Last updated 2 months ago
The IRS has uses many tools to gain compensation for unpaid tax debts. Check out these resources from around the web for more information on tax audits, wage garnishment, liens, and levies. Give First Class Tax Relief a call at (888)903-6279 for more information.
- Read this CNN Money story about a woman who survived a recent tax audit.
- Visit this link from the United States Department of the Treasury for more information on tax levies.
- What is the difference between a tax levy and a tax lien? Learn more with this article from the Internal Revenue Service.
- This link from Investopedia.com provides a brief overview on tax evasion.
Last updated 2 months ago
When the IRS sends you a notice of intent to audit the will provide you with detailed information regarding the items you’ll need to bring in.
In this video, we take a closer look at how to prove expenses during a tax audit. Individuals who are writing off motor vehicle expenses that are related to their job will often need to bring in repair receipts, inspection slips, and mileage records to substantiate their tax records. You may consider asking vendors for copies of receipts or contacting your bank for copies of canceled checks and bank statements. Check out this full video clip for more audit tips.
Even if you are missing some of your tax records, First Class Tax Relief can help you survive a tax audit. Get the representation you need by calling our office at (877) 865-4561.
Last updated 2 months ago
The Internal Revenue Service uses a number of tools to collect unpaid taxes and tax debts. One of these tools includes asset seizure. However, you can protect yourself from asset seizure by consulting with a professional tax service or tax resolution company.
The IRS will employ asset seizure if you do not pay the full amount of tax debt after the placement of a tax levy. A tax levy refers to the legal seizure of your property in order to satisfy unpaid tax debts. This differs from a tax lien—which refers to a claim used as security for the tax debt—in that a levy actually takes your property as payment for outstanding tax debts. The IRS may seize and sell a number of property items through the use of a tax levy. This includes property that you own such as a boat, car, or home, as well as property that is yours but held by someone else, including your wages, bank accounts, and retirement accounts.
Once the IRS sends you a notice of intent to levy you generally have a 30 day window to pay back your tax debt in full before they begin the asset seizure process. It is important to contact a tax resolution firm as soon as you receive a notice of intent to levy from the IRS to determine the best course of action. A qualified tax help firm will help you resolve your tax debt and avoid asset seizure using a number of methods, including an Offer In Compromise, Installment arrangements, PPIA, and uncollectible status.
Don’t let the IRS seize your personal property or wages. Call the tax help specialists with First Class Tax Relief at (877) 865-4561 for more information on how you can remove tax levies, tax liens, and put an end to wage garnishments. You can also visit our website to setup an initial consultation.
Last updated 2 months ago
Some of the biggest tax problems that individuals face are due to unfiled tax returns with the IRS or the state. While a tax help company can help you resolve unfiled tax returns, there are certain things regarding unfiled returns that you will want to know.
1. The IRS Will File For You
When you fail to file state or federal tax returns the IRS will eventually file a Substituted File Return or SFR on your behalf. Unfortunately, they will not provide you with deductions and will place you in the highest tax bracket available. Once an SFR has been filed the IRS can begin the collection process for any unpaid taxes based on the tax bracket they have chosen.
2. Unfiled Returns Can Lead to Wage Garnishment and Asset Seizure
Many individuals do not realize how serious unfiled tax returns can be. However, unfiled returns can lead to a number of consequences, including wage garnishment and asset seizure. Wage garnishment is a process in which the IRS will take money away from your paycheck in order to satisfy the tax debt. Asset seizure, on the other hand, allows the IRS to seize a number of property items as payment for unfiled tax returns and tax debts.
3. You May Face Criminal Charges
It is also important to understand that not filing your taxes can lead to criminal charges if the IRS sees your actions as tax evasion. Tax evasion occurs when an individual owes more tax than stated on their return or they willfully and knowingly try to elude their taxes.
With years of experience, the tax resolution specialists at First Class Tax Relief are devoted to helping our clients resolve unfiled tax returns and protect their assets from seizure. Learn how we can remove tax liens and help you avoid wage garnishment due to unfiled tax returns by contacting our Houston location at (877) 865-4561.
Last updated 2 months ago
Are you ready for tax season? With that 2012 deadline of April 17 rapidly approaching, many Americans are scrambling to file their taxes on time. Check out these great resources to help you with your taxes.
- Which documents are needed in order to file your taxes? Find out with this BankRate.com article.
- Visit this link from the Internal Revenue Service for more information on tax levies.
- What is the difference between a tax lien and a tax levy? Check out this link from foxbusiness.com to find out.
- Check out this article from USAToday.com to learn more about the devastating impact that a tax lien can have on your finances.
- This article from Forbes.com discusses the 2012 federal income tax brackets and IRS tax rates.
For more information on our tax services, give First Class Tax Relief a call at (877) 865-4561 today.
