What You Need To Know About Filing Past Tax Returns
Filing taxes can be time consuming and difficult, which is why many people fail to file on time. One of the most common questions that we hear from our clients is “What should I do if I haven’t filed past tax returns?” This is an important matter, so it is critical that you understand every aspect in detail.
There are serious consequences to not filing a tax return, which is why it is critical that any unfiled taxes be submitted as soon as possible, while making sure to include any deductions and benefits of that year that apply to you. It would also be in your best interests to hire an experienced tax attorney to help you avoid the following penalties:
• The IRS can impose a “failure to file” penalty that can increase your tax bill by as much as 25%
• The IRS can impose additional interest charges on money that is owed
• You can lose your tax refund even if you were supposed to get money back
• The IRS can seize your wages, bank accounts, and other assets to collect the money owed
• Criminal prosecution
To learn more about what you should do if you fail to file on time, watch the video below above.
Because taxes can be a complicated process, we understand the many reasons that a lot of people fail to file. However, whether you’re missing records, are afraid that you might owe back taxes, or are confused about how to fill out the forms, it is crucial that you contact an experienced tax attorney as soon as possible.
Ebbinghouse Law Group, LLC
320 N. Meridian Street
Suite 908
Indianapolis, IN 46204
317-635-4010
https://www.thetaxsolvers.com
What You Need to Know About IRS Penalties and Interests
Paying taxes is an inevitable cost for any business, and it is a chore that most business owners take in stride. However, when your tax bill arrives with penalties and interest tacked on to the total, it is difficult to swallow, because these fees unnecessarily increase your bottom line.
Most penalties and interest can be avoided, however, with just a little forethought. When it comes to taxes, you may want to employ the assistance of an accountant and attorney who understands the ins and outs of the system.
To learn more about how to avoid penalties and interest, watch the video above.
Not filing or paying your taxes on time is a very serious offense against the IRS. In order to avoid interest or penalties, you want to be sure to file and pay your taxes on time, in full. Even paying your taxes a little bit at a time you can accrue high interest rates, and late penalties could possibly be added to your due total.
If you file your taxes after the due date, things can become even more complicated and expensive than necessary. It is best to avoid this situation by filing and paying all of your taxes on time, but even the best laid plans can falter. If you find yourself in a position where you owe penalties or interest, an experienced attorney may be able to help you.
Legal counsel can help you fill out all the tax forms and provide knowledge of the law to help you avoid financial disaster, and can quite possibly help you lower the costs.
Contact an experienced attorney today for help with your tax needs.
Ebbinghouse Law Group, LLC
320 N. Meridian Street
Suite 908
Indianapolis, IN 46204
317-635-4010
https://www.thetaxsolvers.com
Can I Pay Back My Taxes with an Installment Plan?
Knowing that you’re in debt can cause a lot of stress and worry in your life, and this is particularly true if you owe back taxes to the IRS. One of the most common questions we get from our clients is, “If I can’t pay my taxes right now, what are my options?”
Because not paying your taxes is a very serious offense, it is important that you understand all of your options for paying back the IRS.
To learn more about what to do if you fall behind on your taxes, click the link to watch the video below.
Whether or not you can afford to pay your taxes on time, you are still obligated to pay the IRS. Fortunately, the IRS offers ways to help you relieve the debt a bit. They offer monthly installment plans, and may be even willing to accept a settlement for less than or a fraction of the amount that you owe.
Before you apply for a monthly installment plan, however, there are steps that you should take to be sure that you have made the right decision, such as:
• File all required tax returns
• Consider other sources, such as a loan or credit card, to pay your taxes back in full, and possibly save money this way
• Determine the largest monthly payment that you can make (The IRS has a $25 minimum)
You must also understand that all future refunds will be applied to your tax debt as well, until your debt is paid in full.
An experienced tax attorney can help you negotiate with the IRS, come up with the best solution for your unique circumstances, and possibly save you thousands of dollars. For the help of a seasoned tax attorney today, call Ebbinghouse Law Group at the number below.
Ebbinghouse Law Group, LLC
320 N. Meridian Street
Suite 908
Indianapolis, IN 46204
317-635-4010
https://www.thetaxsolvers.com
What is an IRS Tax Lien?
An IRS tax lien is a legal claim or “hold” on either your real estate or personal property that is used against any unpaid back taxes that you owe to the IRS. It can prevent owners from selling their property, and can even be used to foreclose on any property on which there are unpaid taxes. In the latter instant, the property then becomes property of the government to do with as they please.
To learn more about how unpaid taxes can affect you, click the link to watch the video below.
An IRS tax lien can affect you in many ways, all of which come with hefty consequences, such as:
• A lien can be attached to your future assets
• A lien will affect your credit score, limiting or eliminating your chances at future credit
• If you file for bankruptcy, your tax debt and IRS lien may continue to follow you even afterwards
The best way to resolve an IRS tax lien is to pay your taxes on time. However, if you are unable to pay your taxes in full by the time they are due, it is critical that you do not ignore the IRS, but try to work something out with them. An experienced tax attorney can not only help you set up a payment plan, but they can help you negotiate with the IRS, and choose the best route for you to take to clearing your debt.
If you owe back taxes or you have an IRS tax lien on your property, contact an experienced tax attorney today.
Ebbinghouse Law Group, LLC
320 N. Meridian Street
Suite 908
Indianapolis, IN 46204
317-635-4010
https://www.thetaxsolvers.com
Tax Audits Can Be Scary
Tax audits can be an extremely nerve-wracking ordeal. Fortunately for you, however, you may not have to go through one alone, or, if you are represented by legal counsel, you may not have to go at all. An attorney can not only help you keep yourself out of hot water with the IRS, but they can also attend the audit in your place, so that you don’t have to go through that stressful experience at all.
