When it comes to Tax Liens, it is better to employ preventative measures than to deal with curing them. Take our word on this. When the Internal Revenue Service (“IRS”) issued a tax lien, they made a public declaration that you are delinquent on your taxes. Tax Liens are filed with the applicable county, typically…
Continue reading ›Read Our Latest News
How Does a Lien Originate The IRS may bring a tax lien against you if you have a large tax debt. A lien is not the same as a levy. It does not automatically result in the loss of one’s property. A lien gives the IRS creditor rights to the property under the lien, which…
Continue reading ›For many, dealing with the IRS can invoke significant stress, especially when one has received a notice of an impending audit. Should I lawyer up? This may be the first reaction; however, in many instances, this is not necessary. When you get an IRS notification, you should first take a deep breath and relax so…
Continue reading ›Surprisingly not many taxpayers either know about the IRS’s penalty forgiveness under Penalty Abatement (“PA”) and First Time Abatement (“FTA”) or take advantage of them if their tax situation warrants it. The IRS introduced this penalty waiver over 20 years ago, yet it is often overlooked. Tax penalties can significantly increase the total balance owed,…
Continue reading ›When should I hire an experienced tax professional (such as a tax attorney-CPA-EA, Will Harmon of Harmon Tax Resolution, LLC) to represent me in front of the IRS or state taxing agency? There are many situations where having the representation of a multifaceted tax professional will play a significant role in not only putting this stressful situation behind…
Continue reading ›Can the IRS Put a Tax Lien on My House? The IRS will likely put a tax lien on your home if you are in an unfortunate situation where you have a significant tax balance owed and have payments past due. The IRS files a public document, the Notice of Federal Tax Lien, to alert…
Continue reading ›To qualify for Currently Not Collectible (“CNC”) status, one must prove that they cannot pay any portion of the taxes owed. In addition to showing earnings are only enough to cover allowable living costs, one must demonstrate a complete lack of resource availability from borrowing, whether from a bank, credit card, or any associate’s lending…
Continue reading ›There are several options to consider when one has a tax balance owed to the IRS. One can seek an Offer In Compromise; one could utilize Installment Plan options, or most likely as a last resort, to declare a form of bankruptcy. In these options, the tax debt is reduced. However, there is an option…
Continue reading ›People often ask whether it is worth calling a tax resolution firm to assist when they receive an IRS notification in the mail. The best answer I can provide would be to give an example of a recent client who called me. Prior to his calling me, my client spoke with his tax preparer to…
Continue reading ›Just seeing a notice from the IRS in your mailbox can often evoke a wide range of internal responses from somewhere between concern and outright panic. Even though it feels natural for these types of reactions to occur, they are not always warranted. Each year the IRS sends millions of notices to taxpayers across the…
Continue reading ›