Tax Help Blog

IRS Tax Liens - How To Release Them

Mary E. King — Fri, 27 Jan 2012 19:20:21 -0700

While IRS Tax Liens are not as serious as a levies, they are a warning shot across the bow and if action is not taken to satisfy the IRS, a levy or wage garnishment may be in the works. A lien will prevent a property owner from selling their home until the amount in question has been paid, or the lien has been removed by a court order. The way it works is should the property owner sell their property, the IRS will take the money owed from the amount from the sale. Obviously this will keep a property owner from choosing to sell any property with a tax lien. New tax laws set in place in 2011 have made tax liens somewhat easier to remove. If the taxpayer owes less than $25,000 and is able to set up an installment agreement or other solution with the IRS, they may release the lien. Below are several other ways under the law a taxpayer can have a lien released from their property. The first is obvious but unlikely to be a solution for most: Pay the total amount owed. Naturally for most taxpayers with a lien, if they could afford to pay the entire amount owed, they would have done so. However may people do not realize they can use credit cards to pay the IRS. A taxpayer may be able to use a combination of credit cards cash and loans to pay the IRS. This is advisable if possible because in general the amount of interest generating from back taxes will be higher than a reasonable credit card or other loan. Another more likely path is to enter a payment plan or so called, installment agreement with the IRS. An installment agreement will allow a taxpayer to pay monthly payments on their tax debt, the restriction is the payments need to cover the total amount owed within three years. This time restriction will keep a limit on how small of a monthly payment an be agreed upon. It should also be noted once in any sort of agreement or compromise with the IRS, failure to make a payment may nullify the agreement. A direct debit arrangement with the IRS can allow the taxpayer to have the lien on their property released. Filing for an Offer In Compromise can also be a way to have the IRS release the tax lien. It should be noted however only a small percentage of taxpayers with back taxes actually will qualify for an offer in compromise. The process of negotiating an offer in compromise can be a lengthy and complicated ordeal and it is highly recommended an experienced tax attorney is hired to work with the IRS on your behalf. Upon successful offer in compromise the tax lien should be released, again should the taxpayer fail to make the agreed payments the offer in compromise could be nullified and the IRS will resume collections efforts. As in many court actions you may file an appeal to dispute the lien. The must provide taxpayers written notice of the lien within 5 days of it being filed. On the written notice will state a Notice of Right To Request A Hearing. This allows the taxpayer 30 days from the notice to appeal the lien. This strategy should thought through and only attempted if you have a realistic chance of winning the appeal. One consequence of appealing the lien is that the appeal will be recorded on your credit report as such it is advised to consult a tax attorney for the best options prior to taking action. Tax liens like any IRS problem can be complicated, frustrating and time-consuming to straighten out. It is highly recommended that you do not go it alone when confronted with this issue. Hire an experienced tax attorney and they may be able to quickly arrange a workable agreement that results in removal of the lien from your assets.

Wage Garnishment - How To Stop The IRS

Mary E. King — Thu, 26 Jan 2012 19:08:41 -0700

IRS wage garnishment can be stopped in essentially two ways; Either solve your tax problem or to cancel or delay the effects of the wage levy. Obviously it's better to resolve the IRS problem than to delay it however often an individuals situation may require some actions to delay or negate the wage garnishment, giving the troubled taxpayer time to resolve the tax issues. Stop the Wage Garnishment - Resolve Your Tax Problems By getting back into good standing with the IRS you will be able to stop a wage garnishment. You do not necessarily have to have paid the IRS in full to but enter into a negotiated settlement. Various programs are available to help taxpayers get back into good standing, an experienced tax attorney will be able to guide troubled taxpayer to the program that will work best for their specific situation. Below are some of the methods available to get back into “good standing” and halt wage garnishment. Get an Installment Agreement – The IRS will stop a wage levy once you have entered into an installment agreement with them. An installment agreement works like other loans or credit cards: you must make your agreed upon monthly payments including interest until the amount owed is paid off. To stay in the installment agreement, the monthly payments must be paid on time. The amount paid each month must allow for the entire amount owed to be paid in full within 3 years. Submit an Offer an Compromise – Many people may have seen tv commercials from tax forms advertising settlements for pennies on the dollar. What they are referring to is the Offer In Compromise Program. The Offer In Compromise Program or (OIC) allows a taxpayer to settle the tax liability for less than the amount owed. However there are specific guidelines that an individual must qualify for before the IRS will accept the OIC. While not everyone will qualify it should be noted that once you have submitted a proposal for an Offer in Compromise the IRS will halt wage garnishments during the negotiation process. This may a way to buy time to pursue another program should your offer be rejected. Hire an Experienced Tax Lawyer – IRS problems are both complex and the laws governing federal tax regulations are complex. As such it is advised to hire an experienced tax law attorney. A tax attorney will have the knowledge to make the right moves to end your wage garnishment quickly. In addition a tax lawyer may be able to reduce the amount owed to the IRS. It is also a clear advantage that the attorney will be representing you and the harassment from the IRS collection efforts will stop. Be declared Uncollectable or Hardship Status – it may be possible to show that paying the IRS will place a family under undo financial hardship. Hardship status is temporary but can last for months or even years if economic conditions o not improve. An attorney can file to have hardship status placed on a case and this will end the wage garnishment as well as allow time to fins a more permanent tax debt solution. Other methods to temporarily stop wage garnishment While not recommended there are other ways to temporarily stop wage garnishment including what some might consider a “cat and mouse game”. These methods are drastic and will only by time not resolve the IRS problem, and ma in fact only make it worse, however for those with no recourse a few options are available including: Change jobs; by changing jobs you may temporarily out pace the IRS's ability to get the legal approval to levy your bank account. File for bankruptcy – wage garnishment will stop when when you file for bankruptcy, however depending on your individual circumstances it may only be a temporary reprieve. An experienced bankruptcy attorney should consulted when deciding whether or not to go in this direction and only after discussing your issues with a qualified tax attorney. If you feel the levy is incorrect you may also file an appeal. Wage garnishment is a serious problem and should you find yourself in this situation the best possible thing you can do is consult a tax attorney. An experienced tax lawyer will have the best options available to stop wage garnishment and begin to put your IRS problems behind you.

Why Should You Hire A Tax Attorney?

Mary E. King — Wed, 25 Jan 2012 16:41:29 -0700

A experienced tax attorney can help for a variety of tax and business issues. In addition to the obvious need of legal help when facing IRS collections, a tax lawyer can also help companies structure themselves to best tax advantage allowing for the minimum taxes and greatest legal protections of any possible future tax dispute with the IRS or state government. However the most urgent time to hire an experienced IRS tax lawyer is when an taxpayer or business is facing a large delinquent tax problem or a dispute over the amount of taxes owed. Other than professional and technical benefits, working with a skilled tax attorney can offer the troubled taxpayer some peace of mind. An experienced tax lawyer will know the steps to take to halt intrusive IRS collections efforts during negotiation of the tax liability and may even reduce the amount owed to the IRS. It can be a big relief to know steps have been taken to bring the tax debt problems back under control.

Retaining An IRS Tax Lawyer Entitles You To The Attorney Client Privilege.

The single most compelling reason to use a tax attorney may be the attorney client privilege. Many are unaware of this but the only person exempt from testifying against you in a tax case is your attorney. To put it in another light – if you chose to have a CPA help you during a tax problem the court can have your CPA and accounting firm testify against you! Obviously they would be under legal oath to tell the truth of all details of your tax case. An Attorney however is exempt from this and as such a client can confide fully with their attorney and be secure in the knowledge any information shared between attorney and client will be kept confidential.

A Tax Lawyer Will Have All of The Legal Options Available

A Tax Attorney will have all of the tools under the law at their disposal. In addition as this is may be the only area the attorney works in, they will have years of experience an understand the best way to move forward for our interests. An attorney will be able to make decisive calls and get the scales tipped in your favor using a variety of available tax help programs under the law.

Experience and Skills To Negotiate With the IRS on Your Behalf.

Tax laws are both complex and change annually, resulting in a less than straight forward negotiations. What was legal last year my not be so this year or vise versa. As a result a troubled tax payer should place their trust with a tax lawyer with years of experience. They will understand the consequences of any action taken and have an idea of how the IRS may respond. Only an attorney will be fully competent to negotiate with the IRS for complex tax cases. Should a taxpayer make the mistake of having their CPA do the talking, any misstep could end up costing thousands of dollars or a poorly structured tax debt settlement.

Attorney Representation Can Bring Peace of Mind

An attorney can legally represent you before the IRS. This means all calls and correspondents related to your case can be directed to your attorney. This may seem like a simple thing but it can be a real stress reducer to no longer half to deal with constant harassment by the Internal Revenue Service. Furthermore if the IRS agents make a misstep themselves your attorney will be there to catch their mistake and use it to the clients advantage. While There are many reasons to use a Tax Attorney, biggest one is simple, a tax lawyer will offer you the best advantage in your case with the IRS. They may stop the collection notices and phone calls, and even reduce the amount owed. If you have significant tax problems contact your local tax attorney and put the IRS issues behind you.

Delinquent Taxes - Get Help From An Experienced Tax Attorney

Mary E. King — Wed, 21 Dec 2011 02:56:31 -0700

Taxes get the distinction of being called delinquent by the IRS under a specific set of circumstances. Once the due date of an tax liability assessment has passed or the time allowed for tax appeals has expired. Once this designation has been assigned to the back taxes the amount of delinquent taxes will be targeted by the IRS for collection procedures.

How to avoid collection actions on delinquent taxes

The obvious way is of course to pay the amount owed, however in most cases if a taxpayer could pay the amount owed the taxes would not end up as delinquent to begin with/ However it is important to act fast, even if you cannot pay the entire amount as there are options to help prevent drastic collections procedures from the IRS. If possible pay with a credit card. It is not a very appealing thought to pay a tax debt with a high-interest credit card but remember, the IRS has collections powers far beyond any credit card company, and they can use their authority to levy your bank account or even your wages – a credit card company would not be able to pursue the debt to that level. Contact a qualified Tax Attorney and they can help negotiate an installment agreement. This is away of paying the IRS debt in smaller monthly payments and preventing the IRS from taking more drastic measures. Again retain a skilled tax lawyer for help with negotiating an offer in compromise. Even if your petition to get a successful OIC fails the IRS will halt any collection actions already in progress during the negotiations, and the time may allow you to come up with another solution. Set Up A Wage Assignment If you are an individual who will have trouble making the monthly installment agreement payments due to a lack of discipline, signing up for a wage assignment may be the best way to stay out of further trouble. A wage assignment is similar to a wage garnishment except it is voluntary – and as a consequence may be a much easier payment to deal with. The IRS can take a large percentage of an individual’s paycheck even if they have dependants, so it will be better to sign up for a manageable payment strategy than let the problem continue. Ofcourse paying ther IRS your hard earned money is never going to be enjoyable, but there are ways to make it managable. Contact a local Tax Attorney Florida to find out your options.

IRS Tax Lawyers Solve Your Tax Problems

Mary E. King — Thu, 01 Dec 2011 00:00:02 -0700

Many people from all walks of life can end up with unwanted attention from the Internal Revenue Service. From the average Joe to self employed professionals to officers in large corporations. Even the odd politcian here and there ends up in the spotlight for serious tax problems.Further more tax problems also come in all shapes and sizes with many causes – everything from not filling, filling incorrectly, owing back taxes, payroll tax problems or even criminal tax evasion. The one thing troubled taxpayers have in common is not their problems but the solution. IRS Tax Lawyers. IRS tax lawyers have the knowledge and experience to get federal tax problems back under control. It’s important to note not every tax problem is the same, not every resolution will be the same, but overall there are a few main programs tax lawyers will relay on for many cases and they include most notably the offer in compromise, innocent spouse relief, installment agreements, currently not collectable or hardship status, penalty abatement, bankruptcy protection and reasonable cause. A skilled IRS tax attorney will know which of these programs will be the correct choice depending on the circumstances the taxpayer is in. Many people have seen TV commercials advertising settling huge tax debts for “pennies on the dollar” however in most cases the tax payer will not qualify for such a program. However an attorney will be able to negotiate to either reduce the debt down or break the amount into payments, or delay the collection actions until the taxpayer is better able to make the payments. Again the actual outcome of the tax settlement will depend on the individual’s situation, their income, health status, age, and the size of their tax liability. As with tax debt settlement programs the IRS problems usually fall into a few categories including, back taxes, overdue filing, tax penalties, a tax lien on property, bank account levy, wage levy (also called wage garnishment), harassment by the IRS collections officers, and Payroll Trust Fund Penalties. Some IRS cases may even be considered criminal and will require a very experienced tax attorney to properly represent the defendant. Many time the taxpayers’ problems start out small but due to the taxpayer ignoring the IRS build over years into a very large tax liability that becomes unmanageable. If you are receiving letters and phone calls from the IRS or have already been suffering from tax liens, bank or wage levies contact an experienced tax attorney immediately and get started on the path to resolving your federal tax problems today.

Florida Business Payroll Tax Problems Hire a Local Tax Lawyer

Mary E. King — Sun, 27 Nov 2011 19:13:40 -0700

If your Florida business has been drawing from the payroll trust fund to keep your lights on you will need help from a local payroll tax lawyer. Few tax problems get the IRS’s attention like payroll tax issues. The IRS will pursue any laps in the payroll trust fund payments aggressively and the consequences of failing to either satisfy the amount owed or respond with legal representation will be severe. If you are using the payroll trust fund money from your employee’s paychecks, it may seem to you a convenient way to get by in a tight spot, but the IRS will look at this as stealing from both your employees and the Internal Revenue Service at the same time! Further more the collections efforts the IRS will employ to settle the tax debt are ruthless. They simply do not care if your Florida business survives or not – they want their money at all costs and will put a padlock on the doors and auction off all of the businesses assets to get it. There is hope however! If you act before it’s too late a skilled Florida payroll tax attorney can put the collections efforts on hold while your tax settlement case is negotiated for your behalf. It’s important to get qualified legal help from a local Sarasota Tax Attorney and not from a large tax service. Only a local tax attorney will have the knowledge, skills and commitment to successfully represent a Florida business owner during a payroll trust fund case.

Reasons To Hire A Tax Attorney And Not A CPA for IRS Problems

Mary E. King — Sun, 27 Nov 2011 18:22:26 -0700

While there are many reasons to hire a local Sarasota tax attorney for tax problem resolution there are two major reasons above all others

Reason One – Confidentiality During Your Tax Case.

