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One of the worst things you can do with IRS back tax debt is continue to fail it for a long time at a time. The Internal Revenue Service likes to add to the amount you owe, and certainly will stop at nothing to collect that money on interest charges and additional fees.
They are the biggest collection agency on the planet, and we firmly believe that no one should have to face them by themselves.
For most of US, having a huge government agency constantly harassing them with revenue officers and letters, notices is a terrible thought.
That’s why our Baltimore team is here to assist you. You will have someone in your corner, and no longer have to manage the IRS by yourself.
With only 15 minutes on the telephone with our specialists, you’ll understand exactly what you may qualify for, and what to do next.
Give our office a call today!
Ultimately put a stop to the letters and notices that the IRS has been sending to you, and let our Baltimore team help.
Notices and IRS Letters are sent to individuals in Baltimore who have not filed their tax returns or have not paid all of their tax obligation. The Internal Revenue Service accounts for collecting taxes due from citizens to ensure that the Federal Government has the money to conduct its business. The Internal Revenue Service presumes that taxpayers who are delinquent in filing their tax returns and who neglect to pay their taxes are blowing off the reason taxes are not unimportant. The IRS also supposes that citizens would not have an excellent rationale for not fulfilling their tax obligations. Aggressive pursuit of these citizens is the reason IRS letters and notices are sent. Individuals who have filed their tax returns but never have paid all of the taxes that are due, may also get IRS letters and notices. For executing swift group activity, delinquent taxpayers are on the Internal Revenue Service radar. Citizens must remember that the IRS does not have to commence any court actions to levy wages, bank accounts and property. Even pension income can be attached.
Fees are prolific. The distinct of fees is 10 times that amount, although in 1988, there were just 17 penalties that the IRS could impose. Some of these can definitely become serious problems for the citizen.
Examples of Notices
Under-Reported Tax Debt
A notice that asserts their income has been under reported by a taxpayer in Baltimore is a serious issue. Frequently, this may be reconciled readily, if the IRS claim is valid, but the taxpayer will be evaluated a penalty plus interest. Then the taxpayer might be accused of filing a fraudulent return, if this notice spans more than one year of tax filings. The interest as well as the fees will amount to an inconceivable amount of money no matter the perceived intention.
Notice of Property Garnishes
A notice that threatens to attach a taxpayer’s wages, bank account or property is serious. The IRS will send a letter warning of the impending action, and this letter will stipulate an amount of time that the taxpayer has to resolve the delinquency. Letters which were sent to the citizen in an effort to resolve the delinquency before it achieves the collection actions are followed by this notice.
A notice stating that the IRS has filed a lien on the taxpayer’s property also follows letters of intent to take this action. The notice will contain the quantity of the governmental bureau as well as the lien where it was recorded. This lien will stop the taxpayer from selling the property until the lien is filled, or the lien amount will be deducted from the proceeds of a sale. The IRS may also force the selling of the property to obtain satisfaction of the lien. A notice will be issued if a deal is planned.
What you should do with a IRS letter
The taxpayer should never ignore IRS letters and notices. Rather, they ought to immediately seek help with these potential dangers to their financial security. In reality, if a citizen who believes they may receive letters and notices from the IRS can contact us so we can stop these from being sent. Contacting our BBB A+ Baltimore law firm is even more important if notice or a letter has been received. We’ve got many years of successful experience in working with the Internal Revenue Service and state of Maryland to resolve taxpayer problems.
Our Baltimore team can remove your wage garnishment within 24-48 hours
What is a Wage Garnishment?
IRS wage garnishment refers to the withholding or deduction of Maryland wages from an employee’s salary or compensation emanating from instances of unpaid IRS taxes. If you owe the IRS back taxes and also don’t react to payment notices or their phone calls then chances are that you may be subjected to an IRS wage garnishment. In other quarters, it’s also called a wage levy or wage attachment.
The garnishment procedure is generally fairly long, first the IRS discovers how much you owe them in back taxes, after this has been done, they will send you several payment request notices in the mail as well as more than just one phone call with relation to the debt in question. You generally have thirty (30) days to touch base with IRS with regards to this notice till they proceed and forwarding the notice to your Baltimore company. Once this notice was sent to the Baltimore employer, you’ve got an additional fourteen (14) days to make an answer before garnishment of wages begins. The company generally has at least one pay period after receiving a notice of levy before they may be expected to send the funds.
How Much Can they Garnish from My Paychecks?
