3 IRS Tax Problems You Should be Thorough With

With an upfront ‘no nonsense policy’, the IRS has no room for leniency in taxation. While the solution is simple: Pay your taxes timely, there are various reasons for being behind taxes and the consequences can be hefty. From issuing notices to seizing properties, the IRS has all the authority to recover the due amount by all means. This ultimately leads to huge IRS tax problems requiring prompt action and strategic planning. If you have outstanding taxes, then this blog is for you. Read along as we discuss three IRS tax problems you should know about and take appropriate measures to avoid any counter-actions by the IRS.

1. IRS Levy

Issuing a levy by the IRS is not at all good news for you, it simply means that the IRS had previously issued a tax lien and there has been no significant progress since then. While a lien secures the IRS’s rights in your assets, the levy allows them to seize your property and withdraw money from your bank account to recover the amount. Such IRS tax problems are where a tax debt lawyer can be your day saver by helping you deal with the IRS. 

2. Audit Letter by the IRS

The IRS issues an audit letter for various reasons ranging from a basic confirmation or informing about any modifications in your tax returns to a warning about the due taxes. When you receive an audit letter from the IRS, don’t panic and simply analyze the objective of the letter. If it is concerning outstanding balances, act quickly and do the following:

• Respond to the letter timely to avoid additional penalties

• Clear dues if possible

• Provide correct information for verification purposes

Dealing with an audit letter can be complex, which is why you should consult a lawyer for such tax problems.

3. Issues in Joint Tax Returns

The IRS allows married couples to file a joint tax return and offer ‘Earned Income Tax Credits’, however, any complications such as missing the deadlines by any of the spouses or non-compliance with the terms can lead you to trouble. When it comes to joint tax returns, both spouses are held accountable for any liability, requiring people to opt for Innocent Spouse Tax Relief. If you find yourself in a similar situation, reach out to an IRS law attorney to request Innocent Spouse Tax Relief.

Consult a Local Lawyer

Dealing with the IRS requires a quick and right approach. Any miscalculation can result in loss of assets, high penalties and ineligibility for the ‘Fresh Start Initiative’. This is why you should consult a local lawyer for your tax problems. For instance, if you are a resident of Dallas, consult a Dallas tax law firm that offers expert IRS problem resolution for tax levies. They will help with the forms and procedure so that you won’t have to run to the IRS locations in Dallas, Texas or anywhere yourself. Kick start your search for tax help in Dallas, by searching ‘tax attorneys in Dallas Tx’ or ‘Dallas tax attorney’ and consult a leading Dallas tax lawyer with years of experience.