If you are in trouble with the IRS only an attorney can give you the attorney-client privilege. Why is the attorney-client privilege important for tax law cases? Easy - your attorney is exempt from testifying against you. That’s right, should your tax liability case go to trial, and you have chosen to work with a CPA or tax preparer for help, your CPA could actually be made to testify against you! The very people most familiar with your tax and financial situation would be forced to spill the beans on any damaging information they may have during your trial. Don’t take this risk, only work with a certified tax attorney if the IRS is taking actions against you.

Reason Two – Expertise To Make the Right Decisions

Only a Tax lawyer will have the experience in achieving tax settlements. While a CPA may be familiar with some tax settlement programs, they will not have a full understanding of the and ins and outs of the various programs. Tax laws and codes are complex and many times change yearly. In addition there are many programs available a troubled taxpayer can use to settle or reduce the amount of tax liability owed but only an experienced tax attorney will know how to qualify you and to determine both the best program to use. In addition many of the programs that can help have a down side, an attorney can inform you of any negative consequences resulting from any debt settlement program. Furthermore only an attorney will be experienced in working on cases with the IRS. Many times the IRS will not accept the initial offers and the process can go on for along time. An experienced tax lawyer will not panic and know how to adjust your settlement offer or appeals to gain a successful tax debt resolution. Being under collections process from the IRS is a dangerous time and the wrong advise can be very costly. Do not take any chances with your financial future, hire a tax attorney and get your tax settlement case resolved.

Offer In Compromise - Is Pennies On The Dollar For Real?

Mary E. King — Fri, 25 Nov 2011 18:32:24 -0700

Learn The Truth About The OIC Program

By now, most troubled taxpayers looking for a way to resolve their IRS debt have seen commercials from large tax debt relief services claiming taxpayers paid tens of thousands of dollars by paying only pennies on the dollar. Reactions to these commercials by taxpayers vary from "Wow I wont have to pay all this tax debt" to "It's scam no one really gets out of paying that much money to the IRS". The actual truth about the "Pennies on the dollar" is somewhere in the middle. While it is true some taxpayers can negotiate their tax debt by paying only pennies on the dollar with the offer in compromise program, the IRS has a very strict set of rules and a small percentage of taxpayers will actually qualify for the OIC program. To help understand the Internal Revenue's reasoning and motivation behind the OIC program it's important to remember the IRS is not allowing a negotiated settlement because they want to be nice. The IRS is accepting debt settlement offers for less than the amount owed because they feel they will either they will get their money faster, or that they would not otherwise be able to collect any funds at all. To Qualify for an Offer In Compromise the taxpayer (or their tax attorney) must show either of the following: Doubt of Collectability - Doubt of collectability means the amount of tax liability is correct but the taxpayer will be unable to ever pay the full amount owed. There can be many reasons for this including the age and health status of the taxpayer. Doubt of Liabiltity - Doubt of liability is more simple - the taxpayer must show they do not owe the IRS the amount the IRS has assessed. If a taxpayer cannot meet either of these requirements, they should consult a Tax attorney; other programs exist which they may qualify for the resolve their back tax debt. Once a taxpayer has been shown to qualify for an offer in compromise they must negotiate the amount owed - this amount must be an offer the IRS is willing to accept, and again the IRS has strict rules to determine this amount. In general the amount owed will vary on speed the taxpayer is able to repay the debt. The faster the repayment, the lower the amount will be. For the smaller but longer payment option, IRS will total all of the taxpayer's financial assets, income potential during the time allowed before the statute of limitations expires and the amount of money the taxpayers items would generate at a quick sale auction. As you can see it may be a contentious process to determine the amount of potential income, because of this it very highly recommended you retain a tax attorney who is experienced with offer in compromise. Obviously the small the amount of potential income, the smaller the final tax debt settlement amount will be. After the taxpayer and IRS has agreed on the amount the taxpayer will owe, the next step will be in deciding how it will be payed. The Offer In Compromise has three different payment options available. The cash offer - The cash is paid in five monthly installments. It is based upon your monthly disposable income times 48 plus your assets. It does not matter how much you owe the IRS, you still will only pay the above amount because it is based upon your ability to pay. The short term deferred offer - The short term deferred offer is paid in 24 monthly installments. This offer is based upon your monthly disposable income times 60 plus your assets divided by 24. The long term deferred offer - the long term deferred offer is based upon the amount of time left on your collection statute of limitations. Basically, it is your monthly disposable income times the months remaining on your statute of limitations. It should be noted that even a successful Offer In Compromise is not without it's risks. Once a taxpayer has a settlement agreement it is crucial they make their payments on time. Even one late payment can nullify the whole agreement and the taxpayer will once again be liable for the total amount owed. While it is true many taxpayers have qualified and settled for greatly reduced tax debts, as you can see it is no simple matter to qualify and agree on a settlement amount. If you are suffering from a large tax debt burden and receiving notices from the IRS contact a qualified tax attorney immediately to discuss your options. The longer you go without responding to the IRS the larger your IRS problems will become.

Foreclosure and the IRS

Mary E. King — Fri, 11 Nov 2011 22:16:25 -0700

- Federal employee retirement annuities,
- Federal payments made to you as a contractor/vendor doing business with the government (including Defense contracts),
- Federal employee travel advances or reimbursements,
- And some federal salaries.

If you have questions about the IRS taking your Social Security benefits or any other IRS related questions, please contact Tax Attorney Mary E. King at (941) 906-7585 for your free consultation.

IRS Problems Can Hurt More Than Your Financial Life

Mary E. King — Fri, 11 Nov 2011 22:06:15 -0700

Are you worried about your IRS problem? Losing sleep? Join the club. I hear that a lot. People will sit up at night and let their IRS problems eat away at them, night after night…causing them to lose sleep. Is your IRS problem worth sacrificing your health…or your life? Stress can be a killer. Literally. Stress can lead to heart attack, hypertension, stroke, cancer, diabetes, depression, obesity, eating disorders, substance abuse, ulcers, irritable bowel syndrome, memory loss, autoimmune diseases (e.g. lupus), insomnia, thyroid problems and even infertility. Procrastinating and hoping that your IRS problems will just go away is causing you a boatload of stress…But chances are that you may not have considered what that stress is doing to your body on a long-term basis. What about the effects on your marriage? Numerous studies have shown that the money problems are the #1 source of arguments in marriage. Money problems caused by credit card debt, loss of a job, unforeseen expenses – you name it...all of these can be stressful on a marriage. But if you toss an IRS problem into the mix, you may have a recipe for disaster. The IRS has more far-reaching power than any collection agency could. So if money problems cause arguments, IRS problems can cause absolute catastrophe. Divorce follows as a result, it introduces another whole host of problems emotionally and financially. You have one chance at life (as far as I know…) don’t waste another minute worrying about the IRS. The average life expectancy of an American male is 73 years. If you live this long, and you spend 5 years worrying about the IRS – that means a full 6% of your lifetime was spent in the shadow of an IRS problem. That’s too long. Plus, considering the fact that stress and sleep deprivation could actually shorten your lifespan…that 6% number could be greater. If you die at 60 and you spent 5 years worrying about the IRS, that’s over 8% of your lifetime. Don’t you have better things to think about? Of course you do. Although you may have forgotten them in a sea of worry…at one time you had dreams & goals – things you wanted to do in this life before you die. If you wish to rid yourself of your IRS problem and get back to living your life, contact Tax Attorney Mary E. King at (941) 906-7585.

Social Security and the IRS

Mary E. King — Fri, 11 Nov 2011 14:17:57 -0700

As an IRS tax attorney, I recently have had a number of questions about whether or not the IRS can levy on Social Security benefits. Many people are under the impression that the IRS cannot take your Social Security benefits. However, just the opposite is true. The IRS can take your Social Security to satisfy a tax debt. In fact, not only can the Federal Payment Levy Program allow the IRS to dip into some Social Benefits paid to you, but it can also take money that you’ve received from: - Federal employee retirement annuities, - Federal payments made to you as a contractor/vendor doing business with the government (including Defense contracts), - Federal employee travel advances or reimbursements, - And some federal salaries. If you have questions about the IRS taking your Social Security benefits or any other IRS related questions, please contact Tax Attorney Mary E. King at (941) 906-7585 for your free consultation.

Florida Tax Attorney Mary King Can Help Call Her Today

Mary E. King — Tue, 27 Sep 2011 23:56:46 -0600

The word attorney signifies someone who knows the legality of things. In fact, when things go wrong in the hands of law, people are likely to run to the midst of attorneys. In the field of legality and law, these attorneys are the experts who can provide you with the ample insights you need and the advices that will possible let you be rid of the troubles. More and more people are also aware that being attorneys who are able to play with the ups and downs of the law, they do earn handsome pays. Half of it is true. Why not? Their services often require a high payment. More so, there are several people who desire to become attorneys. They think that their financial satisfaction can be achieved through being in the field of law. Indeed, in several states, there are lots of vacancies for several sorts of attorneys whether they are experts in the areas of business, estate, income, international taxes, or with properties. The aspiring attorneys usually seek to have strong foundations and background from the finest law schools. They even prefer to get their degrees from stable and famous universities. They believe that their luck in landing a job will depend on the school of theirs which they will get affiliated with. After graduating from the law school and passing the licensure exams, attorneys have the option to either work for the government or be linked with private law firms. They may likewise start to build their own law offices and become private practitioners. If ever they prefer to stick with the government, they can secure posts in the various job openings whether as prosecutors or as advisors in partnership with the government of the state of course. Just like the doctors, attorneys must also choose a field of specialization. It can be in the area of business, property, tax, estate, or income. Their clients will of course be people who are faced with concerns in the said area. So if you are troubled with your property issues, consult a property attorney. So who are these tax attorneys? Tax attorneys are legal professionals who specialize in the field of taxes be it local or international. In every state, there are a lot of tax attorneys so you just have to take your pick. In most cases, large law firms would always prefer hiring tax attorneys who've had at least three years of experience. Most of the younger graduates are required to work as apprentices at first and through the course of time as they are able to collect more and more knowledge and experiences, their posts are also moved up. In short, they get promoted. A lot of young attorneys seek valuable experience from big law firms before they finally start up their own offices and practice going solo. Their main reason is for them to gather enough knowledge, a list of clients, and have their reputation practically stable. Once a tax attorney has gained his reputation in the business, clients will be flocking into his office. Tax attorneys should possess effective interaction and negotiating skills both with their staff and with their clients. Being meticulous, keen to details, rational and logical, as well as being an efficient communicator are key factors for a tax attorney. A tax attorney must also be familiar with the laws governing the local and international taxes. More so, he should be determined enough to fight off cases of frauds and tax evasions.

Tips On Finding a Florida Tax Attorney

Mary E. King — Tue, 27 Sep 2011 23:56:15 -0600

The internet connects people to a lot of information. Through the internet, a person can find and access information regarding Florida tax attorneys any time of the day and from any type of location. However, the internet can also be a pretty confusing resource. A person can have some difficulty trying to find the kind of information about Florida attorneys that he or she wants. Here are some tips to help you out: 1) Know your purpose: Why are you looking for information about Florida tax attorneys? Is it mainly for research purposes or are you looking to consult with a lawyer? This will tell you what kind of information you need. There are two types of information that you can be looking for: contact information or comprehensive information. If you are doing research on Florida tax attorneys, then the second one would be the type of information you need. You should be looking at websites that offer explanations of how Florida tax attorneys can help you with various tax problems. If, on the other hand, you want to avail of the services of a Florida tax attorney, then you should be looking for contact details. You won't need to visit websites with complicated explanations regarding tax laws and IRS techniques, you only need a brief description of a certain Florida tax attorney's services and contact details and you'll be done with your search. 2) Read before you click: People read internet text differently from text found in papers or books. When people see a huge block of text on the internet, they tend to skip it and just click the next button that they see. This is the reason why many companies can now "legally" infect your system with spyware. This is also the reason why people tend to get lost in their searches for various types of information. If you are doing a comprehensive search on the internet for information on Florida tax attorneys, you should know that a lot of companies could link to your search in order to bombard your system with advertisements. What you should do is carefully read the summary of the website before you enter it. By taking the little time required to read this, you will be able to save yourself a lot of effort. 3) Be prepared: When using the internet, you should always be aware that there are other people just waiting to take advantage of you. If you intend to find the information on Florida tax attorneys that you need, you should try to be prepared. This means that you should have some programs installed that will let you prevent any person from taking advantage of your system in any way. You should prepare antivirus programs, anti-spyware software, pop-up blockers, and other types of protective measures against malicious software. 4) Be specific: In order to narrow down your search try to be more specific about the type of service you are looking for. Let's say that using keywords like "Florida tax attorney" will yield you a thousand different results. By being more specific like using keywords such as "Florida tax attorney specializing in Tax fraud defense" you would reduce those hits to about 500 results. The more specific you get, the easier your search will be.

What To Do If You Did Not File Your Returns

Mary E. King — Tue, 27 Sep 2011 23:55:48 -0600

So you did not file your income tax returns for at least ten years, and here you come back into the country finding out that the IRS had been contacting you through your old good address but to no avail. Until such time that they find out of your quiet return to the country, they will automatically send for you to pay your dues for those ten years of being unable to file your income tax returns. So what you need to do is to get your documents ready and be ready as well to hear the shock of your life. The tax you owe them may be really high enough to let your eyes roll. But you've got no choice. It is either you pay your dues or you get convicted. Which choice would you then go for? Having failed to file your personal income tax returns can put you in real hot water with the Internal Revenue Service. If you are placed in this kind of situation, it will be best for you to hire a tax attorney. Living in Florida never deprives you of the best legal services. Being the busiest city, Florida has a wide range of tax attorneys who are experts in dealing with these sorts of cases. Once you approach any Florida tax attorney, you can feel assured and confident that your case will be suitably handled. Your Florida tax attorney will take charge of negotiating with IRS for an appropriate agreement. The first step which your Florida tax attorney will get busy with is to trace back the years of your back taxes. The IRS will send you constant reminders about the deadline of your dues. Without the considerable aid of a Florida tax attorney, you may be head over heels confused, harassed, and threatened. Do you think you can handle this thing on your own? If you feel like your head may plop like a balloon, get yourself one fine Florida tax attorney now! If you continue to disregard the fact that you need to file your income tax returns, the IRS will be very religious in sending you the reminders. It will even come up to the point that such reminders will turn unfriendly. Do not hence be surprised to one day face the Notice of Intent to Levy both of your wages and assets. This is a stressful situation. But with a Florida tax attorney, you will be provided with many options and you can likely be rescued from severe punishment. A Florida tax attorney will have nothing in mind other than the best interests that you can gain in the end. You may not have bothered thinking about this possibility. But then you know for a fact that you cannot in any way escape such fate. You need not prolong your agony and make matters worsen. This very point, contact a reliable Florida tax attorney. He or she will take care of everything. He or she will work things out for you such as reducing the punishment that you will get. You can trust them wholeheartedly with things such as these. Tax problems should be faced because you can never run away from them. Florida tax attorneys can lend a helping hand.

