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One of the worst things you can do with IRS back tax debt is continue to neglect it for a long time at a time. The IRS wants to add to the total amount you owe, and certainly will stop at nothing to collect that money on additional penalties and interest costs.
They’re the greatest collection agency on earth, and we steadfastly believe that no one should have to face them by themselves again.
For many people, having a government agency that is huge constantly harassing them with letters, notices and revenue officers is a horrible idea.
That is why our Stamford team is here to assist you. You will have someone in your corner, and no longer have to handle the IRS on your own.
If you owe the federal government, or the state of Connecticut, our dedicated law firm is here to make your life simpler.
With only 15 minutes on the telephone with our pros, you will learn what to do next, and precisely what you’ll qualify for.
Give our Connecticut team a call now!
Let our Stamford team help you remove a wage garnishment fast, and get back your hard earned money.
What is a Garnishment?
IRS wage garnishment denotes the withholding or deduction of Connecticut wages from an employee’s salary or compensation emanating from cases of unpaid IRS taxes. In the event you owe the IRS back taxes and don’t respond to their phone calls or payment notices then chances are that you may be subjected to an IRS wage garnishment. In other quarters, it is also called a wage levy or wage attachment.
The garnishment procedure is usually fairly long, first the IRS discovers how much you owe them in back taxes, once this has been done, they’ll send you several payment request notices in the email as well as more than just one phone call with relation to the debt in question. Failure to react to the phone calls and notices,automatically results in a ‘Notice of Intent to impose” being sent to your last known mailing address. You generally have thirty (30) days to get in touch with IRS with regards to this notice before they proceed and forwarding the notice to your Stamford company. After this notice has been sent to the Stamford employer, you’ve got an additional fourteen (14) days to make a reply before garnishment of wages begins. The employer generally has at least one pay period before they may be expected to send the money, after receiving a notice of levy.
How Much Can they Take from My Paychecks?
IRS garnishment rules commonly permit the Internal Revenue Service garnish or to deduct 70% or more of an employee’s wages; this is largely done with the intention of convincing the employee or his representative to touch base with IRS to settle the debt.
Wage garnishments are normally one of the very competitive and severe tax collection mechanics and one should never take them lightly, as a matter of fact, they’d rather resolve tax problems differently and only sanction this levy when they feel they have ran out of viable options. This is usually not possible due to a wide array of reasons, even though paying off the taxes you owe the IRS is the easiest way out of such as situation. First of all, you might not possess the whole sum or the tax liability may belong to somebody else or your ex spouse, you may be required to show this however.
What should I do because of a wage garnishment?
Do so quite quick and you therefore need to discuss any payment arrangements with the Inland Revenue Service. In this respect, it’s critical that you simply touch base with an expert who’ll allow you to readily obtain a wage garnishment release and quit or end the garnishment. We’re a Stamford BBB A+ rated tax business using a team of tax lawyers that are highly qualified with a long record of satisfied customers and years of expertise to demonstrate this. Touch base with us and we guarantee to get back to you within the least time possible, generally within one working day or less. We promise to assist you reach an amicable arrangement together with the Internal Revenue Service(IRS) and get you a wage garnishment release.
Tax liens can get very challenging in case you are buying or selling property or your house. Let our Stamford team help you today
What is a lien?
A federal tax lien is a lien enforced by the government to lawfully claim against your assets if by any chance you are unable to remunerate your tax dues. The lien cushions the authority’s claim to all your existing property, inclusive of financial, personal and real estate assets. When a lien is filed, it is transformed by it into a public record affair. Liens generally record the exact figure owed to IRS in the precise time that it is imposed in a public file called the Notice of Federal Tax Lien. The document notifies lenders the government has a right to seize your property at any given time. Different credit reporting agencies conventionally acquire this specific info hence tax liens finally reflect on your credit reports. Tax Liens are commonly active ten days after issuing a demand to clear the stipulated tax debts.
Federal tax liens can readily be averted from being lodged by paying up all your tax dues before the IRS decide to levy a lien on your assets, and also. They can be evaded through establishing payment arrangements which sufficiently meet the demands of the IRS as not to file a lien. A federal tax lien can’t be filed if a taxpayer chose to prepare a streamlined or guaranteed installment accord. Such agreements require the taxpayer keep a balance of $10,000 or an amount less than that for the guaranteed payment treaty and for the streamlined agreement , it should be $25,000 or less. In a predicament where the taxpayer owes more than $25, 000, a tax lien may be averted if he or she tries their best to reduce that particular outstanding balance to just $25,000 or less and alternatively lays out a streamlined treaty. There are two methods of removing tax liens: withdrawal and release.
What do I have to do to get a lien removed?
Withdrawing federal tax liens is like it never existed when the IRS resort to revoking the lien. Lien withdrawals normally take place the lien is filled. In a case where the tax lien is wrongly filed, contact the IRS when possible. In order to substantiate you have no tax arrears then take the necessary steps in removing the lien, the IRS representatives will assess your account.