IRS garnishment rules commonly allow the IRS garnish or to deduct 70% or more of an employee’s wages; this is mainly done with the aim of convincing his representative or the employee to get in touch with IRS to settle the debt. Additionally it is worth saying that the income which are exempted from garnishment do depend on the tax filing status of the garnishee (filing jointly, married or single) and any number of listed dependents on the tax return.
Wage garnishments are normally one of the most aggressive and harsh tax collection mechanics and one should never take them lightly, as a matter of fact, they would rather solve tax issues differently and only sanction this levy when they believe they’ve ran out of workable alternatives. This really is generally not possible due to a wide array of reasons, even though paying off the taxes you owe the IRS is the easiest way out of such as situation. First and foremost, you may not have the whole sum or the tax liability may belong to somebody else or your ex spouse, you’ll be asked to prove this however.
What should I do because of a wage garnishment?
Do pretty fast and you thus have to discuss any payment arrangements with the Inland Revenue Service. In this respect, it’s critical that you just touch base with an expert who’ll help you quit or end the garnishment and to readily get a wage garnishment release. We’re a Baltimore BBB A+ rated tax company using a team of tax attorneys that are exceptionally qualified with years of expertise along with a long record of satisfied customers to demonstrate this. Touch base with us and we guarantee to get back to you within the least time possible, usually within one working day or less. We promise to assist you achieve an amicable arrangement with the Internal Revenue Service(IRS) and get you a wage garnishment release.
If your Baltimore company has run into payroll or tax issues with the government, we can help.
The IRS is a formidable collection machine for the Federal Government, and they are going to collect, when your company has fallen into IRS or Maryland business tax debt. So, in case your business has delinquent taxes for example payroll tax debts there is no need to scurry for cover (and remember – never conceal) even in the event that you know little or nothing about dealing with IRS business tax debts. There are experienced professionals prepared to help.
Un-Filed PayRoll Taxes
The IRS looks at payroll tax – taxes imposed on workers and employers – from two views:
- (a) Taxes an employer pays the IRS predicated on the wages paid to the worker (known as withholding tax’ and is paid out of the companies own funds) and
- (b) A percentage of wages the company deducts from an employee’s wages and pays it to the IRS.
Tax Repayment Schedule
The schedule of these payments depends on the typical amount being deposited (based on the look back period’ – a twelve month period ending June 30). This payment program can be monthly or semiweekly.
In the event that you are a company that is new and did not have any employees during your look back interval’ or in case your entire tax liability is up to USD 50,000 for your appearance back interval’, you must follow a monthly schedule.
If your payroll tax liability is less than USD 50,000 you will have to follow a semi-weekly deposit program. Should you fail to pay your taxes on these days you will fall into a payroll tax debt. You ought to seek the services of tax professionals keep from falling into payroll tax debt and to direct you through this labyrinth of processes and give a wide berth to hefty penalties.
Handling Back Tax Debt
Revenue collected through taxes including payroll tax are spent on capital plans like; health care, social security, worker’s compensation, unemployment compensation and at times to improve local transportation that takes many workers to and from work.
When you have to take care of IRS tax debts, it’s utmost important to keep in touch with your IRS officials – never avert or hide from them. Most IRS penalties comprise a compounded interest rate of 14% this can turn a company turtle in an extremely short time dealing with IRS business tax debt it predominant.
How a Professional Baltimore Tax Expert Can Assist
Being in an IRS business debt situation is serious. You might have time on your own side when they gain impetus things get worse for you, although because the IRS is slow to start processing your account. However, you aren’t helpless. There are processes you may be eligible for that a Maryland professional can use his good offices with the Internal Revenue Service to help you over come your business debts.
In the event that you have not heard of an Offer in Compromise, Tax Lien Interval, Uncollectible Status and Bankruptcy, amongst others, you need a Baltimore professional’s help. Waste no more time, touch base with us now to get out of business tax debt and save your company from close.
Rather than having to pay tax debt at once to all of you, let our Baltimore team negotiate a payment plan for you
So long as their tax debt is paid by the citizen in full under this Arrangement, they could reduce or eliminate the payment of penalties and interest and prevent the payment of the fee that is associated with creating the Arrangement. Creating an IRS Installment Agreement requires that all required tax returns are filed before applying for the Agreement. The citizen cannot have any unreported income. Individual taxpayers who owe $50,000 or less in combined individual income tax including penalties and interest can receive 72 months the sum of tax owed . In some instances, a taxpayer may request a longer span than 72 months to pay a tax debt of $50,000 or less. back
Good Parts about an Installment Agreement
The agreement will bring about certain significant benefits for the citizen. While an arrangement is in effect, enforced set action will not be taken. There is going to be more fiscal independence when the taxpayer can count on paying a set payment each month rather than having to worry about putting lump sum amounts on the tax debt. The citizen will eliminate interest and continuing IRS penalties. The IRS will help in the event the taxpayer defaults on a payment supplying the IRS is notified immediately, the citizen keep the agreement in force.