Locating The Most Trusted Attorney In Florida Mary King

Mary E. King — Tue, 27 Sep 2011 23:54:53 -0600

Locating a good tax attorney in Florida requires a little bit of finesse and a large portion of resourcefulness. Here are some tips you can use: 1) Never underestimate a resource. Most people today are so caught up with the developments of technology that they rarely pay attention to existing sources of information. What you should learn about information is that it can be found everywhere. You should try to consider every type of source that you have at hand and search. If you really want to find a good Florida tax attorney, you should not just try to look for one but actually look for one! The key to finding any type of information is to tear down any limits. You cannot just limit your search to the internet; you should try to use other sources too. Never underestimate any resource in your search for a great Florida tax attorney. 2) Know what you want. This translates to "be specific" when you are looking for a good Florida tax attorney, be sure that you know exactly what you are looking for. There are many tax attorneys out there and they all have different areas of specialization. In your searches, specificity will help you narrow down your list of prospects and actually get you results much faster. A Florida tax attorney can be quite easy to find. However, finding a great Florida tax attorney can prove to be quite a challenge. It is only by knowing what you want can you take the step to get it. 3) Gather Information : In order to truly know what type of help you need, you should have enough information about your situation. Try to learn as much as you can about the problem that you are facing. The first step to solving a problem is to learn what the problem is. By gathering information, you will be able to discern whose help you need and when. When gathering information, remember to follow rule number one and never underestimate a resource. 4) Listen to advice: Word-of-mouth is the best type of advertisement you can ever wish for. This is because people will talk about companies who provide great services. A good Florida tax attorney's reputation always precedes him or her. People who think that they can get along just fine searching for a Florida tax attorney on their own can be very much mistaken. Sometimes, the only way you will hear about an excellent Florida tax attorney is through the advice of other people. The only way you would be able to discern a great Florida tax attorney is if there are great things that can be said about him or her. 5) Accept help: Okay, this tip goes under the category of "what to do once you've found a Florida tax attorney". Remember that you are getting a lawyer because you need help. Sometimes people take too much pride in themselves and assume that an attorney is someone who can make their problems go away just like a genie. However, when they come to the realization that some sacrifices must be made to solve their problems, they are enraged and shun the help. Whatever you do, listen to the Florida tax attorney that you hire. This could definitely help you a lot with your problems.

How To Invest in Tax Lien Properties In Florida Ask Your Tax Attorney

Mary E. King — Tue, 27 Sep 2011 23:54:04 -0600

The procedures for the foreclosure of the tax liens vary from one state to another. There are some states which do not impose too much requirements from you as the taxpayer so everything will go on quite easy. You just have to petition your country court or go through all of the application processes with the aid of a Florida tax attorney. The proceedings really eat up too much time and too much money. But such case can be more handled with a Florida tax attorney. There are states which make things harder. Once your property is held up for foreclosure sale, there is a possibility that you will be relieved of the property since it will be awarded to the highest bidder. But of course you will receive your lien. If you are wondering as to how much percentage of the tax liens of your property will go straight to your pocket, it is important that you consult a Florida tax attorney who knows these things. Being equipped with the necessary knowledge and skill on liens on the tax, your Florida tax attorney can provide you with the answers to your queries. Other states offer only up to ten percent of the tax liens. There are a number of states which impose the rule of having higher percentage amounts for property tax liens. The foreclosure of any property does not come as a piece of cake. Investing in tax liens is not at all dependable. You may rather want to invest on deeds instead of focusing on the tax lien certificates. Do not have very stable hopes for investing on tax liens because in foreclosing a property, you need to pay for all of the succeeding taxes which are to be incurred by the property. Take note that a tax lien is not another kind of investment that you purchase which in time you will set aside or forget just like what you do with a CD or a bond. This is one kind of investment wherein you need to invest continuously if you really wish to get something out of it. There is likewise the need for you to continually pay for the taxes of the property during the entire course of the redemption period so that all of the taxes will be in a current state. As soon as the redemption period settles in to its end, there will be tons of expenses which you will have to pay just like the lawyer fees and title search. The first thing to be incurred during the foreclosure of a tax lien is the title search. After you have figured out other existing liens of the property, you should already distribute a pre-foreclosure letter which will inform the owner of the property and the rest of the lien holders that you will have to foreclose it in the event that you have not been paid with the exact amount which is due to you. Many of the liens will come out to save you from the many other responsibilities and stress. Getting the help of a Florida tax attorney will change things for you. For one particular reason, you will be able to further understand the situation, the technical terms, the possibilities, and many of the procedures in the foreclosure of the tax liens.

Hire The Best Florida Tax Attorney

Mary E. King — Tue, 27 Sep 2011 23:53:25 -0600

Tax is a very complicated matter, especially if you are facing the IRS. At first, it would seem like the IRS cannot be reasoned with. There are people who are so intimidated by the thought of the IRS that they are unable to even question the demands that the agency makes of them. Well, if you have experienced the various intimidation tactics used by the IRS, then what you need is a good tax attorney. If you so happen to live in Florida, then here are some good reasons to hire a Florida tax attorney: 1) Taxes are based on laws Many people think that accountants have something more to do with taxes than lawyers. Not many people realize the fact that since taxes are based on laws, then lawyers can help them more than accountants can. Hiring an accountant can help you with the computation of your taxes and in the rectifying of any error that you have made. However, there's not much help that a CPA can give you beyond that. A good Florida tax attorney will be able to help you with the different laws surrounding taxes and thus, can help you find a solution to your problem that's much more effective than correcting some entries. 2) Locality: One of the main reasons you should hire a Florida tax attorney is the locality. By getting a Florida tax attorney, you will be able to avail of the services of someone who is familiar with the idiosyncrasies of local tax laws. An attorney will be very effective in helping you with your problem if he or she knows the environment well. Be careful, however, as there are some local tax attorneys who are too afraid to offend local IRS officials and will thus, not do their best to defend your case. In the end, it is still a matter of skill and not location. 3) Creativity: If you are thinking that a Florida tax attorney will start painting different masterpieces to cover up for your tax problems, you might have the wrong type of creativity in mind. "Creativity" in this case refers to the law. A Florida tax attorney will be able to help you by showing you how to beat your problems using a number of different ways. You see, tax laws are not as unshakeable as you might think. A Florida tax attorney may be able to see a different interpretation of an existing law based on different statutes and policies and even historical events. Creativity in this sense means that a Florida tax attorney will be able to approach your problem in a new way. He or she will be capable of thinking outside the box. In fact, creativity in this sense means that a Florida tax attorney will be able to find holes in the box. 4) Compromise: The best thing about hiring a Florida tax attorney is the fact that through them, you will actually be able to negotiate with the IRS. Gone will be your mental image of the Big Bad IRS standing in the firm foundation of law. You will be able to realize the fact that since the IRS also knows that it could be standing on erroneous assumptions; it is actually willing to sit down with you and agree on a reasonable compromise.

Tips On Finding The Best Tax Attorney In Florida Today

Mary E. King — Tue, 27 Sep 2011 23:52:44 -0600

Locating a good tax attorney in Florida requires a little bit of finesse and a large portion of resourcefulness. Here are some tips you can use: 1) Never underestimate a resource. Most people today are so caught up with the developments of technology that they rarely pay attention to existing sources of information. What you should learn about information is that it can be found everywhere. You should try to consider every type of source that you have at hand and search. If you really want to find a good Florida tax attorney, you should not just try to look for one but actually look for one! The key to finding any type of information is to tear down any limits. You cannot just limit your search to the internet; you should try to use other sources too. Never underestimate any resource in your search for a great Florida tax attorney. 2) Know what you want: This translates to "be specific" when you are looking for a good Florida tax attorney, be sure that you know exactly what you are looking for. There are many tax attorneys out there and they all have different areas of specialization. In your searches, specificity will help you narrow down your list of prospects and actually get you results much faster. A Florida tax attorney can be quite easy to find. However, finding a great Florida tax attorney can prove to be quite a challenge. It is only by knowing what you want can you take the step to get it. 3) Gather Information: In order to truly know what type of help you need, you should have enough information about your situation. Try to learn as much as you can about the problem that you are facing. The first step to solving a problem is to learn what the problem is. By gathering information, you will be able to discern whose help you need and when. When gathering information, remember to follow rule number one and never underestimate a resource. 4) Listen to advice: Word-of-mouth is the best type of advertisement you can ever wish for. This is because people will talk about companies who provide great services. A good Florida tax attorney's reputation always precedes him or her. People who think that they can get along just fine searching for a Florida tax attorney on their own can be very much mistaken. Sometimes, the only way you will hear about an excellent Florida tax attorney is through the advice of other people. The only way you would be able to discern a great Florida tax attorney is if there are great things that can be said about him or her. 5) Accept help: Okay, this tip goes under the category of "what to do once you've found a Florida tax attorney". Remember that you are getting a lawyer because you need help. Sometimes people take too much pride in themselves and assume that an attorney is someone who can make their problems go away just like a genie. However, when they come to the realization that some sacrifices must be made to solve their problems, they are enraged and shun the help. Whatever you do, listen to the Florida tax attorney that you hire. This could definitely help you a lot with your problems.

Do you owe the government taxes?

Mary E. King — Tue, 27 Sep 2011 23:52:02 -0600

Do you owe the government taxes? Are you being audited by the Internal Revenue Services? Are you being accused of committing tax crime? If you answer affirmatively in one or more of the aforementioned queries, then you certainly needed the services of a tax attorney. How can you be certain that you need tax attorney's services? Well, you have to consider several things. First, if you think that the tax problem will not complicate things if ignored then; the answer is on the negative. However, if it will worsen when ignored, better get yourself an attorney before it's too late to do so. You might be subject to penalties or worst imprisonment. Tax penalties include fines, liens, levies, interests, and other penalties. Moreover, in criminal cases failure to pay tax or employing tax fraud can put the taxpayer to jail. So, you have decided to hire the services of a tax attorney. How are you to choose the right one? Remember that attorneys may either have a field of specialization or opt to become a general practitioner. Moreover, in choosing a tax attorney, be sure that he is an expert on taxation. However, it should not end there. Also consider his reputation and past records in defending his clients. Be sure that he is of good standing in that particular field of law. Also consider the attorney's fees. As you know, legal services are not cheap. In fact, if you insist to remedy your tax trouble yourself, the cost might multiply. Attorney's fees may vary according to place, achievements, and the like. Hence, before you ponder on other considerations, think of this aspect first. You might get frustrated if you have chosen an ideal lawyer yet; cannot afford his legal services. Talk to several tax attorneys. Ask them about their fee arrangements. To help you further, here are the common fee arrangements of tax attorneys: 1. Flat or Fixed Rate. This arrangement covers a set of fees for a particular legal service. 2. Hourly Rate. The fee is based on the time spent by the lawyer on your legal problem. 3. Contingent Fee. The fee is dependent on the amount of recovery secured by the lawyer. A fixed percentage of which will serve as attorney's fees. Nevertheless, you will still be responsible for particular expenses like filing fees, court costs, telephone charges, copies, and more. Another factor to consider is time. Time is one essential factor in tax problems. Time is always of the essence. Penalties will accumulate if your tax burden is not remedied at the earliest possible time. Further, you may also lose your chance to appeal, if you let the grace period lapse. You should also consider your personal preferences in choosing a tax attorney. Do you prefer seasoned lawyers? How about the gender? The personality of the lawyer must also be taken into consideration. He must be easy to talk with and confide to. This is because sensitive and confidential matters must be communicated to a tax lawyer so that he can give you the appropriate legal measures to apply. If some things regarding tax burdens are hidden from him, it will redound to the disadvantage of the client. All these factors must be contemplated to choose a lawyer that can work with you efficiently. In the end, it is essential to pick someone whom you can trust to do the best possible legal remedy for you.

Florida Tax Attorney Mary King Will Help You Get Over Your Fear Of The IRS

Mary E. King — Tue, 27 Sep 2011 23:51:10 -0600

Many people are wondering why there are so many lawyers running around in the country. Some share the opinion that there is entirely too much law. Whenever they encounter people such as Florida tax attorneys, they often ask themselves, "What do we need another one of those for?" To some people, a lawyer is a lawyer. In order to understand our need for Florida tax attorneys, why don't we try to see what they can do? 1) Help us with our fear Let's face it: for some people, the prospect of facing the IRS is even scarier than facing the FBI. This is because of the fact that the IRS is very good at intimidation tactics. This, after all, helps speed along a person's payment. A good Florida tax attorney can help you overcome this intimidation simply by letting you know exactly where you stand in the law. Once a Florida tax attorney has helped you get over your fear of the IRS, you can begin to truly fix your problems. You can begin by questioning exactly why you have to pay what the IRS wants you to pay. 2) Research: A good Florida tax attorney does excellent research work. This is necessary if you intend to handle your problems wisely. Information is the key to reaching a viable solution to any problem. By researching on the problem that you are facing, a Florida tax attorney would be able to think up a solution easily. It is only by familiarity that we can overcome adversity. 3) Interpretation: All law is ambiguous. This is especially true when referring to tax laws. This is because a good Florida tax attorney can find various interpretations of the law in order to help solve your problems. This means that the "solid" law on which the IRS often bases its accusations on can actually be softer than melting butter. By looking for various weak points in the accusation of the IRS, a good Florida tax attorney can help you get rid of your problems quite easily. This is often done by a compromise between you and the IRS. If the IRS recognizes that the legal ground it is standing on can turn into quicksand, the agency would be willing to sit down with you and actually agree on a deal that can benefit both you and the company. 4) Analysis: An important step to solving a problem is properly analyzing it. By knowing about the various causes and effects involved in your problem, a good Florida tax attorney will easily be able to find a solution. Proper analysis is the key to making great decisions. Analysis is also very important because it allows you to see where you stand. You will not be lifted by false hope and you will not despair from hopelessness. Through a Florida tax attorney, you will be able to take a calm look around, think clearly, and make your decision. The bottom line is this: people need the services of Florida tax attorneys in order to help them with the complications of tax laws. Although an accountant can help in the computation, a Florida tax attorney will be able to help you when it really counts. That, indeed, is a desirable thing. So what are you waiting for? Find a Florida tax attorney today.

