Stop the harassment for good, and give our firm a call now

Highly Experienced Texarkana Tax Lawyer

Let our Arkansas team which means you are able to afford to pay back your debt over time, negotiate a payment plan for you

This agreement allows for monthly payments to be made. As long as their tax debt is paid by the taxpayer in full under this Agreement, they prevent the payment of the fee that is associated with creating the Agreement and can reduce or eliminate the payment of fees and interest. Creating an IRS Installment Agreement requires that all necessary tax returns have been filed before applying for the Arrangement. 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. In some instances, a taxpayer may ask for a longer span than 72 months to pay back a tax debt of $50,000 or less.

Good Things about an Installment Payment Plan

The agreement will bring about certain important advantages for the citizen. While an agreement is in effect enforced set activity will not be taken. Life will be free of IRS letters and notices. When the taxpayer can count on paying a set payment each month rather than needing to worry about putting lump sum amounts on the tax debt, there is going to be more fiscal freedom. The citizen will remove interest and ongoing IRS penalties. The Internal Revenue Service will assist the taxpayer keep the agreement in force if the taxpayer defaults on a payment providing the IRS is notified instantly.

Problems with the Installment Plan

Some duties come with the Installment Agreement. The minimum payment must be made when due. The income of the incomes of citizens that were combined or an individual citizen must 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 owed with these returns must be paid when due. Taxpayers paying their tax debt under an Installment Agreement might have to authorize direct debit of their checking account. This way of making monthly payments enable the citizen to request that the lien notice be removed. However, the lien may be reinstated in the event the taxpayer defaults on the Installment Agreement.

An Installment Agreement can be negotiated by the citizen with the IRS. Nonetheless, specific information must be provided and any info could be subject to verification. For citizens owing more than $50,000, a financial statement will be required.

How to Prepare to Apply for an Agreement

There are some precautions that must be considered, while taxpayers can submit an application for an IRS Installment Agreement. Though the IRS attempts to make using for an Installment Agreement a relatively simple process, there are some situation which can make this a challenging undertaking. It is important to get it right the very first time the application is made since many problems can be eliminated by an Installment Agreement with the IRS.

We are the BBB A+ rated law firm serving all of Texarkana and Arkansas, which can provide you with expert assistance. Our many years of experience working on behalf of citizens that have problems with the Internal Revenue Service qualifies us to ensure approval of your application for an Installment Agreement.

A bank levy can be removed within 24-48 hours, but only in the event you act immediately and let our Texarkana team help you

Bank levies are charges imposed in your Texarkana bank account when you’ve got outstanding tax debt. The law allows the Internal Revenue Service to seize funds in your bank account for clearing your tax obligations. Unfortunately, the process isn’t consistently smooth. In most cases, the association ends up freezing all the cash that is available in a specified account for a period of 21 days to take care of a man’s or a company’ tax obligation. During the halt, it’s impossible to get your money. The sole possibility of getting them at this stage is when the interval lapses when they are unfrozen. Preventing the levy lets you get your resources for fulfilling other expenses.

When and Why Levies Get Slapped On

The Internal Revenue Service bank levies are applied as a final resort for you to your account to pay taxes. It occurs to those in Arkansas who receive many evaluations and demands of the taxes they owe the revenue agency. Failure to act within the legal duration of a tax obligation leaves no choice besides to proceed for your bank account to the IRS. This occurs through communication between your bank and the IRS. You may find that on a certain day, if you are not aware. It can be more than that and you get a refund after the levy period, although the amount equal solely affects to your tax debt. Bank levies follow a final notice for meaning to levy along with a notification about your legal right to a hearing. In summary, the IRS notifies you of the bank levies that are pending. When implemented, the IRS can only require money which was in your bank on the date a levy is used.

How to Have Bank Levies Removed in Texarkana

There is a window of opportunity for you to utilize to get rid from your account of bank levies. Getting professional help as you take measures to safeguard your bank assets is a sensible move that you just ought to take. By being a step ahead of the IRS, you get rid of the bank levies. With a professional service it will be simple for you to know when to take your money out of the bank. You certainly can do it by getting into an installment arrangement. Lastly, you can go for ‘offer in compromise’ as a method to get tax forgiveness.

They may be very complicated to carry out, while the alternative seem simple. Understand every aspect of the law, have the resources to do so, you need to act fast and deal with associated bureaucracies levied by banks and also the IRS. The smart move would be to phone us for professional help with your IRS situation. We have expertise and skills that have made us a number one choice for many individuals. For more information and help, contact us for partnered tax professional aid.

It's time to cease the revenue officers from harassing you and for all!

 What is a Revenue official?

Agent or an IRS officer is a typical visitor to your Arkansas business or daily life. Getting a differentiation between the two is very important for you to know how to cope with each. An IRS representative has the main purpose of auditing tax returns. They send notifications regarding at hand audits via e-mail. When you get an email from IRS representative, you can either go to local IRS office or an agent comes over to your house or business to audit returns.

An IRS official on the other hand deals with more complex tax issues. For instance, if an IRS representative discovers that you never have paid taxes on a specific source of income, your case is referred to as IRS official. Thus the primary occupation of an IRS officer is to take care of back tax liability or a tax debt.

The Internal Revenue Service assigns you a revenue officer in the following situation:

Failure to Gather Tax Payments

When the IRS has failed to successfully collect taxes from you using the regular channels like levies, telephone calls, notices and e-mails.