Obligations of the Installment Agreement Compromise
Some duties include the Installment Agreement. The minimum payment must be made when due. The income of the incomes of combined taxpayers or an individual taxpayer should be disclosed when putting in an application for an Installment Agreement. In some instances, a financial statement should be provided. All future returns should be filed when due and all the taxes have to be paid when due. This method of making monthly payments enable the taxpayer to request that the lien notice be removed. In the event the taxpayer defaults on the Installment Agreement, but, the lien could be reinstated.
The taxpayer can negotiate an Installment Agreement with the IRS. However, specific information must be provided and any info could be subject to confirmation. For citizens a financial statement will be required.
How to Get Ready to Apply
There are a few precautions that should be contemplated, while taxpayers can submit an application for an IRS Installment Agreement. Even though the IRS tries to make using for an Installment Agreement a procedure that is relatively simple, there are some situation which can make this a challenging endeavor. It is vital to get it right the first time the application is made, since many problems can be eliminated by an Installment Agreement with the Internal Revenue Service.
We are the BBB A+ rated law firm serving all of Baltimore and Maryland, which could provide skilled help to you. Our many years of experience working on behalf of citizens that have problems with the IRS qualifies us to ensure acceptance of your application for an Installment Agreement.
By using our penalty abatement system, you can instantly cut your tax debt in half.
Once the IRS hit you or your business using a tax bill, it generally appends interest costs and fees. Some fees, like late payments, they can be included by IRS computers.
Once penalties are inflicted, if you do not whine, the Internal Revenue Service assumes you acknowledge them. Fortunately, the IRS can confiscate a fee just as straightforward as it contained one. The key to the domain of the tax fee relief is showing a reasonable reason behind your letdown to mind with tax law.
The total amount of tax code fines that are distinct is staggering. Below are some of the fees that IRS will tack on to the debts of individuals who have not filed their back tax debts.
The Internal Revenue Service will impose a 20 % penalty on you if you were negligent or drastically minimized your taxes. This precision-linked fine is implemented when you are unable to set a deduction in a review, or you didn’t submit all your income along with the IRS learns it.
A fee 75% can be attached, if the Internal Revenue Service finds that you were not reported your income with a deceptive intention.
Fines for failing to make payroll tax deposits punctually are considerably elevated.
Not Filing on time:
The IRS can fine you an additional 5% per month on any outstanding balance if you did not file your return on time. However, this punishment can be used just for the initial five months after the due date of the return, equivalent to a 25% higher cost. When there’s no outstanding balance, the IRS can nevertheless impose lesser punishments.
When you know the reason and the way the IRS strike you with fines, you can require that they eliminated or be abridged. The IRS name for this process is known as an abatement. Approximately one-third of all tax penalties are ultimately abated, and it will be more should you understand the strategies to fight them.
Merely telling the IRS that you really do not like a penalty, or cannot afford to compensate it, will not work. You need to show practical cause, which means an excellent supplication. Based on the IRS, any sound cause advanced as the reason for postponement by a taxpayer in filing a return, making deposits, or paying tax when owed will be carefully analyzed.
Ways to request for an IRS penalty and interest abatement
Enclose the following documents with your written request.
- Letter from a registered medical practitioner, describing your state that prevented you from filing your tax return on time.
- Death certificate substantiating the bereavement of close relationships or your blood.
- A detailed report from the fire department if your property is damaged as a result of fire.
What to Do Next
When you have been imposed penalties by the IRS, there are some productive and simple methods to get your tax fines or interest condensed or even eliminated totally. We’ve been in the industry for years and we are devoted to offer our customers a professional IRS fee and interest abatement service in a legal manner. Contact us today to resolve all of your tax problems and the related penalties imposed by the IRS on your Baltimore business or on you.
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|Services / Problems|
Removing Wage Garnishments
Getting Rid of Tax Liens
Removing Bank Levies
Filing Back Tax Returns
Stopping IRS Letters
Stopping Revenue Officers
Solving IRS Back Tax Problems
Ironing out Payroll Tax Issues
Relief from Past Tax Issues
Negotiating Offer in Compromise Agreements
Negotiating Innocent Spouse Relief Arrangements
Penalty Abatement Negotiations
Assessing Currently Not Collectible Claims
Real Estate Planning