Mary King Can Help You File Innocent Spouce Relief In Florida

Mary E. King — Tue, 27 Sep 2011 23:50:18 -0600

Most Florida couples file their joint income tax returns. Meaning, both of them are legally held to be individually and jointly responsible for the payment of the rightful sum of taxes. The spouse who has a limited source of income is made to be held responsible in the event that the other spouse fails to pay the correct total of the due taxes. The innocent spouse is by and large the one who usually gets into default with the seizures, audits, and tax levies. Such situation will only be averted if the married couple files a separation or a divorce. It is during these occurrences when both parties get devoid of the fact regarding the exact amount of the taxes owed by one another. During the time of the separation or divorce, the couple is advised to file their income tax returns jointly while this results to the payment of lower amounts of taxes. The situation becomes a medium for tax indemnification. This means that neither of them is to be held up responsible for the liabilities of each other with their own tax dues. The bad part to this is that the IRS will get its hand to the innocent spouse when one party fails to pay his or her dues regardless of their being divorced, separated, or being still together. Isn't it such a stressful condition? This can be alleviated though. All you need to do is to hire a Florida tax attorney in order to be able to deal with the situation well. A Florida tax attorney is one legal professional who is skilled and abreast in this field of expertise. Your Florida tax attorney will be conscientious in filing all of the needed paperwork to meet all of the things required to you. To make things short, your Florida tax attorney will act on your behalf. When you get subject to divorce or separation, you should at once consult a trusted Florida tax attorney before things get out of hand. Legally, a provision on the innocent spouse had been added to the 1971 Internal Revenue Code which was then modified in the year 1984. It emphasizes a limited scope of relief amount. It does not point out that there is a possible escape for one spouse who signed any tax return which contained any underpayment of taxes or any understatement of the said income, or any case of over calculation of the deductions for the intention of not paying the appropriate tax amount. In the year 1998, an additional relief has been added to the Code. With this Act, the innocent could now claim any of the relief forms such as for separation of liability, innocent spouse, or equitable relief. This Act relieves one of the spouses of the liability in terms of interest and penalty in a jointly filed tax return. More so, another relief has been granted to the divorced or separated taxpayers. There is now the separation of liability option. But then such party should prove that he or she has not taken part in the tax fraud. Before one of the parties will be contained an innocent spouse, the IRS will still have to weigh things over and over again. An ordinary individual will surely find this situation threatening and demoralizing. But a Florida tax attorney can best handle this.

Two Ways You Should NEVER Deal with IRS Problems

Mary E. King — Tue, 27 Sep 2011 23:49:16 -0600

Two Ways You Should NEVER Deal with IRS Problems

If you had cancer, who would you want to see first? a) Nobody. I’ll go it alone. b) a Nurse c) a Doctor d) an Oncologist An Oncologist, right? Why? Because an Oncologist is a physician that specializes in the treatment of cancer. Along that same line of thinking, if you had a problem with the IRS, would you go it alone? Don’t believe for a second that reading a couple books, a website or a couple emails about “how to deal with the IRS” will prepare you to deal with the IRS if you owe them money. The IRS has employees who make a career out of extracting money from people who owe taxes. They deal with it every day. They’re good at it. This is something you deal with once in a lifetime (hopefully). Face it – you’re not good at it. These people are trained to act like your friend and make you comfortable…and then use it to get you to say something you’ll regret. You wouldn’t “go it alone” with a deadly disease – don’t go it alone with the IRS. What about an accountant? Most accountants spend 3 months out of the year dealing with taxes. They spend the rest of the time balancing books and preparing financial statements. Just like having a good nurse can be a huge help to a cancer patient, a good accountant is a fantastic resource while you are still “in the clear” with the IRS. They can give you great advice on how to set up your personal finances and/or business finances to take advantage of legal tax breaks. But even the best nurse doesn’t have the power to prescribe the powerful medicines that are needed by a cancer patient – that right belongs to the Oncologist. Once you’re on the other side of the IRS and no longer “in the clear” (in other words you failed to file or failed to pay), your accountant is not in a good position to help you fight the mighty power of the IRS. That alone is the job of a tax attorney specifically trained in dealing with IRS problems. If you are “no longer in the clear” with the IRS, please call tax attorney Mary E. King to discuss your options. Get IRS Help Now - Contact Attorney Mary E. King at (941) 906-7585

Why should you hire a tax law attorney?

Mary E. King — Tue, 27 Sep 2011 23:48:40 -0600

First of all, facing the IRS means that you either haven't hired an accountant, or your current accountant has done a pretty bad job of managing your finances. This means that it is already too late to hire another CPA to fix your problem. The IRS has already done the math, so you will be wasting resources if you hire another person to do it all over again. You need to focus on areas that you still need to prepare for. What you need is a competent Sarasota, Florida tax law attorney to help you with the legalities that you will be facing. There is also the issue of client-attorney confidentiality. While a CPA can be forced to divulge any information concerning your accounts to a court, a tax law attorney is legally exempted from doing so. Remember that this confidentiality can be extremely important during trials. Another advantage that tax attorneys have over CPAs is a deep understanding of the ambiguity of tax law. CPAs are trained to recognize something as either black or white. They are trained to categorize things very specifically and may not recognize the various gray areas of tax law. A good tax law attorney knows that the law can have a thousand different interpretations and uses this fact to your advantage. A tax law attorney can also help you by giving you truly complete advice. This is because of the fact that they are experienced in matters involving tax laws. A tax law attorney will be able to give you advice on different legal measures that you can take to solve your Tax problems. A CPA can only help you in terms of fixing your budget or computing your taxes, but can offer very little help regarding how to fix your tax problems. A tax law attorney, on the other hand, can show you a lot of things you can do to legally get the IRS off your back. A good tax law attorney can help you by giving you various tips on how to compromise with the IRS and end up paying much less than what you might think is your due. The IRS can use different techniques to intimidate you into paying the amount that they will insist you owe. People who are unfamiliar with the methods of the IRS often pay this amount without taking the time to question why. A good tax law attorney can help you get over your fear of the IRS and meet them on the legal battleground. A good tax attorney will have the resources necessary to help you overcome any intimidation tactics that the IRS may use to force you to pay. The best reason that you can have to hire a tax law attorney is the fact that taxes are based on laws. This means that taxes are the natural stomping grounds of tax attorneys. They know their ways around it and they know how to survive it.

Hire A Business Tax Attorney

Mary E. King — Tue, 27 Sep 2011 23:48:01 -0600

Running a company or just running the personal finances is not always going to be so easy. In fact, those who do not follow the law and pay their taxes might run into a lot of trouble with the IRS. There are many out there who will turn to a tax attorney for the right amount of help. There are numerous tips to look into before hiring an individual for the much needed job. Those are in need of various services including strategic tax planning will need to make sure that they use this guide right now. This is the best way to seek a tax attorney - hire a business tax attorney within the shortest amount of time possible. Take note of the services that are offered to individuals and how the professional will be able to help. The sooner the search begins, the sooner the taxes can be taken care of so get started. It is important to sit down and assess the current needs. Those who are thinking of opening their own business do need to ensure that everything is put in order, before the doors even open. This is going to include hiring the right people to guide the individual through the process so that they do not run into any trouble. The business owner needs to sit down and list out their taxes and all of their finances so that they can get the right amount of help. If the individual has no idea what they need in the way of services, they are not going to get very far so take care of this step well in advance. Once the needs have been listed, start looking into various tax attorneys that offer various services. Strategic tax planning is a very effective service that people are signing up for. This helps the business owner to see what they need to be doing in terms of paying taxes and taking the taxes out through the entire year. This is typically what gets people into trouble so make sure that the right strategy has been laid out by the attorney hired. On top of that, getting the right help for debt relief for business owners is a great services to turn to. Individuals who are swimming in tax debt need to do something as soon as possible to get a handle on the situation and square everything away with the IRS. When the time comes to start looking for the right individual for the job, take the time out to look into their overall experience level. If the professional does not have a very impressive resume or case history, it is going to be incredibly difficult to get through any and all business or even personal tax issues. In order to find out about the overall experience, be sure to get on the phone and talk with a couple of offices or individuals. Ask them questions about their services and find out how they are going to be able to help out. This is going to make it much easier to get back on the right track within a very short amount of time. It will also be up to the individual to determine if they want to work with a professional firm, or just an individual. This boils down to personal preference and what the individual actually feels comfortable working with on a daily or weekly basis. If there is a lot of red tape to cut through, working with a firm is almost like having a team to help out with everything so keep that in mind. Conduct a local search in order to see which companies are available and go from there. It might also be a great idea to sit down and make some phone calls from home or the office to save some time and narrow down the search for the right tax attorney. Reading reviews about these individuals is a great way to get ahead. Those who are having a hard time getting in touch with someone that they can trust will be able to rely on consumer reviews. Individuals who were satisfied or dissatisfied will make sure that they spread the word through these reviews. Most of them can be found online at reputable sites, which will easily point the individual in the right direction. Read through these after talking with some professionals before actually hiring someone. Take the time to read and make sure that the very best person is chosen for the job. Once the right firm or individual has been located, be sure to discuss all of the fees. Every firm is going to have a certain fee that they charge per case or per session that will need to be covered by the client. If the fees are too high, this is going to make the situation even worse. Make sure to take just a little bit more time to find a reputable and affordable attorney that can help out. Making the right comparisons is going to help the client see where they need to turn. It is important to take care of this business as soon as possible. Those who wait around and delay the process are only going to be harming themselves in the future. Any individual needs to take care of their tax debt and their yearly taxes so that they do not get into any trouble. Do not waste any time, start the search right now in order to see who can take care of the rest within the shortest amount of time. In order to hire a business tax attorney, individuals should follow along with these excellent tips. Paying taxes and staying on the right track is not always easy, but there are individuals who are going to be able to get great services through reputable firms and professionals. Once the right individual has bee hired, it will be easier to move through the process and stay out of any and all tax trouble. Remember, these problems are not going to go away so take care of them right now.

Check The Details When Preparing Taxes

Mary E. King — Wed, 16 Jun 2010 23:45:50 -0600

Warning by Florida Tax Attorney Highlights Importance of Checking Details When Preparing Taxes

Taxpayers should pay attention to every detail of their tax returns, according to Florida tax attorney Mary E. King. That's because attorney Mary E. King said a variety of simple mistakes — including math errors, absentmindedness, inaccuracies as a result of rushing to complete returns, etc. — can all lead to nightmare scenarios if the Internal Revenue Service (IRS) targets them for an audit. "Taxpayers should prepare their returns as if they were interviewing for a job,"Mary E. King said. "Like a job applicant wanting to make a favorable impression and be honest about their background, taxpayers should prepare returns that are complete and that they know are correct." Attorney Mary E. King suggested several tips that taxpayers should remember to assure their returns are free of mistakes that include:

Always using a calculator when preparing returns. This is important even for the simplest of additions or subtractions because a minor mistake can snowball into a larger one in terms of the final amount reported on a return.
Taxpayers should never complete returns when they are tired or rushed. Attorney Mary E. King said that doing so can result in mistakes that may be minor but, as with math problems, IRS tax problems can worsen later as a result of their initial error.
Don't begin a return until all information is available. This includes documentation such as W2 forms, collection of sales receipts, cancelled checks, etc. Beginning a return before all needed information is available leads to unintentionally omitting it.

"Preparing a tax return that is detailed isn't difficult," Attorney Mary E. King said. "But the process involves organization and avoiding simple mistakes such as math errors." If you have questions about an IRS issue or are facing an IRS audit, please call attorney Mary E. King to schedule a free consultation to learn more about your legal rights at (941) 906-7585. June 16, 2010 by Mary E King Florida Tax Attorney...

Can You Really Pay the IRS Pennies on the Dollar?

Mary E. King — Tue, 27 Sep 2011 23:45:43 -0600

Is it really possible to pay the IRS “pennies on the dollar” and have the rest of your tax bill forgiven? Yes – it is possible…but it’s not very likely. It’s called an Offer-In-Compromise - and it used to be the only legitimate way to negotiate an actual lowering of the amount of taxes owed to the IRS by a taxpayer…sometimes far less. However, since the IRS has seen so much “abuse” of this particular method of tax relief in recent years, they have shown by their actions that they are less and less apt to accept an Offer-In-Compromise. In a press release dated October 2004, the IRS stated “This program serves an important purpose. But we do warn taxpayers to watch out for unscrupulous promoters charging excessive fees to taxpayers who have no chance of meeting the program’s requirements,” said IRS Commissioner Mark W. Everson. “Taxpayers should not be duped by high-priced promises.” In fact, as of 2006, the IRS now rejects 85% of all Offers-in-Compromise. Although an Offer-In-Compromise is one option for paying off IRS debt, it may not be the right option for you. There’s no sense in pursuing this payment option with 15% success rate if there’s little hope that it will be accepted. In fact, if you choose to hire a lawyer to represent you before the IRS, it’s critical that he is looking out for you and only wants the best outcome for your case. Since the IRS only accepts 15% of Offers-In-Compromise, any good lawyer representing you must have a full knowledge of all other options available through the IRS. Plus, they would need to be able to thoroughly examine your case before they ever made a suggestion of the best action to take. Aside from the Offer-In-Compromise, there is also the Partial Payment Installment Agreement (PPIA). This is a form of payment that may allow you to pay off your taxes and have part of the debt forgiven. With this method, the IRS considers how much you owe before the 10-year statute of limitations runs out. Legally, a tax professional can represent you to the IRS even if they live thousands of miles away from you. But is that what you want when you’re dealing with something as stressful as an IRS problem? Or would you rather have someone who you can speak with face-to-face…who lives in your city…who has a reputation to uphold in your community? If you would like to meet with a local Sarasota IRS problem solving attorney, please call Tax Attorney Mary E. King at (941) 906-7585 for a personalized consultation to discuss your situation.