Un-Filed Back Taxes

Like payroll taxes when you fail to pay particular form of taxes.<?p>

Huge Outstanding Tax Liabilities

A typical figure being 25,000 dollars or more. when your tax liability is significantly large

Remember IRS revenue officers are mandated by law to undertake measures to regain the taxes. These measures repossess wage garnishments or property, freeze assets, impound and can include issue levies. Anticipate these officers to appear at your home or location of companies unexpected or without prior communication. In rare cases, you might be called by the policemen or send you emails summoning you to their offices. Try to cooperate with them to avoid further complicating your case and try to pay you over-due taxes to the extend your income can adapt. In case your case is complicated or the tax amount demands you to workout a blueprint to pay, you’ll need the services of an attorney.

What You Should Do if you Get {a Revenue Official|an IRS Revenue Official

When you’re not able to settle your debt instantly, the IRS official might request some files and financial records. Filling these forms ought to be done right and accurately thus the services of an attorney are needed. Should you fill the forms wrongly whether intentionally or unknowingly, the IRS can use this against you and sue you for tax evasion. Therefore, as soon as you get these forms, the first thing to do would be to call a lawyer.

Without a lawyer, the IRS officers might intimidate you into agreeing to a strategy that you cannot afford but which makes their job easier. An attorney is able to certainly negotiate and get you a more flexible one in the event you are given tight datelines. Remember, there are lots of options that may be offered by the policeman. A common one in case related to payroll delinquent is to evaluate and assign you a retrieval penalty trust fund. For this to happen, an interview should be run to ascertain who is the actual offender between an individual and a company and having an attorney in this interview in Arkansas is a matter of necessity.

Un Filed tax returns may add up to mean thousands in interest costs and extra penalties as time passes, so act now to avoid paying more.

Have you forgotten to file your unpaid tax returns for a number of years? We can assist.

The W-2S and 1099 forms you receive for each tax year are essential when filing your tax returns that are back. In case you’re eligible to credits and deductions; you will need to assemble any other supporting document which will prove your eligibility to the claim.

In case you have any missing tax file notably within the past 10 years, then you need to request a copy from IRS simply by filing form 4506-T. Form 4506-T is the tax return transcript. You should make use of the form to request for 1099S, W-2S which should provide support for your tax write-offs. Nevertheless, you should not expect to get a duplicate of the initial file. IRS will give you a transcript including the info you should file your tax returns.

In addition, you must file your tax returns that are back on the initial forms for that tax year. Begin by seeking for them in the IRS website. After you have collected all the important documents, double check to ensure you are using the instructions associated with an identical tax year you’re filling returns for. Tax laws are constantly changing and using the wrong directions may need you to begin the filing procedure once more. Eventually, they must submit all of the forms to the Internal Revenue Service through the address given.

What to Do With Un-Paid Tax Returns

In case you have some additional income tax for the previous years, you must include as much payment as you can. This means you’ll reduce interest charges accumulation. Unlike the tax penalties which halt once they are at the maximum to accumulate, the monthly interests continue to pile up until the tax has been paid by you. They’ll send you a notice of the exact amount you need to pay as a fee and interest rate, after the IRS has received your tax returns.

You may need to work with all the IRS if you’re not able to pay your tax returns in full. However, you should note the past due debts and taxes that are back, can decrease your federal tax refund. Treasury offset program may use part or your whole federal returns to settle any unpaid state or national debt.

It might use component or your complete tax refund to pay some debts including unemployment compensation debts, delinquent student loans, and parent support. If you have filed tax returns jointly with your partner you might be entitled to part or the entire offset.

But if you owe any common responsibility payment, IRS can offset the liability against tax refund due to you personally.

What You Should Do If You Have Back Tax Returns

You can consult our BBB A+ rated Texarkana tax law company for help in case you have not filed your back tax returns for many years.|} Our team of experts in Arkansas is always ready to help you solve your problems and in addition they’re always ready to answer your questions.

Our Texarkana team can remove your wage garnishment within 24-48 hours

What is a Garnishment?

Should you owe the IRS back taxes and also don’t respond to payment notices or their phone calls chances are that you may be subjected to an IRS wage garnishment. In other quarters, it is also known as wage attachment or a wage levy.

The garnishment procedure is usually quite drawn-out, 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 in addition to more than one phone call with relation to the debt in question. Failure to respond to the phone calls and notices,automatically results in a ‘Notice of Intention to levy” being sent to your last known mailing address. You generally have thirty (30) days to touch base with IRS with regards to this notice till they proceed and forwarding the notice to your Texarkana company. After this notice was sent to the Texarkana company, you’ve got an additional fourteen (14) days to make a response before garnishment of wages starts. The employer generally has at least one pay period before they are expected to send the money, after receiving a notice of levy.

How Much Can they Take from My Wages?

IRS garnishment rules typically allow the Internal Revenue Service garnish or to deduct more or 70% of an employee’s wages; this is mainly done with the aim of convincing his representative or the employee to get in touch with IRS to settle the debt.

Wage garnishments are generally one of the very competitive and severe tax collection mechanisms and one should never take them lightly, as a matter of fact, they would rather solve tax issues differently and just sanction this levy when they feel they’ve ran out of feasible alternatives. Though paying off the taxes you owe the IRS is the simplest way out of such as situation, this is generally not possible because of wide array of reasons. First and foremost, you may not have the tax liability or the whole sum may belong to someone else or your ex spouse, you will be asked to show this though.

What should I do because of a wage garnishment?

Do pretty quick and you thus have to discuss any payment arrangements with the Inland Revenue Service. In this respect, it’s imperative that you simply get in touch with an expert who’ll allow you to easily get a wage garnishment discharge and stop or end the garnishment. We are a Texarkana BBB A+ rated tax firm with a team of highly competent tax lawyers with years of experience along with a long record of satisfied clients to demonstrate this. Touch base with us and we promise to get back to you within the shortest time possible, normally within one working day or less.

Other Cities Around Texarkana We Serve

Little Rock

Jonesboro

Fayetteville

Pine Bluff

Hot Springs

Fort Smith