Get Help With Your IRS Tax Debt
The IRS has many tactics they can use in order to get you to pay your back taxes. Some of these issues may be minor, only adding a small amount to your balance if you pay them back quickly, but others can be severe. By severe we mean seizing control of your bank accounts or personal property to make sure your balance is paid. If you are experiencing any tactics of the IRS, New York Tax Attorney Service should be the first place you call for help. We have experienced staff ready to assist you in your search for a qualified tax debt specialist. Contact (646) 760-3114 today, for your free consultation.
What is tax debt?
Tax debt means that for some reason you owe the IRS money. It can be in many different forms, but the bottom line is that you have an unpaid balance owed to the IRS, and they want their money. The IRS usually begins with sending you a letter notifying you or your past due balance. This will usually include a Failure to File fee or Failure to Pay fee and any interest added to your account. The penalties and interest the IRS adds may seem like a small amount at first, but over time, it can add up to 47.5% more money added to your IRS balance. It is best to pay the IRS as soon as you receive the first letter, but that can be impossible sometimes.
If you do not respond to the IRS for a period of time, they may decide to use more severe tactics such as filing a Federal Tax Lien against you. A Federal Tax Lien shows up on your credit report, and makes it known that you have a balance with the IRS. Your current creditors will be made aware of your tax status, as will any potential creditors. This can impede your ability to acquire new credit or even refinance any existing credit such as a home or auto loan.
What could be worse?
An even more severe method of the IRS is a tax levy. With a tax levy the IRS can seize control of your bank account, retirement account dividends, or any personal property you own. The IRS can then liquidate those assets and put the money they get towards repayment of your past due balance with them. In some cases, this can cause an individual like you to fall into significant financial difficulty.
A qualified tax professional
In any of the scenarios described above, your best bet is to have a qualified tax debt professional on your side. Through us, you will get access to the best of the best when it comes to tax debt relief. New York Tax Attorney Service – 3rd Avenue location strives to give you the best service and gets you connected with the tax professional you seek. We listen and work hard for you, which is what sets us apart from the rest! Call us today at (646) 760-3114, to see for yourself why we are one of the leaders in the referral industry.
TAX DEBT SPECIALISTS!