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The Law Offices of Nick Nemeth - IRS Tax Attorney in Dallas
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“After many phone calls to the IRS, waiting sometimes more than 4 hours with no resolution to speak of, it proved to be extremely difficult and stressful.”
FAQs
How do I qualify for tax relief?
Taxpayers with back taxes owed might be eligible for tax relief. If you are seeking tax relief, there are certain procedures that must be followed. There is short-term tax relief for such events as wage garnishments, bank levies or tax liens. More permanent tax relief may also be available such as tax settlements, installment agreements, and penalty removal. Having an experienced tax attorney guide you through these processes can be invaluable.
How can you help me with IRS Tax Investigation?
Though you may be able to access your tax records by requesting them from the IRS, requesting those records on your own can often trigger red flags. Our team of attorneys along with our support staff can conduct an IRS tax investigation by requesting your tax records in such a way as to minimize the likelihood of raising any red flags and determine exactly where you stand with the IRS, risks you are currently facing and how best to resolve those issues.
Does the IRS impose interest or penalties for late filing or payment?
Yes. If you fail to file and pay your taxes on time, the IRS charges you interest on any unpaid balance and the interest rate varies and may be adjusted quarterly. You may also be subject to penalties, including the failure-to-file and failure-to-pay penalties. Each of these penalties are calculated a bit differently. Although both are capped at a maximum of 25% of your unpaid tax. The Failure-to-File penalty is 5% of your unpaid tax for each month the return is late. The Failure-to-pay penalty is 0.5% of the unpaid tax for each month the tax remains unpaid. The IRS will assess penalties for partial months.
How can I get my funds back once they have been levied?
Once the funds have been sent by the bank to the IRS, it can be extremely hard to get the funds back unless you do not owe the tax debt. That is why it is important to contact a Tax Attorney as soon as you receive a notice of a levy or, ideally, well before the levy occurs.
What is the difference between a lien and a levy?
Liens and levies are not the same thing. A federal tax lien is a public notice filed at a county courthouse stating that the government has an interest on all your property. A levy is when the government tries to take something such as a wage or bank garnishment or seizure of some other type of asset.
We try to answer commonly asked questions like these on the FAQ page of our website.
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