Releasing a federal or Connecticut state tax lien generally means that the imposed lien constrains your assets. Promptly after lien releasing, the county records will instantly be brought up to date to demonstrate that is has been released. Yet,the presence of a federal tax lien will be exhibited in your credit reports for 10 years. Liens are usually released within a month of clearing the outstanding tax arrears or upon establishing the guaranteed and streamlined arrangements.
What to Do Next
To sort complex lien issues encountered, for example discharge,withdrawal,subrogation and subordination (Collection advisory group), Resolving fundamental lien issues, requesting or verifying a lien, releasing a lien (Central Lien operation), Guidance from organizations within IRS (Taxpayer Advocate service), Inquiring whether bankruptcy affected your tax arrears (Central insolvency operation),do not be unwilling to go to our offices to help you in effectively removing your tax liens by settling your debts on schedule to avert the government from seizing your property or instead you can give us a call and our Stamford agents shall have the ability to assist you to navigate through any impending federal tax liens.
Has your business run into issues with company taxes or outstanding payroll? Our Stamford company can help.
The Internal Revenue Service is a formidable money making machine for the authorities, and they’re going to collect in case your company has dropped into IRS company tax debt. So, in case your business has delinquent taxes such as payroll tax debts there’s no need to scurry for cover (and remember – never conceal) even in the event you know little or nothing about dealing with IRS business tax debts. There are experienced professionals prepared to assist.
Un-Filed Payroll Taxes
The Internal Revenue Service looks at payroll tax – taxes levied on employers and employees – from two views:
- (a) Taxes a company pays the IRS predicated on the wages paid to the worker (known as withholding tax’ and is paid out of the employers own funds) and
- (b) A percentage of wages the employer deducts from an employee’s wages and pays it to the IRS.
The employer ends up footing the bill for both the types of taxes as the withholding tax results in lower wages.
Tax Repayment Timeline
Employment or Payroll taxes are collected by the IRS through the Electronic Federal Tax Payment System (EFTPS). The schedule of these payments depends upon the typical amount being deposited (based on the look back period’ – a twelve month period ending June 30). This payment schedule may be monthly or semi weekly.
If you’re a business that is new and did not have some employees during your look back span’ or in case your entire tax liability is up to USD 50,000 for your look back interval’, you must follow a monthly program.
In case your payroll tax liability is less than USD 50,000 you’ll have to follow a semi-weekly deposit program. These taxes must be deposited by Sunday, Monday, Tuesday or Wednesday following the Friday payday. Should you fail to pay your taxes on these days you’ll fall into a payroll tax debt. You must seek the services of tax professionals to direct you through this maze of processes and keep from falling into payroll tax debt and steer clear of hefty fees.
How To Deal With Unpaid Tax Debt
Revenue collected through taxes for example payroll tax are spent on funding programs like; health care, social security, worker’s compensation, unemployment compensation and at times to improve local transfer that takes many workers to and from work.
When you have to take care of IRS tax debts, it is extreme important to keep in touch with your IRS officials – never avoid or conceal from them. Most IRS fees contain a compounded rate of interest of 14% this can turn a company turtle in a very short time dealing with IRS company tax debt it paramount.
How a Seasoned Stamford Tax Professional Can Assist You
Being in an IRS company debt situation is serious. You might have time on your own side since the IRS is slow to start processing your account, but when they gain impetus things get worse for you. Yet, you are not helpless. There are procedures you may be qualified for that a Connecticut professional can use his good offices with the Internal Revenue Service to help you over come your business debts.
Among others, you desire a professional’s help, if you never have heard of an Offer in Compromise, Tax Lien Span, Uncollectible Status and Insolvency. Waste no more time, touch base with us today to get out of business tax debt and save your company from close.
An Offer in Compromise deal could save you up to 90% on your back tax debts owed
What is it
The customer faced with serious tax issues by paying or instead bailing them out up to less than the amount owed is helped by the IRS. Nonetheless, not all distressed taxpayers qualify for IRS Offer in Compromise Agreement. This really is entirely after assessment of the client has been carried out, because qualification is based on several factors. The IRS Offer in Compromise Arrangement plays an instrumental role in aiding taxpayers with distressed financial challenges solve their tax problems. This means the IRS acts as the intermediary that helps their tax debt is paid by the citizen in the fashion that is most convenient and flexible. The main interest and point of focus is the compromise that totally suits the needs of both the citizen and the Internal Revenue Service (IRS).It is wise to note that the taxpayer must make a valid and proper offer vis-a-vis what the IRS considers their sincere and precise potential to pay.
How Hard is it to Qualify?
Filling the applications doesn’t guarantee the Stamford taxpayer a qualification that is direct. The Internal Revenue Service begins the complete appraisal and evaluation procedure that may leave you incapable of paying your taxes. The applications should be filled with utmost accuracy stating clearly reasons for your inability to pay tax. These programs are then supported with other related records which will be used by the Internal Revenue Service to find out the eligibility of the taxpayer for an Offer in Compromise Agreement. Yet, there are some of the few qualifications procedure that should be satisfied entirely be the citizen. Some of those qualifications include but not restricted to ensuring that the taxpayer files all the tax returns that they are lawfully bound to file, make and present all the estimated amount of tax payments for the current year and eventually the taxpayer is supposed to make down payments for all of the federal tax for the current quarter particularly for citizens who run companies with workers. These are the three basic tenets of qualification that each and every taxpayer seeking help from IRS must meet to be able to be considered.