Tax Attorneys Not For The Wealthy Only

Mary E. King — Thu, 03 Jun 2010 23:44:33 -0600

Don’t let false assumptions get you in trouble with the IRS! Sarasota tax attorney, Mary E. King warns that wealthy individuals or large corporations aren’t the only ones that need experienced tax IRS attorneys. There are any number of situations a taxpayer may be involved with, in a given calendar year, that demand the expertise of a tax attorney. Seeking the services of a tax attorney is not something an individual needs only when they are preparing their yearly returns. Other scenarios, for which an experienced tax attorney can be vitally helpful, but which are often overlooked, are instances in which someone has a taxable estate or is involved with a business. For instance, tax attorneys can be invaluable for those who have started small businesses and need insight on tax structures. And, tax attorneys can also give advice on matters such as quarterly filings to make sure that a taxpayer is not hit with fines and penalties because they have not filed their returns properly or at the right time. IRS tax attorneys can also make a difference in helping those who are being investigated by the IRS for previous returns or non-filing of returns. Clearly, it is a false assumption to think that tax attorneys are only needed if an individual or business is being investigated by the IRS. In conclusion, it’s prudent for an individual and for businesses to consult with tax attorneys, because many situations can arise throughout the year that require expert tax advice.

Prepare for Back Taxes by Using An Expert

Mary E. King — Tue, 27 Sep 2011 23:44:22 -0600

Paying back IRS taxes may cost Florida federal taxpayers more than they realize as a result of IRS fees and tax penalties, interest and other factors, according to Sarasota Florida tax attorney Mary E. King. It’s important taxpayers not only realize that improperly dealing with their IRS tax burdens can cause them more than they might have initially paid the Internal Revenue Service (IRS), but also understand how tax attorneys can help ease their tax burden. A taxpayer who thinks they can escape the wrath of the IRS by simply paying taxes on a few items they neglected is likely to be in for a very unpleasant surprise. That’s because there are a series of items the IRS can go after that can create a nightmare scenario where taxpayers are concerned. Taxpayers who do not know the best solutions in dealing with the IRS can be putting themselves at further risk. She said paying all taxes due to the IRS on time is the best way to prevent the accumulation of tax penalties and interests, thus avoiding IRS tax problems in the first place. But she adds that a skilled IRS tax attorney is invaluable when it comes to sharing their expertise about other issues that include:

The inability to pay taxes by April 15th, with attorneys available to provide information about how to deal with the situation
Understanding the options in paying tax penalties and interest imposed by the IRS
How tax liens can negatively impact a taxpayer’s financial situation and hurt their ability to secure loans, jobs or credit in the future

The danger or levies imposed on a taxpayer
Steps to take in cases of audits by the IRS

Attorney Mary E. King advises taxpayers about the best action to take in dealing with the IRS when it comes to back taxes. She added they can also help them avoid not paying them more than they have to, but also stress by identifying options that will make paying down their IRS tax debt easier.

The #1 Fear About the IRS That's Not True

Mary E. King — Tue, 27 Sep 2011 23:43:02 -0600

When I counsel people dealing with IRS problems, I usually end up asking the one big nagging question ...“Why did you wait so long to do something about this?” Here’s the usual reply: “I thought I would end up going to jail.” Let’s go ahead and get something straight about the IRS and prison time… “If You’ve Accurately Filed Your Taxes You Cannot Get Sent to Jail.” If you’ve accurately filed your taxes, but you just haven’t paid them, you cannot get sent to jail. Owing the IRS money is not considered a crime. However…Don’t be in a hurry to celebrate…By not taking action and facing your IRS debt problem, you could face any or all of the following severe consequences: *Wage garnishment *Seizure of your real estate *Seizure of Social Security benefits *Seizure of 401(k)’s, IRA’s *Seizure of Cars/Boats/Houses *Seizure of Accounts Receivable *Seizure of Cash Loan Value of Your Life Insurance *Seizure of Commissions Owed to You If you’ve filed your taxes accurately, but you just can’t pay them…there is hope for you. There are six different ways available to pay your debt to the IRS and avoid the particularly nasty consequences mentioned above. “You Can Go to Jail if You Haven’t Filed Your Taxes > OR < If You’ve Filed Your Taxes Inaccurately” Not filing your taxes is considered a crime by the IRS. You can receive one year of prison time for each year that you don’t file. Procrastinating only makes your chances of doing jail time that much worse. The IRS doesn’t take kindly to those it has to “chase down”. …And they will eventually chase you down, trust me. It doesn’t matter if it’s been a few years and it seems like you’ve somehow “slipped through the cracks.” You haven’t. Don’t believe that you can somehow get off “footloose and fancy-free” if you haven’t filed your taxes. Slipping through the cracks just doesn’t happen. However, the more willing you are to face up to your problem and seek a solution, the more likely it is that the IRS won’t even threaten prosecution. Why go through life being paranoid, looking over your shoulder, wondering when the IRS is going to jump out from the bushes and finally “call in your chips?” Life’s too short to live this way. Even if it’s been years since you’ve filed, you can get the IRS “monkey” off your back, once and for all…even if you feel your situation is hopeless. However, in this situation, it’s a very bad idea to go it alone without legal help. Chances are good if you waltz into an IRS office and try to work out a “deal”, you’ll say something that you may regret later. Nor is it a good idea to use an accountant to represent you to the IRS. Accountants are trained to balance books…not necessarily to deal with IRS problems. If you have an IRS problem, call attorney Mary E. King at (941) 906-7585 for a Free Consultation.

Who Would You Rather Owe...The IRS...Or a Credit Card Company?

Mary E. King — Tue, 27 Sep 2011 23:42:07 -0600

I don’t know your financial situation personally, but I would venture a guess that if you have problems paying the IRS…that you may have credit card debt problems as well. So I certainly don’t mean to throw “fuel on the fire” of a debt problem by making the following suggestion, but I’ll throw it out there as an option and only you’ll know if it is a legitimate option for you. Did you know that the IRS accepts Visa, Mastercard & American Express? With credit cards, according to the IRS website “you can pay current and past due Form 1040 balances along with current year Form 940 balances and current quarter plus the three prior quarters Form 941 balances.” You may be thinking “isn’t paying the IRS with a credit card like robbing Peter to pay Paul?” Not exactly. First, you’re not “robbing Peter” in this scenario. If you’ve been extended enough credit by your credit card company to pay off your IRS bill, it’s apparently because you have a good enough credit rating to justify the credit card company’s risk that you’ll pay the money back. Now this is assuming that you tell the truth on your credit card application. Remember…lying on a credit application is a criminal offense…don’t do it. Now I’m not suggesting that you don’t pay your credit card bill. But if you’re unable to make your credit card payments, there are legal limits to what the credit card companies can do to get you to pay the money. And “Paul” in this scenario (the IRS) has much more power than “Peter” (the credit card companies) does to get “his” money. Think of it this way…a credit card company has nowhere near the power of the IRS to collect their money. Not only can the IRS take your wages, but they can also take things like your real estate, Social Security, 401(k)’s, IRA’s, car, boat, house, accounts receivable, cash loan value of your life insurance, or commissions…to name just a few. The IRS can also put a lien on your personal and investment properties, making it difficult to sell your house, destroy your credit rating and make it difficult to refinance or get a home equity loan. Of course, the “big hammer” of the IRS is that they can actually send you to prison for not filing your taxes. If you have an IRS problem, call Attorney Mary E. King to discuss your options at (941) 906-7585. Tax Attorney Mary E. King advises taxpayers about the best action to take in dealing with the IRS when it comes to back taxes. She added they can also help them avoid not only paying them more than they have to, but also stress by identifying options that will make paying down their burden easier.

The Evidence Is Now Out There. Congressman Hints at Additional Taxes to Reduce Deficit

Mary E. King — Tue, 20 Apr 2010 23:39:52 -0600

It is expected that the IRS will be more thorough in reviewing tax returns this year. It’s been rumored that tax increases will be necessary to reduce the budget deficit, but now Washington leaders are coming out and saying it. Rep. Steny Hoyer(D-MD) said at the first of this month that increasing taxes to reduce the budget may be, “the only solution.” Hoyer also said a balanced approach is needed that “raises some revenue.” As a result, American taxpayers will be expected to fork out more of what they earn, both during the years of the current recession and when it comes to filing their annual returns for years to come. The Internal Revenue Service (IRS) will be even more aggressive in checking to make sure the United States Government gets every penny owed to it. The increased diligence that the IRS will employ in reviewing returns means that taxpayers will have to assure they are knowledgeable about the money that may be owed to the government. That’s why consulting with a IRS tax attorney is important when preparing returns and in the event that taxpayers are audited to avoid costly IRS tax problems. April 20, 2010 by Mary E King Florida Tax Attorney

No More Refund Anticipation Loans

Mary E. King — Tue, 27 Sep 2011 23:39:40 -0600

No More Refund Anticipation Loans IRS Wipes Out the “Quickie Tax Loan” Business with New Ruling

IRS Spokesman David Stell declared that the agency shall no longer release “debt indicators” of taxpayers to tax preparation services. Debt indicators released by the IRS are those that indicate whether the taxpayer will receive any tax refund, and if that refund would be offset by payment of delinquent taxes, student loans or child support. Tax preparers and payday loans companies use this information to process Refund Anticipation Loan (RAL) or RAC (Refund Anticipation Checks). The usual target market for the loans are taxpayers in the lower-income bracket. Tax preparers take advantage of these individual’s need to get hold of cash quickly to process such loans. Both refund anticipation loans and refund anticipation checks are being used by taxpayers so that instead of having out-of-pocket payments, the tax preparation fees and products are paid for. The target of such loans and checks are those who have no cash-at-hand to pay for services done under tax preparation. However, according to IRS Commissioner Doug Shulman, the reason behind the non-release of debt indicators in the next tax filing season is that tax returns and refunds can now be processed in just 10 days. Because the processing has become faster, taxpayers are instead encouraged to use ‘direct-deposit’ e-file since getting refunds is now just a matter of days. Any taxpayer has access to his own offsets and tax refund information online via the “Where’s my Refund?” tool, available through the IRS.gov website. The IRS will continue studying the issue of refund settlement products throughout the 2011 tax filing season for 2012, including considering new methods for low income tax payers to pay for professional tax preparation services. Florida Tax Attorney Mary E. King advises taxpayers about the best action to take in dealing with the IRS when it comes to back taxes. She added they can also help them avoid not only paying them more than they have to, but also stress by identifying options that will make paying down their burden easier.

CAN I GO TO PRISON FOR FAILING TO FILE OR PAY MY TAXES?

Mary E. King — Tue, 27 Sep 2011 23:38:59 -0600

I hear varieties of this question frequently in my office. In this week’s blog, I have taken two examples from newspaper articles of examples of individuals who violated different sections of the tax code and unfortunately ended up in prison. Former Wisconsin Restaurant Owner Receives Prison Term for Evading Income Taxes On February 27, 2008, in Madison, Wis., Sabi Atteyih was sentenced to 12 months plus one day in prison, to be followed by a three year term of supervised release for income tax evasion. On January 2, 2008, Atteyih pleaded guilty to evading his income taxes for 2002. While owning the Casbah Restaurant in Madison, Atteyih underreported his taxable income from the restaurant from 2002 through 2005 by $349,673 and he evaded income taxes totaling $128,938. Minnesota Woman Sentenced for Failing to Pay Employment Taxes On April 20, 2009, in St. Paul, Minn., Kara Kristine Sommer, of Burnsville, Minn., was sentenced to 18 months in prison and three years of supervised release for failing to pay the Internal Revenue Service (IRS) payroll taxes from employees of a construction business. According to her plea agreement, Sommer admitted withholding or causing to be withheld amounts for federal income taxes and Federal Insurance Contributions Act (FICA) taxes from the wages of employees of Frontier Construction, Inc., located in Burnsville, from April 1, 2002, through Sept. 30, 2006. Sommer was responsible for accounting, payroll management and income taxes for Frontier Construction. Her duties included withholding federal payroll taxes from employee paychecks and paying over the withheld taxes to the IRS. From April 1, 2002, to September 30, 2006, Sommer deducted and collected federal income taxes and FICA taxes from the taxable wages of Frontier employees. Sommer admitted that during the tax years of 2001 through 2005, she willfully failed to account for and to pay over to the IRS a total amount of taxes of nearly $200,000. If you see yourself in either of these articles, please give Tax Attorney Mary E. King a call at (941) 906-7585 to discuss your situation. I will be happy to meet with you in confidence.

Even Millionaires Collected Unemployment Benefits Last Year

Mary E. King — Tue, 27 Sep 2011 23:38:13 -0600

IRS Releases Data That Shows Nearly 3000 Millionaires Collected Unemployment In 2008

The IRS has recently released data concerning unemployment insurance claims in 2008 and the data revealed that benefits were collected by nearly 3000 individuals who are considered millionaires. Of those 3000, 806 made over 2 million and 17 made over 10 million. How is this possible you may ask? The fact is, unemployment is an insurance program that employers contribute to, it is not a welfare program based on need. So, regardless of your income level, if you have lost your job and your employer paid insurance benefits, you are entitled to make a claim. It is hard to think that a person making 10 million dollars a year would bother with a $300 a week check, but every penny counts when you are unemployed. While this may seem outrageous, these numbers are really nothing compared to the actual number of people that filed for unemployment insurance in 2008. The actual number released from the IRS has shown that a total of 9.5 million individuals made claims during the year; an astounding figure. These numbers are much higher than those in 2007. The IRS even refused to publish the amount of millionaires filling for claims in 2007 because the number was so low that identities could be discerned from the figures. The figures from 2009 are still being calculated. The IRS has also stated that these figures are related to households and not necessarily the millionaire earner. As an example, a millionaire CEO who has a wife that is laid off from her teaching position. The millionaire is not collecting benefits, instead his wife is, but the household will reflect that the benefits were collected. All in all, these figures are a good reflection of what is really going on in the economy. If you are having IRS tax issues as a result of being unemployed, please feel free to contact Tax Attorney Mary E. King at (941) 906-7585 to discuss ways to resolve these issues.

