When to Contact a Tax Resolution Attorney
Tax problems often start small—you’re a little late filing your return or making a tax payment. These issues can quickly become worse because of penalties, interest, and the challenge of paying back taxes and meeting your current obligations at the same time.
If you’re starting to feel stressed about your tax debt, it may be time to get help from a professional. Here are five signs that you need to request assistance from a tax resolution attorney.
1. You Aren’t Receiving Your Tax Refunds
When you owe money to the IRS, you can expect them to begin offsetting your tax refund checks. You won’t get your tax refund money and the IRS will instead apply it to your tax debt.
You can try to reduce your tax withholdings so that the IRS doesn’t get as much of your money, but that’s not a permanent solution to your tax problems.
2. The IRS Files a Notice of Federal Tax Lien
If your outstanding balance keeps increasing and you don’t work out a payment arrangement, the IRS may file a Notice of Federal Tax Lien (NFTL) a local authority, such as a country recorder’s office.
The NFTL is a public record that alerts other creditors of the IRS interest in your property. It can also make it harder to get a home equity loan or sell your home.
3. Your Balance Keeps Increasing
Once you get behind on your tax payments, it can be difficult to catch up. Penalties and interest keep adding to your balance, and you continue to accrue new tax obligations every time you earn income.
The IRS also tends to get more aggressive as your balance goes up, adding the pressure you feel about your tax debt.
4. You Keep Getting IRS Notices
The IRS is required to send notices in many different situations—when you have a past due bill, when your tax return is being adjusted, or when certain collection actions are taken. If you have serious tax problems, these notices can really start to add up.
After a while, you may want to just throw them on a pile without reading them, but don’t. Some of these notices may alert you of very important things, such as a pending seizure of your bank account or other assets.
5. Your Assets or Wages Are at Risk
If you’ve been ignoring your tax problems so far, this is the point where you’re going to realize you need to start paying attention. You could go to the ATM and find out your bank account has been drained or receive your paycheck and find that a large portion of your wages has been garnished.
This is often the stage when you’ll realize you need to get help. When you’re ready to face your tax problems and come up with a plan of action, contact a tax resolution attorney to set up a consultation.
Get help stopping an IRS bank levy or wage garnishment by calling Ayar Law at 248-262-3400 to request your consultation with a tax attorney.