Expert legal counsel to battle the IRS on your behalf, so you can live your life

Highly Experienced Richmond Tax Lawyer

Has the IRS been sending you letters and notices? Want that to quit immediately? We can help.

Notices and IRS Letters are sent to those 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 the Federal Government has the money to conduct its business. The Internal Revenue Service presumes that taxpayers who fail to pay their taxes and who are delinquent in filing their tax returns are blowing off the reason taxes are significant. The IRS also supposes that taxpayers do not have a great rationale for not fulfilling their tax obligations. Aggressive pursuit of these taxpayers is the reason IRS letters and notices are sent. For executing speedy group activity, delinquent citizens are on the Internal Revenue Service radar. Citizens must recall the IRS doesn’t have to initiate any court action to levy wages, bank accounts and property. Pension income may be attached.

Many IRS letters and notices are sent to impose a punishment on the taxpayer. Penalties are prolific now. In 1988, there were only 17 penalties the IRS could levy, but now the distinct of penalties is 10 times that number. The Internal Revenue Service also has over 75 distinct letters and notices it can send to individual taxpayers. Some of these can surely become serious problems for the citizen.

Some Examples of Letters

Low-Reported Tax Debt

A notice that asserts a taxpayer has under reported their income is a serious issue. Frequently, this could be accommodated easily, if the IRS claim is valid but the citizen will be evaluated a fee and interest. Whether this notice spans more than one year of tax filings, then the taxpayer could be accused of filing a fraudulent return. The interest and also the fees will amount to an unimaginable sum of money no matter the perceived motive.

Notice of Property Garnishes

A notice that threatens to attach property, bank account or a citizen’s wages is serious. The IRS will send a letter warning of the impending actions, and this letter will stipulate an amount of time the taxpayer has to resolve the delinquency. This notice follows letters which were sent to the taxpayer in an effort to solve the delinquency before it attains the collection actions.

Property Liens

A notice saying the IRS has filed a lien on the citizen’s property also follows this action to be taken by letters of intent. The notice will include the total amount of the governmental agency and the lien where it was recorded. The Internal Revenue Service can also force the sale of the property to acquire fulfillment of the lien. A notice will be issued if a sale is planned.

What you should do with a IRS notice

The taxpayer should never discount IRS letters and notices. Rather, they should immediately seek help with these possible hazards to their financial protection. Contacting our BBB A+ Richmond law firm is even more significant if notice or a letter has been received. We have many years of successful experience in working with the IRS and state of Virginia to resolve taxpayer problems.

Let our lawyers deal with the Internal Revenue Service and state of Virginia, in order to concentrate on running your business.

The Internal Revenue Service is a formidable collection machine for the authorities, and they will accumulate when your company has dropped into IRS company tax debt. So, if your business has overdue taxes including payroll tax debts there is no need to scurry for cover (and remember – never conceal) even in case you know little or nothing about coping with IRS business tax debts. There are seasoned professionals prepared to help.

Un-Paid PayRoll Tax Debts

The IRS looks at payroll tax – taxes levied on workers and employers – from two viewpoints:

• (a) Taxes an employer pays the IRS based on the wages paid to the employee (known as withholding tax’ and is paid out of the employers own funds) and
• (b) A portion of wages the company deducts from an employee’s wages and pays it to the IRS.

The company ends up footing the bill for both the forms of taxes as the withholding tax results in lower wages.

Tax Repayment Schedule

This payment schedule may be monthly or semi-weekly.

If you’re a new company and did not have some workers during your look back period’ or in case your overall tax liability is up to USD 50,000 for your look back interval’, you must follow a monthly program. Your payroll taxes should be deposited by the 15th of the month following the last payday.

In case your payroll tax liability is less than USD 50,000 you will have to follow a semi-weekly deposit program. These taxes must be deposited by Sunday, Monday, Tuesday or Wednesday following the Friday payday. You will fall into a payroll tax debt if you don’t pay your taxes on these days. You must seek the services of tax professionals keep from falling into payroll tax debt and to direct you through this labyrinth of procedures and avoid substantial penalties.