New Offer In Compromise Tax Reduction Settlement Program

Mary E. King — Tue, 27 Sep 2011 23:36:40 -0600

Over the years as I have been representing clients who have IRS problems, the IRS has been strict in its official requirements for accepting an Offer in Compromise (OIC). However, over the past year, with the downturn in the economy, the IRS has relaxed its unofficial position on its requirements for accepting an OIC, as well as other tax debt settlement options. Therefore, I have seen more taxpayer clients who have been able to qualify for an Offer in Compromise. Generally speaking, an Offer in Compromise is where the IRS accepts less money than the taxpayer owes to settle their outstanding liability with the IRS. The IRS will only accept an OIC when all other tax collection alternatives have been exhausted. Other IRS tax collection alternatives may be a short extension of time to pay, an installment agreement (making monthly payments until the debt is paid in full), full payment of the debt or hardship status. Hardship status is where the taxpayer is unable to pay anything against their tax liability at the present time. It is usually a temporary solution due to unemployment or illness. Finally, a taxpayer may qualify for a bankruptcy discharge of the tax liability. When the IRS considers an OIC, it is looking at the taxpayer’s Reasonable Collection Potential (RCP). The RCP is how the IRS determines whether or not a taxpayer has an ability to pay his tax liability in full. The RCP is based on the taxpayer’s assets such as real property, automobiles, bank accounts and any other assets. In order to come up with the total RCP, the IRS adds the taxpayer’s future anticipated income and then deducts any allowable expenses. Please note that I stated allowable expenses. The IRS has certain allowable expense standards and any expenses which are in excess of those standards must be proven to be necessary before the IRS will accept them. There are three (3) categories of OIC’s: Doubt as to Collectibility; Doubt as to Liability; and Effective Tax Administration. Doubt as to Collectibility means that the IRS believes that it will not be able to collect the full amount of the tax owed based on the taxpayers ability to pay. Doubt as to Liability means that there is a legitimate doubt that the taxpayer owes the amount the IRS has assessed to the taxpayer. Effective Tax Administration is where although there is no doubt that the taxpayer owes the taxes and the taxpayer could pay the taxes, exceptional circumstances exist which allow the IRS to waive the amount due when the taxpayer demonstrates that it would create an economic hardship. As I indicated earlier in this article, the IRS does appear to be trying to help struggling taxpayers in these difficult economic times. In fact, it appears that the IRS is even trying to look out for taxpayer’s FICO scores. Traditionally, the IRS did not care about what their tax debt collection efforts have done to taxpayers, their credit reports, their ability to borrow or their business reputations with their customers or vendors. However, in these difficult economic times, many individuals have trouble paying their monthly bills and most businesses are barely keeping afloat. As a result, the IRS is now taking a more friendly approach. Instead of immediately filing tax liens, the minimum amount before a tax lien will be filed will now be $10,000. That amount will also be negotiable. Tax liens will also be withdrawn if a taxpayer enters into an installment agreement when he owes $25,000 or less. This is AMAZING! Taxpayers who have been making their payments on a regular basis can also request that their liens be removed. It is unheard of for the IRS to withdraw a Federal Tax lien without a tax debt being paid off in full. Additionally, the IRS is making it easier for small businesses to obtain Installment Agreements in order to pay off corporate or payroll tax debt. Finally, the IRS is making OIC’s more accessible to taxpayers. A new streamlined Offer in Compromise program is now in place, where taxpayer’s who owe less than $50,000 and have incomes of $100,000 may qualify. The previous streamlined Offer in Compromise program was limited to taxpayer’s who owed less than $25,000. However, the current RCP standards are still in place. A second OIC program for taxpayer’s who are recently unemployed, gives the IRS the option to consider only the taxpayer’s current income (if any) and future earning potential. Generally, with an OIC, the IRS must consider the taxpayer’s previous income as well. This gives the IRS greater flexibility in deciding whether or not to accept an OIC and will theoretically open up the number of OIC’s accepted to a greater number of taxpayers. Finally, the IRS may accelerate lien relief for taxpayer’s who need to refinance or sell their homes. For example, in the past it usually took in excess of 45 days for a tax lien to be released. Now the time frame is much shorter. Alternatively, in certain circumstances, the IRS will make the tax lien secondary to the primary lender in order for the taxpayer to be able to refinance or sell their home for less than the amount of the mortgage. As you can see, the IRS is making significant efforts to assist taxpayer’s in these difficult economic times. Whether it is making OIC’s easier to qualify for or withdrawing tax liens, the IRS is trying to help taxpayer’s and not make their experience so painful. If you have a client that has a Federal tax issue, that client needs to address the issue immediately. Unfortunately, procrastinating only makes the problem worse. I am happy to meet with tax clients for a complimentary initial consultation to discuss their options. Mary E. King is a Florida Tax attorney with the Law Office of Mary E. King, P.L. in downtown Sarasota. She practices in the areas of IRS Problem Solving, Mortgage Foreclosure Defense, Estate Planning and Probate. She can be reached at (941) 906-7585.

Sarasota, Florida Tax Attorney: Keeping Tax Records the Right Way

Mary E. King — Tue, 27 Sep 2011 23:36:02 -0600

Men are governed by laws not by men. Moreover, almost every aspect of your life is invaded by the laws of the land. From the disposition your properties, to the expected norms in the society and eventually to the manner of paying tax contributions, no one is considered above the law. For that reason, there are things that you need to comply and consider in order to adhere to what the law expects of you. Tax laws may seem complicated depending on the state you are in. Sarasota, Florida tax attorneys may have different legal advice compared to a tax attorney in Mexico. This is because the tax system of different states is diverse. Tax law, which is a codified system of laws that covers government levies on certain business or economic transaction, imposes taxes. These taxes are delivered back to taxpayers by way of government projects. If you failed to do your duty as a taxpayer, you will be punished. Tax law is a sub-discipline in law schools. They are consultative in nature however; they can be used in litigation purposes. Tax law is crucial in business as well as personal planning matters. If you are facing an Internal Revenue Services (IRS) trouble, you need a Sarasota, Florida tax attorney to assist and defend you. Tax laws demand that you keep tax records for the government to check. Records can also serve as proof of your compliance with the tax laws. Nonetheless, many taxpayers have no idea about what records to keep and how long to keep them. By tax records, it means tax returns and several documents that support your returns like bank statements, receipts, 1099s, and more. These documents are important to fend off the IRS. Your tax attorney will tell you what these records are and how important they are. However, to make it easy for you, here is a quick review: Tax returns contain the tax contribution that a taxpayer has to pay. They serve as a good proof that you have paid your taxes moreover; they have to be kept indefinitely. IRS is known for misplacing and losing tax returns so be sure that yours come in handy to circumvent a nasty audit. IRS is receiving millions of tax returns every three months moreover; lost returns can be said to be part of the inevitable. Hence, it is better to keep every single tax return that comes into your possession. If you are filing your tax returns electronically, better get copies from the filing company. By the way, they are required by law to give you copies. Supporting documents, on the other hand, should be kept for a period of 6 years from the filing of the returns. However, this period can be extended in special cases. Tax records are vital in case of divorce proceedings. Moreover, it is best to save the necessary documents like financial documents, tax returns, supporting documents, and credit reports, not just for divorce purposes but for other circumstances as well. If you don't keep it, anticipate encountering a nightmarish chapter in your life. If you intend to keep your tax records in one place for easy find, you can purchase a filing cabinet for that purpose. If you are lucky enough, you will never need your tax records. However, if you belong to the unlucky few who are audited, tax records will be your saving grace to prove your compliance to tax laws.

Was Your Tax Lien Waived?

Mary E. King — Tue, 27 Sep 2011 23:29:57 -0600

According to a new report by the Treasury Inspector General, the IRS has waived essentially $1.4 billion in delinquent taxes between 2002 and 2008 by failing to file federal tax liens. In order to protect its claims against delinquent taxpayers, the IRS must file a federal tax lien, which establishes the IRS’ priority among other creditors. However, in certain cases, the IRS can decide not to file a tax lien. When the IRS agent decides not to file a tax lien, they must document the taxpayer’s file to state the basis for their decision not to file the tax lien. According to this report, the IRS agents did not document the rationale for not filing liens for an estimated 2297 taxpayers who owed $72 million in delinquent taxes. The report also found that the IRS did not file liens on closed taxpayer accounts based upon a certain dollar amount. This certain dollar amount represented taxpayer’s whose accounts were closed based upon being currently noncollectible for tax years 2002 through 2008. These taxpayers were unable to pay anything on their accounts and consequently, the IRS did not conduct any collection activity on their accounts. As a result of this report, the Treasury Inspector General has made eight recommendations to ensure that in the future all IRS agents document their reasons for not filing tax liens against delinquent taxpayers. If you are concerned about outstanding taxes due to the IRS, please call Florida tax attorney Mary E. King at (941) 906-7585 to discuss your options.

Why You Shouldn’t Be Comfortable With “Just a Tax Lien”

Mary E. King — Tue, 27 Sep 2011 23:26:07 -0600

Have you developed a false sense of security? Maybe the IRS placed a lien against your property as a “warning shot across the bow”, but you haven’t responded. Sure, the tax lien can ruin your credit and make it virtually impossible to sell your house, but it doesn’t necessarily put a damper on your day-to-day finances. Besides, the fact is – a tax lien doesn’t necessarily give the IRS what they really want…the tax money you owe them. That’s when they start getting nasty…If you’ve been notified by the IRS either over the phone or by mail that you owe them, that’s all the warning you get. The IRS can take your money if you don’t give it to them voluntarily. If after contact, you don’t pay them completely and voluntarily - they have the right to take every penny that you owe from them…one way or another. They don’t have to take you to court or sue you to get their money. If they’ve sent the collection notices and you’ve refused to pay or haven’t paid in full – that’s all they need to do. That’s when it can get ugly:

They can dip straight into your bank account and take your money
They can garnish your wages or salary
They can take your social security, 401(k) or IRA’s
They can take any money owed to you – like accounts receivable or sales commissions

Plus, they can seize your property:

Cars / Boats / Motorcycles / Homes / Vacation Property / Investment Property

They’ll do it too. Consider this… from 2005 to 2006, levies increased by 36%. If you have an IRS issue and would like to discuss your options, please call tax Attorney Mary E. King at (941) 906-7585.

How Much In IRS Penalties Are You Paying?

Mary E. King — Tue, 27 Sep 2011 23:24:40 -0600

Penalties and interest are adding up by the day if you haven’t paid the IRS what you owe them. And they’re adding up big-time if you haven’t filed at all.

Did You File and Not Pay?

If you did, there’s interest being compounded daily on what you owe, which is the quarterly federal short-term tax rate, plus 3%. As of this writing, the IRS is charging 8% per year. In addition to interest, you’re also being charged a Failure-to-Pay Penalty, which is .5% of the tax owed for each month. There is no maximum for the failure-to-pay penalty. If you’re sent a number of notices from the IRS and you still don’t pay, the penalty increases to 1%.

What You Should Do If You Filed and Didn’t Pay?

The most obvious answer is to pay the tax debt.…it’s better to owe anyone other than the IRS. Why? Because the IRS has more power to collect in ‘mean and nasty’ ways than any collection agency you’ll ever deal with. So what if you just can’t come up with the money? If you just don’t have the money, and you cannot get it, there are legal ways to negotiate with the IRS: Be declared Non-Collectible Status. Have the debt reduced through an Offer-In-Compromise. Set up a monthly installment agreement plan. Set up a partial installment agreement (where you pay less than the total owed). Declare Bankruptcy.

Did You Not File at All?

If you didn’t file taxes this past year (or any other year for that matter), you have bigger problems. You still have the interest that’s being compounded daily on what you owe - the quarterly federal short-term tax rate, plus 3%. But the penalty gets really harsh for non-filers –You pay the .5% late payment penalty plus a 4.5% late filing penalty, for a combined penalty of 5% for the first month your return is late. However, it gets worse: Every month that you don’t file – your penalties double…until 5 months when it caps at 47.5% (22.5% late filing penalty + 25% late payment penalty). 47.5%...Ouch. That’s double what even some of the worst credit cards would charge. If you are ready to address your situation with the IRS, please call Tax Attorney Mary E. King at (941) 906-7585.

What You Never Want To Have In Common With Jennifer Lopez

Mary E. King — Tue, 27 Sep 2011 23:23:33 -0600

Do you owe back taxes? If so, realize that you’re not alone.

Even the world’s richest and most popular people owe back taxes, too. And the IRS will get their money, regardless of who you are. Just ask Jennifer Lopez.

Here’s what El Pais, the most widely read newspaper in Spain, had to say in 2007 about singer Marc Anthony, husband of singer/actress Jennifer Lopez: “At least three companies he owns have not paid their taxes correctly and have been told to pay $2.5 million to the state and city of New York. They will also have to pay an additional $180,000 in fines.” So much for anyone being “above the law”. The IRS usually gets their man, eventually (even if he spends a lot of time walking down the red carpet…). What Are Back Taxes, And Why Should You Worry About Them. Back taxes are simply taxes that you owe that you didn’t pay when they were due. If you’ve underpaid taxes for any reason, the balance that you owe is considered back tax. You may have failed to report taxable income (intentionally or unintentionally, it doesn’t matter) - as the IRS sees it…you still owe them money in the form of a back tax. Some people don’t have the money when the tax bill comes around, so they just don’t pay. They may plan on paying the money when they’re able…but that time never seems to come around. If nothing seems to happen or they don’t get ‘caught’, some people start believing that they’ve somehow slipped under the radar of the IRS and that they’re getting away with it. They’re not. In fact it might take years for the IRS to come after you. How Do You Know, Your Back Tax Problem Is Getting Serious? Here’s how it happens: -You’ll get sent a Notice and Demand for Payment from the IRS. -You either pay or don’t pay the tax. -If you don’t pay, you’ll be sent a Final Notice of Intent to Levy and Notice of Your Right to a Hearing at least 30 days before the levy. That’s when you know you’ve got big problems. That means in 30 days, the IRS is going to start helping themselves to the money in your bank account. If you’ve received a Final Notice of Intent to Levy, you need to take action immediately. Even If You Haven’t Been Notified Yet … You Will. If you owe back taxes, even if you haven’t received your first Notice and Demand for Payment from the IRS, eventually you will. And the worst part is that there are interest and penalties that are adding up everyday that you don’t pay. Ignoring the problem makes it worse…by the day. If you have a problem with back taxes or unfiled tax returns, please call Tax Attorney Mary E. King at (941) 906-7585 for an appointment to discuss your issue.