What to Do now
Then our BBB A+ rated tax law firm helping Stamford is there for you to help negotiating an IRS Offer in Compromise deal thus if you are just one of those citizens in need of care and guidance when it comes to IRS. This really is an incredible law firm that will serve as a yard stick for those who need help that is proper in negotiating for an IRS offer in compromise arrangement. Do not hesitate to contact them because they’ve a good safety reputation and a powerful portfolio. They have a team of dynamic and competent professionals who are constantly on hand to assist you. Try them now and experience help like never before. It’s simply the finest when it comes to discussion of an IRS offer in compromise arrangement.
An Installment Agreement can spread out your payments over time, which means you don't have to pay all at once
The IRS Installment Agreement is a way for taxpayers in Stamford to pay their tax debt when they cannot pay it in full with their tax return. So long as the taxpayer pays their tax debt in full under this Agreement, they avoid the payment of the fee that’s connected with creating the Understanding and can reduce or get rid of the payment of interest and fees. Establishing an IRS Installment Agreement requires that all necessary tax returns are filed prior to applying for the Deal. The taxpayer cannot have some unreported income. If more than $50,00 in tax debts are owed, then the citizen may apply for a longer period to pay the debt. Sometimes, a citizen may ask for a longer span than 72 months to pay a tax debt of $50,000 or less. back
Benefits of an Installment Agreement
The agreement will result in a few significant gains for the citizen. While an arrangement is in effect, enforced group actions WOn’t be taken. Life will be free of IRS letters and notices. When the citizen can count on paying a set payment each month rather than needing to be concerned about getting lump sum amounts on the tax debt, there will be more fiscal independence. The taxpayer will remove continuing IRS fees and interest. The IRS will assist if the taxpayer defaults on a payment providing the IRS is notified instantly, the taxpayer keep the arrangement in force.
Obligations of the Installment Agreement
Some duties have the Installment Agreement. When due, the minimum monthly payment should be made. The income of an individual citizen or the incomes of citizens that were combined should be disclosed when putting in an application for an Installment Agreement. In some cases, a financial statement must be supplied. All future returns should be filed when due and all the taxes must be paid when due. This method of making monthly payments enable the taxpayer to request the lien notice be withdrawn. In the event the taxpayer defaults on the Installment Agreement, but, the lien can be reinstated.
An Installment Agreement can be negotiated by the taxpayer with the IRS. Nevertheless, particular information must be supplied and any information might be subject to affirmation. For taxpayers owing more than $50,000, a financial statement will be required.
How to Get Ready to Apply for an Installment Agreement
There are several precautions that must be contemplated while taxpayers can apply for an IRS Installment Agreement. Although the IRS attempts to make using for an Installment Agreement a relatively simple process, there are some condition which can make this a challenging undertaking. It is vital to get it right the very first time that the application is made since many issues can be eliminated by an Installment Agreement with the IRS.
We’re the BBB A+ rated law firm serving all of Stamford and Connecticut, that can provide you with skilled help. Our many years of expertise working on behalf of taxpayers that have difficulties paying their tax debt with the IRS qualifies us to ensure approval of your application for an Installment Agreement.
Ready for Freedom? File Your Back Returns and Stop the Feds and Connecticut from harassing your Stamford family
Our Stamford Firm Can Help You Finally Stop the Notices and Letters from Coming
Penalty Abatement services for anyone in the Stamford, CT area owning significant amounts in back taxes
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Other Nearby Cities
Ansonia, Beacon Falls, Bethany, Bethel, Botsford, Bridgeport, Bridgewater, Brookfield, Cos Cob, Danbury, Darien, Derby, East Haven, Easton, Fairfield, Gaylordsville, Georgetown, Greens Farms, Greenwich, Hamden, Hawleyville, Middlebury, Milford, Monroe, Naugatuck, New Canaan, New Fairfield, New Haven, New Milford, Newtown, Norwalk, Old Greenwich, Orange, Oxford, Redding, Redding Center, Redding Ridge, Ridgefield, Riverside, Roxbury, Sandy Hook, Seymour, Shelton, Sherman, South Britain, Southbury, Southport, Stamford, Stevenson, Stratford, Trumbull, Washington, West Haven, Weston, Westport, Wilton, Woodbridge, Woodbury
|Services / Problems|
Removing Wage Garnishments
Getting Rid of Tax Liens
Removing Bank Levies
Filing Back Tax Returns
Stopping IRS Letters
Stopping Revenue Officers
Solving IRS Back Tax Problems
Ironing out Payroll Tax Issues
Relief from Past Tax Issues
Negotiating Offer in Compromise Agreements
Negotiating Innocent Spouse Relief Arrangements
Penalty Abatement Negotiations
Assessing Currently Not Collectible Claims
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|Wikipedia Link:||Stamford on Wikipedia|