To learn more about why having legal counsel during your audit may be in your best interest, click the link to watch the video below.
Unless you receive a personal summons from the IRS, if you have legal representation, you do not have to attend your audit. This may work out to your advantage because it keeps you from volunteering any information about yourself that may hurt you.
IRS tax auditors are trained in legal jargon, while you are not. They take everything you say very literally, and if you make one slip about your estimated earnings or anything of the sort, you could be accused of lying or skewing the facts, both of which has severe consequences.
To avoid trouble with the IRS during your audit, contact an experienced tax attorney today! We can help!
Ebbinghouse Law Group, LLC
320 N. Meridian Street
Suite 908
Indianapolis, IN 46204
317-635-4010
https://www.thetaxsolvers.com
Defending Your Case to the IRS
As seasoned tax attorneys, one question that we hear often is, “Why do I have to provide the IRS with all this paperwork?” When it comes to dealing with the IRS, documentation is essential. This is because the burden of proof is on you, which means that you alone are responsible for providing documentation to support your claim and prove that you are entitled to whatever it is you are asking for.
To learn more about why proper documentation is critical to your case, click the link to watch the video below.
Since documentation is essential to your case, it is important to understand exactly what the IRS is looking for. Below is a list of documents that you need to keep an accurate record of throughout the tax year.
• List of assets
• Bank statements
• Business, travel and entertainment expenses
• Receipts for business meals and gifts
• Salaries or wages paid
• Employment taxes paid
• Proof of income
• Personal expenses
• Mortgage, utility and other living expenses
If you are missing certain records, there is no need to worry just yet. Sometimes, the IRS allows estimates and reconstructions to be used, so long as they’re accurate. A tax attorney can help you through the process as well, by defending your case or even, in the best of circumstances, preventing tax problems in the future. A tax attorney can help you maintain all of the necessary documentation and even ensure that there are copies. Without adequate documentation, the IRS will win.
Be sure that you arm yourself with the best possible defense—sound documentation and an experienced tax attorney! Call us today.
Ebbinghouse Law Group, LLC
320 N. Meridian Street
Suite 908
Indianapolis, IN 46204
317-635-4010
https://www.thetaxsolvers.com
Are All Tax Relief Services the Same?
Though many people believe that all tax relief services are essentially the same thing, the truth is there are a wide variety of tax services available. Choosing the best tax relief service for your situation depends on your wants and needs, and how much you value the knowledge and advice of an experienced attorney. The various types of tax relief services can be categorized into three levels.
To learn more about the three different levels, click the link to watch the video below.
Level one is like your local fast food joint. It offers limited choices, from a set menu, and the staff is often inexperienced. Their main goal is to get you in-and-out as quickly as possible, while offering the bare minimum of customer service.
Level two is comparable to Chili’s or Applebee’s. You will receive good service from an experienced staff, and have a wider selection of good, familiar food to choose from.
However, level three is like a Morton’s Steakhouse, or Ruth Chris’s. You may have to go farther to find one, and it may be more costly, but the service is excellent, and the food is unparalleled. Level three tax relief services have highly trained and skilled tax attorneys to meet with you one-on-one to discuss your unique situation and to provide an individualized plan that will best resolve your tax problems.
Which tax relief service you choose all depends on what’s important to you and what your needs are. If you want the cheapest service, with little to no personal attention, level one may be right for you. If you would like some one-on-one attention, with a few basic questions answered, level two will work for you. However, if you would like undivided attention until all of your tax problems are resolved, and an individualized plan to go along, then you want a level three tax attorney. And that’s what we provide.
Here at Ebbinghouse Law Group, our highly qualified tax attorneys can and want to help you with all of your tax relief needs!
Ebbinghouse Law Group, LLC
320 N. Meridian Street
Suite 908
Indianapolis, IN 46204
317-635-4010
https://www.thetaxsolvers.com
How Long Does It Take to Resolve an IRS Tax Audit?
Were you unable to pay your taxes this past year and you are now in an ongoing legal battle with the IRS? Don’t worry, you’re not alone. Millions of Americans find themselves in this predicament each year, and unfortunately, the process is never quick or easy. At Ebbinghouse Law Group, we will do the best that we can to ensure that your battle is not only manageable, but is as swift and stress-free as possible.
Watch the video below to learn how we can help you.
In order to better serve you, we perform a thorough investigation into your IRS history. We want to know when you filed your return, when it was received, and if the IRS has been trying to get in contact with you. All of these details help us to better determine the kind of trouble you are in, and, therefore, better estimate how long it will take to resolve your case. Your tax problems may not be resolved overnight, but at Ebbinghouse Law Group, we’d sure like to try!
Ebbinghouse Law Group, LLC
320 N. Meridian Street
Suite 908
Indianapolis, IN 46204
317-635-4010
https://www.thetaxsolvers.com
I Can’t Pay My Taxes…Am I Going to Jail?
While not paying your taxes is a serious offense in the eyes of the IRS, not filing a return is a criminal offense, one that can result in jail time, penalties and interest of up to 70 percent, and the seizure of your accounts. Despite today’s economic environment and the financial challenges that many face, you are still required to file a tax return every year even if you cannot pay your taxes at the time- it’s the law! Don’t let financial hardships hinder you even further; instead, contact a tax attorney right away to see what we can do for you.
To see if you qualify for a tax attorney today, watch the video below.
If you find yourself in a financial situation in which you are unable to pay your taxes, don’t worry, you aren’t the only one. Don’t make the same mistake as countless others, however. File a return, start saving, and get yourself a good tax attorney. Call Ebbinghouse Law Group today, we want to help!
Ebbinghouse Law Group, LLC
320 N. Meridian Street
Suite 908
Indianapolis, IN 46204
317-635-4010
https://www.thetaxsolvers.com