Checking Your Credit Score Can Alert You to IRS Problems

Mary E. King — Tue, 27 Sep 2011 23:20:39 -0600

If the IRS places a claim on your property as a tax lien, it shows up on your credit report and can greatly damage your credit score Florida IRS Tax Attorney Mary E. King advises. The worst part is that you may not even be aware of the tax lien until you go apply for a credit card, car loan, home equity loan or to refinance. By that point lenders are hesitant to loan you any money. Plus, an IRS tax lien may make it very difficult to sell your house. A buyer will be reluctant to buy since the IRS lien comes with the property and becomes his problem if you don’t take care of it Attorney King adds. If you receive a “Notice & Demand of Payment” from the IRS and you don’t pay the tax bill, you have 10 days before the IRS can begin the process of placing a lien on your property. If you don’t respond to the “Notice & Demand of Payment”, the countdown to a lien begins. You must act quickly. Realize this - a lien is just the beginning before even nastier IRS tactics begin, like wage garnishment and property seizure. Your IRS tax troubles may have just begun if you’ve received a “Notice & Demand of Payment.” Attorney Mary E. King states these are the types of tax problems that she helps clients with on a daily basis. If you would like to meet with Mary, please contact her at the Law Office of Mary King P.L. in Sarasota Florida. (941) 906-7585.

Whats the Minimum You Can Live On?

Mary E. King — Tue, 27 Sep 2011 23:19:42 -0600

How much money do you need every week to survive? … if you owe unpaid taxes to the IRS and they garnish your paycheck to get their money, I hope your answer to that question is “not much”… Are you single with 2 kids (exemptions)? I hope you can live on $299.04* per week…because that’s all the IRS is going to leave in your paycheck if they garnish your wages! No kids (exemptions) to claim? The IRS will leave a whopping $168.27* in your weekly paycheck…and take the rest. See IRS Publication 1494, Table of Figuring Amount Exempt from Levy on Wages, Salary and Other Income (Forms 668?W(c)(DO) and 668?W(c)), to determine the amount of earned income exempt from levy. I could go on and on, but I think you see my point. The IRS has already conveniently “pre-decided” how much money they will leave in your paycheck…they have a nifty little table that conveniently tells you how much you get to keep. Of course, this doesn’t take into consideration the least bit how much you need every week to pay your mortgage, your car payment, groceries or any of life’s other necessities. They’ve already figured how much they’re going to leave you and it’s up to you to figure out how to live on it. Sound Like a Recipe for Financial Disaster? You Bet. I look at these numbers and I’m just blown away. How is a person with a mortgage payment of $750 a month supposed to live on $168.27 a week? That’s only $673.08 per month…? As you can see, wage garnishments could be financially devastating for just about anyone. Plus, you don’t want the IRS notifying your employer that they will be taking a chunk of your money every week, do you? Sounds more than a little embarrassing, doesn’t it? A Nightmare Scenario… Say you earn $1000/week, and you’re single with no kids. You owe the IRS $20,000 in back taxes. The IRS comes in and takes $831.73 per week from your paycheck, leaving you a whopping $168.27 to live on. At this rate, it would take 6 months to pay off your $20,000 debt (actually longer that this, since I haven’t included penalties and interest). Can you live on $168.27 a week for 6 months? Could you pay your house payment? Your car payment? How to Get Rid Of a Garnishment. If you suspect that the IRS is about to start “clipping your paycheck” and leaving you without a livable wage, it’s time to take action and stop it while you still can. Call Florida Tax Lawyer Mary E. King at (941) 906-7585 to discuss you options and take control before the IRS does!

Are You Non Collectible To The IRS?

Mary E. King — Tue, 27 Sep 2011 23:19:13 -0600

Are You Non-Collectible To The IRS?

One way to get out of IRS debt is to be declared “Currently Non-Collectible” (CNC) by the IRS. Note the term “Currently”…As the name implies, Currently Non-Collectible means that the IRS considers that your current financial situation makes it impossible for you to pay your taxes and they determine that they cannot collect the money from you…at least not for now. So, in other words, being declared CNC is a potential short-term fix to your IRS problem. But, in the end, you may still have to pay the taxes you owe (plus penalties and interest) once you start making more money. The interesting thing about being declared Currently Non-Collectible is that can last indefinitely. If the IRS monitors your future W-2’s and sees that your income has not increased by 15%-20%, your Non-Collectible Status stays “current”. The IRS usually gives you some breathing room and reevaluates your situation after 12-18 months. If by that time you’re showing positive cash flow, you may be put on a payment plan. However, if you are declared CNC, it doesn’t get you off the hook for paying your taxes in future years. In other words, if you’re declared to be Currently Non-Collectible for the taxes due for years 2005-2007, you will still owe the taxes due for the years 2008, 2009 and so on. In fact, you must pay these future taxes in full and on time or you’ll blow it big time. If you neglect to pay your taxes for future years, or worse – you don’t file…the whole CNC deal is off. If this happens, the IRS will come after all of the money you owe them, and they may use garnishments, levies, seizures, liens and all of the “nasty” tactics at their disposal to get their money. If you’re thinking “man, that sounds like it’s for me...” don’t rush to the phone to call the IRS just yet. You see, what you list to the IRS as being “ordinary and necessary living expenses” - causing you not to be able to pay…may not be same as what the IRS considers “ordinary and necessary”. And guess who has the last word? The IRS, of course. Your financial situation will be put under tight scrutiny. Some of the expenses that you consider to be “ordinary and necessary” won’t fit the IRS definition of ordinary and necessary at all and will be rejected altogether, such as your morning Starbucks. Now you’re on the hook for a monthly payment that you can’t afford…but the IRS “thinks” that you can. Not a good situation to be in. If you have questions about your IRS situation, please contact tax attorney Mary E. King at (941) 906-7585.

Renting Your Spare Room may NOT be the Answer!

Mary E. King — Tue, 27 Sep 2011 23:18:33 -0600

Renting out Your Spare Room to Cover Your Bills May NOT be the Answer!

The current housing crisis means that many homeowners are considering renting their properties as an alternative to selling, or even renting out spare rooms to help meet their mortgage payments. But homeowners desperate for additional income in these tough economic times may find themselves in trouble with the Internal Revenue Service (IRS) when it comes to renting property. Leasing one’s home (or a portion of it) to meet mortgage obligations can lead to disaster with the Internal Revenue Service (IRS) if any money collected as rent is not reported as income. The IRS has a series of guidelines that have to be met when it comes to paying taxes on rental income and failing to properly report them. This can lead to complications that include fines, interest, and possible garnishment of wages to collect the unpaid taxes. Anyone who rents or leases property for more than 14 days is subject to paying taxes to the IRS. Add to the equation the fact that there are different rules on IRS tax liability based on how the property is rented and it becomes obvious that homeowners should seek the advice of an expert to prevent trouble with the IRS. Obviously, in some cases renting property can result in a tax liability to the IRS that results in greater financial problems than before a homeowner considered leasing. Among the different IRS tax rules that apply to rental property income are:

Whether the property is used both for personal and rental purposes
Whether the residence is being rented strictly for profit as opposed to assisting the homeowner in paying a mortgage

If you have questions about this or any other IRS tax related issue, please contact Florida Tax Attorney Mary E. King for your free, confidential IRS tax help consultation.

Even Stars are at risk for tax evasion

Mary E. King — Tue, 27 Sep 2011 23:17:11 -0600

Last week, lawyers for actor Wesley Snipes were in federal court in Ocala defending him on charges of tax evasion. The lawyers have argued that Snipes did not receive a fair trial due to jurors who had made up their minds about his guilt prior to deliberating on the verdict in his 2008 tax evasion case. Snipes had originally been charged with failing pay his taxes from 1998 through 2000 on earnings of approximately $38 million. Since the trial, Snipes has been free on bond. As a general rule, taxpayers cannot go to prison for failing to pay their taxes, unless the IRS finds that they committed tax evasion in the preparation of the income taxes. It is usually only when a taxpayer fails to file their income taxes that they can go to prison for failure to file. Don’t wait until the IRS is knocking on your door! If you have questions about a tax related issue, please call tax attorney Mary E. King to discuss your situation at (941) 906-7585.

Do You Know What You’re Paying In Penalties?

Mary E. King — Tue, 27 Sep 2011 23:16:10 -0600

Penalties and interest add up by the day if you haven’t paid the IRS what you owe them. And they add up big-time if you haven’t filed at all. Every day that you put off taking care of your IRS problem only makes it worse. Did You File and Not Pay? If you did, there’s interest being compounded daily on what you owe, which is the quarterly federal short-term tax rate, plus 3%. As of this writing, the IRS is charging 4% per year. In addition to interest, you’re also being charged a Failure-to-Pay Penalty, which is .5% of the tax owed for each month. There is no maximum for the failure-to-pay penalty. If you’re sent a number of notices from the IRS and you still don’t pay, the penalty increases to 1%. What You Should Do If You Filed and Didn’t Pay? The most obvious answer is to pay the debt. The IRS has more power to collect in ‘mean and nasty’ ways than any collection agency you’ll ever deal with. So what if you just can’t come up with the money? If you just don’t have the money, and you cannot get it, there are legal ways to negotiate with the IRS:

Be declared Non-Collectible Status
Have the debt reduced through an Offer-In-Compromise
Set up a monthly installment agreement plan
Set up a partial installment agreement (where you pay less than the total owed)
Declare Bankruptcy

Did You Not File at All? If you didn’t file taxes this past year (or any other year for that matter), you have bigger problems. You still have the interest that’s being compounded daily on what you owe - the quarterly federal short-term tax rate, plus 3%. As of this writing, the IRS is charging 4% per year. But the penalty gets really harsh for non-filers. You pay the .5% late payment penalty plus a 4.5% late filing penalty, for a combined penalty of 5% for the first month your return is late. However, it gets worse: Every month that you don’t file – your penalties double…until 5 months when it caps at 47.5% (22.5% late filing penalty + 25% late payment penalty). 47.5%...Ouch. That’s double what even some of the worst credit cards would charge. What You Should Do If You Haven’t Filed? By all means, file your taxes…even if you can’t afford to pay the tax that’s due. By filing your taxes and not paying them, you’ll at least go from Non-Filing to Non-Paying status. If you don’t file your taxes, you won’t qualify for any of these ways to pay down your debt. You’ll be considered a non-filer, which is against the law and could eventually be punished with jail time if you let it go. If you have questions about your tax matters, please contact Attorney Mary King at (941) 906-7585.

Why the IRS Deals So Harshly With Businesses That Don't Pay Their Payroll Tax

Mary E. King — Tue, 27 Sep 2011 23:14:54 -0600

Why the IRS Deals So Harshly With Businesses That Don’t Pay Their Payroll Tax

Not paying payroll tax is something the IRS considers very serious. As an employer, you are responsible for withholding part of your employees’ wages to pay their: Income tax and FICA (Social Security & Medicare) tax. Since the employees place their trust in you that you are taking this money out of their paycheck and are paying these taxes with their money, they are called "Trust Fund Taxes". However, if for any reason you fail to pay this money - in the eyes of the IRS you have betrayed the “trust” of the employees and you have taken money that does not belong to you. Therefore, the IRS can be particularly aggressive with businesses that don’t pay their payroll tax. If you owe payroll tax, the IRS may exercise their authority to collect by using the Trust Fund Recovery Penalty (TFRP) against you. If it’s determined by the IRS that you are the responsible party for collecting the taxes, and you willfully failed to file them, you will be notified with the plan to assess the TFRP against you. You will then have 60 days to pay the tax or appeal. If you don’t pay the tax or appeal, the IRS may do everything in their power to get the money, which may include the following:

Seize your personal assets
Place a lien against your property or worse…

It’s tough running a business when you owe payroll taxes – like swimming upstream. You have to pay your suppliers - while still coming up with the tax money somehow. You must stay current with current payroll tax while you’re paying the old tax – and you can’t be late with the payments. And through all of this you have to figure out how to not go broke personally. But even though all of this is tough – consider the alternative. If you don’t take action and resolve your problems with the IRS, things can get very ugly. If you have a payroll tax problem or a personal IRS tax problem, please call attorney Mary E. King today, for a free consultation about your problem at (941) 906-7585.

Wage Garnishment Can Be Minimized In Dealing with IRS

Mary E. King — Tue, 27 Sep 2011 23:13:35 -0600

Wage Garnishment Can Be Minimized

Taxpayers beware: The Internal Revenue Service (IRS) will claim any back taxes and fines they determine are due to the agency. Sarasota Florida tax attorney, Mary E. King, warns that the IRS will not hesitate to take money from a taxpayer’s paycheck if they determine that they are due money. Wage garnishments imposed by the IRS can total up to 25 percent of a taxpayer’s earnings for each pay period. In today’s struggling economy, the loss of a quarter of a wage-earner’s salary can have a devastating impact on their budget. Because tax fines tend to snowball, a taxpayer may end up paying more than they anticipated. The impact that those fines can have on wages garnished from their paychecks can be monumental, which is why contacting a tax attorney early is so important. Using a knowledgeable source will not only help prepare a taxpayer for the pain of wage garnishment, but can also work to make sure that the taxpayer only pays the minimum amount that he has to. The average taxpayers is unfamiliar with the labyrinth of tax laws that allows the IRS to garnish a maximum when it comes to an employee’s earnings. That’s why it is essential to retain the services of a professional tax attorney who is equally educated about tax laws. Mary can help in structuring settlements with the IRS that are more client friendly because they will not have such a major impact on a taxpayer’s budget. She also offered one other suggestion about the importance of using a tax attorney and that is she urges those dealing with the IRS not to wait until their problems with the agency become unmanageable. She said waiting too late in selecting a reputable tax attorney may result in increased penalties and fines imposed by the IRS. May 6, 2010 by Mary E King Florida Tax Attorney

What Do These People Have in Common?

