by Jones & Ryan Tax Attorneys
Dealing with the IRS and related tax problems can be anyone's worst nightmare. Once the IRS has begun to go after you, it can seem that they won't stop even after you think they have gotten what they want. The tax lawyers of Jones & Ryan have been working since 1995 to solve such nightmares. Grey W. Jones, Esq. and Cheryl L. Ryan, Esq. are tax attorneys with extensive knowledge in tax law and today want to answer some of your common tax questions for free. Below you will find four answers to common tax and IRS related questions. If you wish to find more in-depth answers and get more tax help our website offers an extensive frequently asked tax questions section that we are constantly updating, as well as, a simple tax help questionnaire to start a free initial consultation with our tax lawyers.
Why did the IRS file a tax lien against me?
A tax lien, usually filed with your county recorder, serves as notice to those who may loan you money (home or car loan, bank loan, credit card advances, etc.) that once the lien is filed, the IRS' claim against you for taxes will come before those of anyone loaning you money after the filing. With certain exceptions it attaches to all property, real and personal, tangible and intangible, in which you have an interest, wherever the property may be located. A lien does not result in the actual seizure of any property, real estate or other forms. Further, before the IRS can file a lien against your property, it should give you 30-day notification that it intends to do so. This may give you time to make a payment or other arrangements.
Can the IRS levy on my house? On my wages? On my bank accounts? What about retirement funds?
A levy usually means the property is actually seized by the IRS. In the case of real estate, it means the IRS can force a sale of the property and keep the proceeds up to the amount of taxes, penalties and interest owed. A certain portion of wages and commissions are exempt from levy; the amount depends on a number of factors, including the number of dependents. All forms of bank accounts-savings, checking and CDs-are subject to a levy in full. In order to catch subsequent deposits, the IRS must serve a new levy on the bank. Once wages are levied upon, the same levy reaches all subsequent wages, commissions, bonuses, etc. No forms of retirement funds are exempt from levy, including social security payments and other forms of government pensions. However, unemployment and workers' compensation benefits are exempt from levy, as are SSI and some forms of public assistance. A small amount of household and personal effects, and tolls and equipment used in the taxpayer's trade or business, are exempt from levy.
The IRS is garnishing my wages. How can I stop them?
The IRS will garnish your wages after proper notice. All the IRS wants is payment or a good reason why you can't pay. This is when you can negotiate a payment plan or an Offer in Compromise or convince the agency you are worthy of uncollectible status. It is imperative after you receive a notice of "Intent to Levy" that you deal with it immediately. Intents to Levy are time-sensitive and if you miss your deadline to reply, i.e. make payment arrangements, your employer will be made aware of the situation and your wages may be garnished. If you're not sure how to go about this, consult a qualified tax attorney to assist you.
When is the right time to consult an attorney?
There are various reasons you would need to consult an attorney such as: fraud investigation, a long audit or one that involves legal issues, inadequate books/records, not filing returns for a number of years, if you don't actually owe taxes, if the statute of limitations has run out or if you would feel more comfortable dealing with the IRS through an attorney. Whatever the reason, don't hesitate to contact an experienced tax attorney to help you through your foray into the wide world of IRS red tape. Many law firms including Jones & Ryan offer free initial consultations to better understand your situation and decide how they can help.
The Jones and Ryan Tax Attorney website offers an extensive frequently asked tax questions and answers page. You will also find free tax articles as well as information about our lawyers, firm, initial free consultation, and how to get in contact with us.
About the Author
Grey W. Jones, Esq. has handled over 220 tax files focused almost exclusively on "problem tax cases" such as liens, levies, audits, or enforcement action by the government and IRS.
Sunday, November 8, 2009
Monday, September 14, 2009
Being A Tax Attorney Is A Good Choice
by Jimmy JoJaks
Just like in the medical field, some lawyers choose a certain field of expertise. Although all lawyers have tackled and are considered knowledgeable in all aspects of the law, some would devote themselves only to divorce, family matters, succession, political, criminal, commercial, tax, and many others. How to become considered an expert in the field, your training should start from the time you entered college. How to become a tax attorney for example, it is ideal that you enrolled in a commercial course in college.
Accounting courses is the most courses for those who desires to be a tax attorney. This is the point where you develop an appreciation for numbers. Not that taxation is handling numbers all the time, it's just that comprehending taxation law concept will be much easier later on if you already have the background knowledge. Becoming a CPA is not really a requirement especially if you plan to practice law in private.
In case you are not good in numbers or have already graduated with a different degree, you can still be able to become a good tax attorney as long as you focused more in studying taxation law and commercial law subjects. While a student, it is important that you not only be able to remember what you have read but it is also important that you should be able to correlate what you read from other provisions of law.