How To Deal With Unpaid Tax Debt

Revenue collected through taxes such as payroll tax are spent on financing plans like; health care, social security, unemployment compensation, worker’s compensation and at times to improve local transportation that carries many workers to and from work.

When you have to deal with IRS tax debts, it is extreme important to keep in touch by means of your IRS officials – never prevent or conceal from them. Most IRS penalties comprise a compounded interest rate of 14% this can turn a company turtle in a very short time, so dealing with IRS company tax debt it predominant.

How a Seasoned Richmond Tax Pro Can Help

Being in an IRS business debt situation is serious. You might have time on your own side when they gain momentum things get worse for you, although because the IRS is slow to start processing your account. Yet, you aren’t helpless. There are procedures you may be qualified for that a Virginia professional can use his good offices with the Internal Revenue Service to help you over come your company debts.

Among others, you desire a professional’s help for those who never have heard of an Offer in Compromise, Tax Lien Span, Uncollectible Status and Bankruptcy. Waste no more time, get in touch with us today to get out of business tax debt and save your business from close.

You have to act quick to avert future levies if you have had a tax lien put on property or your home

What is a tax lien?

A federal tax lien is a lien enforced by the government to lawfully assert against your assets if by any chance you don’t remunerate your tax dues. The lien cushions the claim of the authority to all your present property, inclusive of personal financial and real estate assets. Liens normally record the exact figure owed to IRS in the precise time that it’s imposed in a public file known as the Notice of Federal Tax Lien. The file notifies lenders that the government has a right to seize your property at any particular time. This specific information is conventionally obtained by credit reporting agencies that are different consequently tax liens finally reflect in your credit reports. Tax Liens are generally active ten days after issuing a demand to clear the tax debts that are stipulated.

Federal tax liens can readily be averted from being lodged by paying up all your tax dues and also before the IRS choose to impose a lien on your own assets. They can also be evaded through creating installment arrangements which sufficiently fulfill the requirements of the IRS as not to file a lien. A federal tax lien can’t be filed if a citizen made a decision to prepare a streamlined or guaranteed installment treaty. Such arrangements require the citizen keep a balance of less than or a figure $10,000 that for the guaranteed payment accord and for the streamlined arrangement it that is, should be $25,000 or less. If he or she tries their best to reduce that particular outstanding balance to just $25,000 or less and instead lays out a streamlined treaty. in a predicament where the taxpayer owes more than $25, 000, a tax lien can be prevented There are two methods of removing tax liens: release and withdrawal.

How can I get my lien wiped away?

Getting federal tax liens is like it never existed when the IRS resort to revoking the lien. Whenever the lien is filled, lien withdrawals usually take place. In a case where the tax lien is mistakenly filed, contact the IRS when possible. The IRS agents will check your account in order to substantiate you have no tax arrears then take the essential steps in withdrawing the lien.

Releasing a national or Virginia state tax lien typically means that your assets are no longer constrained by the lien that is imposed. Instantly after lien releasing, the county records will immediately be brought up to date to demonstrate that’s has been released. Nevertheless,the presence of a federal tax lien once will be exhibited in your credit reports for ten years.

What to Do Next

Instead of needing to pay tax debt at the same time to you all, let our Richmond team negotiate a payment plan for you

So long as their tax debt is paid by the taxpayer in full under this Agreement, they could reduce or eliminate the payment of interest and fees and avoid the payment of the fee that is associated with creating the Understanding. Establishing an IRS Installment Agreement requires that all necessary tax returns are filed before applying for the Agreement. The taxpayer cannot have some unreported income.

Good Things about an Installment Agreement

The agreement will lead to some important advantages for the taxpayer. While an arrangement is in effect enforced group actions WOn’t be taken. Life will be free of IRS letters and notices. When the taxpayer can count on paying a set payment every month rather than having to be concerned about putting lump sum amounts on the tax debt there is going to be more fiscal freedom. The citizen will eliminate ongoing IRS penalties and interest. The Internal Revenue Service will assist the taxpayer keep the agreement in force if the taxpayer defaults on a payment supplying the IRS is notified immediately.

