IRS and State/Local Representation
Our firm knows the tax laws, and we know how your tax return was prepared. We can provide complete representation services before the IRS as well as state and local taxing authorities. We are also experienced in negotiating Offers in Compromise with the IRS.
What if I am unable to file my tax return by April 17th?
You will need to obtain and file a form 4868 Application for Automatic Extension of Time to file Income tax return. The form must be sent to the IRS by April 15th using a “good faith” estimate of tax you will owe for the previous year. The deadline for your return is then extended to August 15th.
A second tax return extension is available only with good cause to further extend your deadline to October 15th.
What is a Tax Lien?
A Tax Lien is a type of Collections action that the IRS frequently uses to force a taxpayer into payment of a tax debt. A Lien is essentially a claim against the assets of a taxpayer who is in arrears with the IRS or a State taxation agency, and signals to his or her creditors that this person has a preexisting debt to that agency which must be satisfied before the Liened assets will be returned to the taxpayer’s complete control. Although the affected assets are technically still owned and usable by that taxpayer, the Lien will act as a roadblock to prevent the sale or transfer of the property as long as the tax debt exists. This includes property acquired after the Lien has been filed. Only when the debt has been satisfied in full, will the Tax Lien be removed.
A Notice of Federal Tax Lien will be filed by the IRS after they have assessed the liability, sent the taxpayer a demand for payment, and had that demand refused or neglected. After 10 days from the time of notice, the Lien will go into effect. A Tax Lien attaches to all physical property (such as real estate, automobiles, etc.) and also to any rights to property that the taxpayer may hold (a business’s Accounts Receivable, for instance.) An IRS Tax Lien will cause serious damage to a person’s credit rating and may eventually lead to asset seizure. If you have received a Notice of Federal Tax Lien, please contact us right away, so that we can immediately address the tax problem that led to the Lien in the first place and start you on the road to a resolution.