Becoming a tax attorney is a good choice. Practitioners earn a lot compared to other lawyers especially if the firm you're working for have wealthy clients plus competition in that field is lesser compared to other cases. Going to law school can be a great choice even if you end up being a divorce lawyer for men.
About the Author
Jimmy writes a lot of content on the internet trying to spread the word about finance and investing. He likes to help people both save money and make money with the view of laughing all the way to the bank.
Just like in the medical field, some lawyers choose a certain field of expertise. Although all lawyers have tackled and are considered knowledgeable in all aspects of the law, some would devote themselves only to divorce, family matters, succession, political, criminal, commercial, tax, and many others. How to become considered an expert in the field, your training should start from the time you entered college. How to become a tax attorney for example, it is ideal that you enrolled in a commercial course in college.
Accounting courses is the most courses for those who desires to be a tax attorney. This is the point where you develop an appreciation for numbers. Not that taxation is handling numbers all the time, it's just that comprehending taxation law concept will be much easier later on if you already have the background knowledge. Becoming a CPA is not really a requirement especially if you plan to practice law in private.
In case you are not good in numbers or have already graduated with a different degree, you can still be able to become a good tax attorney as long as you focused more in studying taxation law and commercial law subjects. While a student, it is important that you not only be able to remember what you have read but it is also important that you should be able to correlate what you read from other provisions of law.
Becoming a tax attorney is a good choice. Practitioners earn a lot compared to other lawyers especially if the firm you're working for have wealthy clients plus competition in that field is lesser compared to other cases. Going to law school can be a great choice even if you end up being a divorce lawyer for men.
About the Author
Jimmy writes a lot of content on the internet trying to spread the word about finance and investing. He likes to help people both save money and make money with the view of laughing all the way to the bank.
Thursday, September 3, 2009
Tax Relief - What You Should Know About Tax Levies
by Rob Daniel
A tax levy is when the IRS seizes either your wages or your bank account after you have proven unable to pay your outstanding back taxes. In addition, a tax levy is imposed after you've been given many chances to pay and many warnings about the debt. "Seizing" essentially means that they put your bank account or your wages on hold, coordinating with your bank or your employer, so that you cannot access the money in either account. The IRS has the power to impose a levy even without the government being aware of it.
Horrible, yes; but, note that you'll be given chances to pay your tax delinquencies and many reminders to ensure that you remember to settle your tax debt before the levy is implemented. Think of the levy as a last resort.
Also, the IRS won't impose the levy right away. They'll give you advance notice - thirty days notice, to be exact. You can challenge this levy within the thirty days that you are given. This requires a lot of paperwork, which will take a lot of time, making the allotted thirty days seem even shorter. If you're the kind of person who cracks under pressure, it might be wise to get the help of a tax attorney or a licensed tax agent to sort out the details for you.
The best way to deal with a tax levy is to avoid it at all costs, especially if you're already in a tax relief program, such as the installment agreement plan. Once you miss an installment of your payment, a levy is automatically imposed. Therefore, simply don't miss any payments and keep your tax documents all organized from now on.
About the Author
Do you also want to learn about getting rid of your IRS and/or state tax problems? Visit us at our website for money saving Tax Debt Tips and Strategies. http://www.LimonWhitaker.com Over the past few years R. L. Daniel and partners have helped thousands of people with their IRS and state tax problems.
A tax levy is when the IRS seizes either your wages or your bank account after you have proven unable to pay your outstanding back taxes. In addition, a tax levy is imposed after you've been given many chances to pay and many warnings about the debt. "Seizing" essentially means that they put your bank account or your wages on hold, coordinating with your bank or your employer, so that you cannot access the money in either account. The IRS has the power to impose a levy even without the government being aware of it.
Horrible, yes; but, note that you'll be given chances to pay your tax delinquencies and many reminders to ensure that you remember to settle your tax debt before the levy is implemented. Think of the levy as a last resort.
Also, the IRS won't impose the levy right away. They'll give you advance notice - thirty days notice, to be exact. You can challenge this levy within the thirty days that you are given. This requires a lot of paperwork, which will take a lot of time, making the allotted thirty days seem even shorter. If you're the kind of person who cracks under pressure, it might be wise to get the help of a tax attorney or a licensed tax agent to sort out the details for you.
The best way to deal with a tax levy is to avoid it at all costs, especially if you're already in a tax relief program, such as the installment agreement plan. Once you miss an installment of your payment, a levy is automatically imposed. Therefore, simply don't miss any payments and keep your tax documents all organized from now on.
About the Author
Do you also want to learn about getting rid of your IRS and/or state tax problems? Visit us at our website for money saving Tax Debt Tips and Strategies. http://www.LimonWhitaker.com Over the past few years R. L. Daniel and partners have helped thousands of people with their IRS and state tax problems.
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