Obligations of the Installment Agreement Compromise

Some duties include the Installment Agreement. The minimum payment should be made when due. The income of the incomes of citizens that were combined or an individual citizen should be disclosed when putting in an application for an Installment Agreement. In some cases, a financial statement should be supplied. All future returns should be submitted when due and all the taxes owed with these returns have to be paid when due. This way of making monthly payments enable the citizen to request that the lien notice be withdrawn. In the event the taxpayer defaults on the Installment Agreement, but, the lien can be reinstated.

An Installment Agreement can be negotiated by the taxpayer with the IRS. However, specific information must be supplied and any advice could be subject to confirmation. For taxpayers a financial statement will be required.

How to Prepare to Apply for an Agreement

There are some precautions that must be contemplated, while taxpayers can make an application for an IRS Installment Agreement. Even though the IRS tries to make applying for an Installment Agreement a relatively easy process, there are some condition which can make this a challenging task. Since an Installment Agreement can remove many issues with the IRS, it is essential to get it right the first time that the application is made.

We are the BBB A+ rated law firm serving all of Richmond and Virginia, that may provide skilled support to you. Our many years of expertise working with the Internal Revenue Service on behalf of Richmond taxpayers that have difficulties paying their tax debt qualifies us to ensure acceptance of your application for an Installment Agreement.

In the event you have had a garnishment put on your salary, our Virginia team can have it removed fast.

What is a Wage Garnishment?

IRS wage garnishment denotes the withholding or deduction of Virginia wages from an employee’s salary or damages emanating from cases of unpaid IRS taxes. If you owe the Internal Revenue Service back taxes and don’t respond to their phone calls or payment notices then chances are that you may be subjected to an IRS wage garnishment. In other quarters, it’s also known as wage attachment or a wage levy. It’s worth noting that a court order is generally not required and other state and national laws pertaining to the total sum of exempted from garnishment does provide several exceptions for the wage levies.

The garnishment procedure is generally quite lengthy, first the IRS discovers how much you owe them in back taxes, once this has been done, they’ll send you several payment request notices in the email in addition to more than one phone call with regards to the debt in question. Failure to respond to the phone calls and notices,automatically leads to a ‘Notice of Intent to levy” being sent to your last known mailing address. You normally have thirty (30) days to touch base with IRS with regards to this notice till they proceed and forwarding the notice to your Richmond employer. After this notice has been sent to the Richmond company, you have an additional fourteen (14) days to make an answer before garnishment of wages starts. The employer typically has at least one pay period before they may be expected to send the funds, after receiving a notice of levy.

How Much Can they Take from My Wages?

IRS garnishment rules typically allow the IRS to deduct or garnish more or 70% of an employee’s wages; this is largely done with the intention of convincing his representative or the employee to touch base with IRS to settle the debt. It is also worth mentioning 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 generally one of the most aggressive and severe tax collection mechanics and one should never take them lightly, as a matter of fact, they’d rather resolve tax issues differently and only sanction this levy when they believe they’ve ran out of viable alternatives. This really is typically not possible because of wide array of motives, though paying off the taxes you owe the IRS is the easiest way out of such as situation. First and foremost, you might not have the tax liability or the whole amount may belong to somebody else or your ex spouse, you will be asked to establish this however.

What should I do because of a garnishment?

Do so pretty quick and you therefore need to discuss any payment arrangements with the Inland Revenue Service. In this respect, it’s imperative that you just get in touch with an expert who’ll allow you to readily get a wage garnishment discharge and stop or end the garnishment. We’re a Richmond BBB A+ rated tax business using a team of exceptionally qualified tax attorneys with a long record of satisfied clients and years of experience to prove this. Touch base with us and we promise to get back to you within the shortest time possible, usually within one working day or less. We promise that will help you reach an amicable agreement with the Internal Revenue Service(IRS) and get you a wage garnishment discharge.

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