Mary E. King — Tue, 27 Sep 2011 23:11:57 -0600

Here’s a Quick Quiz……What do these people have in common: Chuck Berry, Ron Isley (of the Isley Brothers), Richard Hatch (of “Survivor” fame), Heidi Fleiss, Sophia Loren, Martha Stewart. If you answered: “they’re all celebrities.” Well, that’s partially right. If you guessed: “they’re all celebrities who went to jail on tax evasion charges.” You guessed right! Do you know when the IRS has the option of sending you to jail? One of the first things that people ask me after I hear what their IRS problems is…“Well…what do you think? Is the IRS going to send me to jail?” That’s an easy question, really. Because the answer only really has two criteria: Did you file your taxes…or did you not file your taxes? If you've accurately filed your taxes you cannot get sent to jail. If you've accurately filed your taxes, but you just haven't paid the tax, you cannot get sent to jail. Owing the IRS money is not considered a crime. But don't break out the bubbly just yet...Although jail time is arguably the worst thing that can happen, it's not the only 'punishment' from the IRS that you should be wary of. By not taking action and facing your IRS debt problem, you could be looking into the ugly eyes of...*Wage garnishment * Seizure of your real estate * Seizure of Social Security benefits * Seizure of 401(k)'s, IRA's, * Seizure of Cars / Boats / Houses * Seizure of Accounts Receivable * Seizure of Cash Loan Value of Your Life Insurance * Seizure of Commissions Owed to You. You can go to jail if you haven't filed your taxes >>> OR <<< Even if you've filed your taxes inaccurately. Not filing your taxes is considered a crime by the IRS. You can receive one year of prison time for each year that you don't file. Procrastinating only makes your chances of doing jail time that much worse. The IRS doesn't take kindly to those it has to "chase down". …And they will eventually chase you down, trust me. It doesn't matter if it's been a few years and it seems like you've somehow "slipped through the cracks". You haven't. Just ask our celebrity friends listed above. Even they didn’t “slip through the cracks". Don't believe that you kind somehow get off "footloose & fancy-free" if you haven't filed your taxes. Slipping through the cracks just doesn't happen. However, the more willing you are to face up to your problem and seek a solution, the more likely it is that the IRS won't even threaten prosecution. Why go through life being paranoid, looking over your shoulder, wondering when the IRS is going to jump out from the bushes and finally "call in your chips?" Life's too short to live this way. Even if it's been years since you've filed, you can get the IRS "monkey" off your back, once and for all…even if you feel your situation is hopeless. In this situation, it's a very bad idea to go it alone without legal help. If you are ready to take action, please call the Tax Attorney Mary E. King at (941) 906-7585.

What to Do If You Disagree with An Audit

Mary E. King — Tue, 27 Sep 2011 23:08:40 -0600

Did you know that you have the power as an individual taxpayer to appeal almost any decision made by the IRS? In fact, you can appeal audit findings, penalties and interest, rejected offers-in-compromise, liens, seizures, garnishments and other collection actions. When You Cannot Appeal. According to the IRS, “Appeals is not for you if: - Your only concern is that you cannot afford to pay the amount you owe. - The correspondence you received from the IRS was a bill and there was no mention of Appeals.” So in these two instances, an appeal would be a premature action to take. If you are concerned that you cannot afford to pay the tax you owe, there are channels to go through before you would begin the appeal process. For instance, you could work with an attorney and make your case to the IRS that your situation qualifies for one of these tax debt payment methods:

-Non -Collectible Status -Offer-in-Compromise -Installment Payment Plan -Partial Payment Installment Agreement -Tax Bankruptcy

If an Offer-in-Compromise is the path that is taken, if it is rejected the decision can be appealed up to 30 days from the date of the rejection.

How to Appeal the Findings of An Audit.

If you’re audited (which is happening with increasing frequency these days, especially for small business owners), you may disagree with the IRS findings. You have the right as a taxpayer to disagree with any or all of the IRS’ findings. (1) If you do disagree with the IRS assessment of your taxes after an audit, you can choose to meet or speak face-to-face with the supervisor of the person who issued the findings. (2) The Appeals Office of the IRS is where most differences are settled with the IRS. For cases under $25,000 in tax, it may be possible to settle for a lessening in the tax liability while at this level. (3) However, if the case is more substantial and the Appeals Office does not reach what we feel is a fair decision, it is possible to take the case to a United States Tax Court. Your Argument Must Have Merit – Or Pay a Stiff Penalty. The IRS will not consider your disagreement valid if made solely on “moral, religious, political, constitutional, conscientious, or similar grounds”. Be forewarned, if your appeal is seen as frivolous and you end up taking it to Federal Tax Court, it could end up costing you big time. The IRS doesn’t have much patience with delaying tactics. The IRS gives this warning: “Frivolous Filing Penalty Caution: If the Tax Court determines that your case is intended primarily to cause a delay, or that your position is frivolous or groundless, the Tax Court may award a penalty of up to $25,000 to the United States in its decision.” If you have been audited or if you have received a notice that the IRS wishes to audit your records, please call Tax Attorney Mary E. King to discuss your options at (941) 906-7585.

When To Hire A Tax Attorney

Mary E. King — Tue, 27 Sep 2011 23:07:39 -0600

Very few people look at the calendar with wide eyed anticipation of that wonderful day when they must submit all their financial paperwork for the year. As a matter of fact, staring at that particular deadline is responsible for a considerable amount of avoidable stress and unhappiness in the general population. This is probably when to hire a tax attorney if you have need of one's services. It can be very confusing and frustrating. There are so many boxes to check and spaces to fill out that it can be overwhelming for many people. Scrabbling through shoe boxes full of receipts and invoices, digging through filing cabinets stuffed haphazardly with uncollated paperwork, and trying to keep everything organized on the desk is more than most people are willing to do, legal requirement or not. Things can get even more delicate and confusing when the federal revenue service gets involved. The Internal Revenue Service in the United States of America is viewed with suspicion and a degree of hatred by many people who have had direct dealings with them. While this opinion may not be one hundred percent warranted, it exists and is so entrenched in the culture that it is the frequent subject of comedy material. There seem to be many reasons why the IRS would want to audit someone. This may be the seed of the confusion and fear that the average citizen feels toward the organization. In truth, there is only one common reason and it has to do with the perception of incomplete or fraudulent entries on a federal income tax return. Other situations in which the Internal Revenue Service might choose to perform an audit include taxpayers whose annual income fluctuates wildly, returns which claim unusual or conveniently rounded off deductions, and people who are paid in cash or receive considerable outside tips. So while the lurking threat of an audit without reason or warning can be unsettling to people, the fear is largely unfounded. The IRS will make every attempt to verify and corroborate the reported incomes and deductions, as is their responsibility, and only in cases where fraud is suspected or highly probable will they actually bother to perform the audit. That having been said, there is no guarantee against audit which can be offered to a business owner or an individual taxpayer. Even in the most conscientious cases where the return has been carefully and expertly prepared, there is still the possibility of the Internal Revenue Service deciding to closely inspect the supporting documentation for the return. This can be a traumatic event. Not only is there the feeling of suspicion and mistrust towards the IRS on the part of the taxpayer, the initiation of an audit often implies a similar scepticism on the part of the auditors. The thought that they would not have looked so closely at the tax return if it had not been a bit suspicious is a powerful idea to overcome, and many people immediately assume that they have made a mistake and the audit is their fault. This of course only applies to honest people who have not manipulated their financial information or misrepresented their employment to the Internal Revenue Service. People who submit deliberately fraudulent documentation have absolutely called the audit down upon their own heads, and they really don't have anything to blame but their arrogance. Even so, an audit is a major event and it is absolutely important to make sure that the auditors behave in a fair manner. Any monies which are determined to be owing should be review and verified carefully. Just because they work for the IRS, that doesn't necessarily imply that the individual auditor assigned to a case is incapable of making mistakes themselves. Under no circumstances is it a good idea to accept the statements of the Internal revenue Service without verification, just as they would not think of accepting unverified statements themselves. Proper protection for businesses and individuals is most appropriately provided by dedicated professionals with significant experience in the legal aspects of the federal taxation system. From the outset it is a good idea to have an annual tax return looked at by an accountant if not prepared entirely by them. In this way the risk of audit can be reduced by making sure that no overtly problematic or potentially suspicious entries exist. An accountant is no good once the audit has been called, however. The government accountants will do it themselves, and any discrepancies will be noted and referred for later investigation. In the case of an audit it is usually a very good idea to secure the representation of a tax attorney. These are lawyers who are experienced in protecting their clients from the legal pitfalls which can be problematic for small business owners or other individuals who run afoul of the tax officials. These lawyers are skilled in litigation and negotiation, both of which are necessary to determine if the Internal Revenue Service's claims of owed money is legitimate. These professionals may also be helpful in negotiating achievable payment schedules if the amount owing cannot be reduced. It is important to remember and understand the difference between a tax attorney and an accountant. A Certified Public Accountant is responsible for making sure their clients do not submit fraudulent or misrepresentative returns in the first place. They are the taxpayer's first line of defense against an audit. A lawyer skilled in taxation, debt management, and litigation will not make sure your tax forms are submitted properly, without error, and on time. They will, however, protect their clients to the best of their ability and with all due zeal should the IRS choose to audit their client. Obviously, the best course of action is probably to employ a certified public accountant to help prepare and evaluate the initial tax return. If this step is attended to carefully and no deliberate fraud is perpetrated, the likelihood of an audit becomes very small. "Very small" is not a synonym for "non-existent" however, and there may be eventual dealings with the tax collectors even by the most honest of business owners. Anyone can be the subject of increased IRS scrutiny, and those who find themselves under audit have discovered when to hire a tax attorney.

The Best Florida Tax Attorney For You Is Mary King

Mary E. King — Tue, 27 Sep 2011 23:06:22 -0600

Attorneys or lawyers are among the people who take responsibility in maintaining harmony in the community. They are the ones who take the initiative to let things sail on smoothly. They are expert in managing the court cases filed against their clients. Whatever type of criminal or civil case that the client gets involved in, it is the duty of the attorney to defend him or her. The tax law draws clearly the government levies which are placed on every economic transaction. They are hence known as taxes. In truth, the tax law is among the sub-disciplines and areas to be concentrated on by the students in the law schools. Florida tax attorneys are certainly the people who have taken the thorough analysis of the tax law. The tax law nonetheless covers a lot of areas. Among them are the sales tax, income tax, property tax, excise tax, inheritance tax, as well as the corporate tax. Since the tax law is very much emphasized in Florida, it is not to be doubted that the Florida tax attorneys are always in demand. It adds more to their popularity that they are able to play the very crucial consultative roles in the legal aspect. The Florida tax attorneys are usually the products of the best law schools in the United States of America. Their license certificates are derived from the Florida Board of Legal Specialization. As budding Florida tax attorney specialists, what they need are the sufficient training background, written examinations, and enough dose of experience. So what can a Florida tax attorney do for you? In almost all cases, the clients come to the Florida tax attorneys for the same reason and that is to be saved from the tax disputes they are facing. Getting involved in problems and troubles with the Internal Revenue Service calls for the service of a Florida tax attorney. The Florida tax attorney is acquainted with several modes on how to lessen the most possible punishment to be rendered by the IRS. A Florida tax attorney is likewise able to quickly solve the problem in an efficient way since he has the adequate knowledge to do so. Most of the law practitioners in Florida are male. But of course there are also the female attorneys. The Florida attorneys manage court cases with regards to real estate, criminal law, family law, personal injury, bankruptcy, and many others. Florida tax attorneys are mainly members of the Florida Bar Association which is the official organization supported by the Supreme Court in Florida. In the state of Florida, the Florida Bar Association is the official statewide recognized regulatory group for the practicing lawyers. Most of the business owners in Florida have realized the dire need for a Florida tax attorney because they do not want to be paying overpriced taxes all their life. They see their Florida tax attorneys to be as equally important as their business accountants and financial advisers. When it comes to tax issues, they know that no one can handle their concerns better than those of their hired Florida tax attorneys. Moreover, finding the perfect Florida tax attorney is a matter of shopping around wisely. One must not just settle for someone without properly looking into his credentials. It is important to consider the experience, knowledge, skill, and references of a Florida tax attorney.

Here’s How to Get Your Life Back from The IRS

Mary E. King — Mon, 02 May 2011 23:00:22 -0600

I find that most people who don’t deal with their IRS problems until something ugly happens (like tax liens, seizure of property, bank accounts and other devastating IRS extreme measures) have one thing in common… They’re afraid…afraid that if they approach the IRS to resolve their problem: -That they’ll go to jail -That they won’t have the money to pay the IRS -That the IRS will put them on a payment plan that they can’t afford -That the IRS will cause them to go bankrupt This list could go on and on, but you get the point. In other words, people drum up all sorts of ideas about what will happen to them if they DO approach the IRS to fix their problems…and most of the time their fear is based on something that they’ve concocted in their head. In fact, quite the opposite is true. The IRS does do all sorts of nasty things to people who do NOT take action. That’s what all of the extreme measures are for…things like wage garnishment, bank seizures, tax liens, and other things that can completely destroy your financial life… But these are the things that are reserved for people who do NOT take action – not for those who DO. Realize that the consequences for taking action are infinitely better than not taking action. It’s your fear that has been misleading you this whole time, sending your mind into overdrive, saying “what if?...what if?...”

3 Ways to Deal with Fear of the IRS.

1. Holding Back Your Fear: The problem with holding back your fear not only doesn’t take care of the IRS problem, but it also leads to paranoia, apprehension, worry, and anxiety. 2. Expressing Your Fear: You can tell someone that you’re afraid of the IRS…but if that person isn’t someone who is in a position to give you sound advice and encourage you to do the right thing - you’re not helping the problem. You’re just talking about it and not doing anything about it. 3. Releasing Your Fear: This is your best option. In fact, it’s the only option that will have any positive effects. When you “let go” of your fear, it frees up your mind to deal with things in a logical, matter-of-fact manner. You’ll be able to see things in light of the truth – and no longer be imprisoned by the nightmares that your mind has created. Imagine the Life You Really Want …and Take The First Step To Finally Getting It. “I have an IRS problem and I want to get rid of it”. It’s not really that hard to say, is it? Don’t try to figure out the “how” right now. Just settle in your mind that you’re going to do something right now and make it right. When you do, just let what comes next happen naturally. If you are ready to do something right now about your IRS problem, call Tax Attorney Mary E. King at (941) 906-7585 to schedule an appointment to discuss your options. If you are ready to do something right now about your IRS problem, call Tax Attorney Mary E. King at (941) 906-7585 to schedule an appointment to discuss your options.