
- Obtaining a long-term “non-collectible” status which in some cases results in the eventual abatement of the whole tax liability.
- Arranging with the IRS for an installment agreement.
- Getting the IRS to reduce the penalties.
Tax Problem Solutions For the Divorced or Separated Individual: Innocent Spouse Relief
Most married taxpayers file a joint tax return. When filing taxes jointly both taxpayers are responsible for the tax and any interest or penalties due on the joint return even if they later separate or divorce. This is true even if a divorce decree states that a former spouse will be responsible for any amounts due on previously filed joint returns!
One spouse may be held responsible for all the tax due even if all the income was earned by the other spouse. In filing for innocent spouse relief you may be relieved of the tax, interest, and penalties on owed taxes.
The Law Firm of Anthony J. Vignier can help you explore all the choices and options, but you must take the first step. You can come in for a Free Consultation to discuss your options in confidence.
Our Clients Never Meet With the IRS!
Many taxpayers use our firm to keep the IRS away from them and their families. We make the IRS call US, so our clients can go to work and carry on a normal life.
The Law Firm of Anthony J. Vignier has had success in ending IRS tax problems, but you must be ready to follow the firm’s advice. We can walk you through the IRS maze. We do all the talking to the IRS. Most of our clients Never Meet or Speak With The IRS. We also handle all the meetings and correspondences with the IRS.
Your IRS problem will not go away by itself. You only have three choices to end your IRS Nightmare. You can do one of the following:
- Pay the IRS 100% of What They Think You Owe Today.
- Set up a Monthly Payment.
- Reduce the Total amount You Owe to an Affordable Number and Get on with the rest of Your Life!