North Dakota Tax Attorneys
With tax filing deadlines approaching, you might be concerned about one or more of the various issues that often arise when dealing with the complicated area of federal tax laws. Whether you are an individual, an employer, a farmer, a sole proprietor, or an overseas investor with US bank accounts, the IRS has a specific set of statutes that apply to you, and every attempt is made to ensure that these laws are followed.
There are countless situations which could land you in trouble with the IRS and if you are facing the possibility of a federal tax violation, it can be a very troubling and overwhelming prospect to face alone. The fact that federal tax law is a highly specialized and particularly complex subject might add to your sense of despair and helplessness, but fortunately, there are often options and steps you can take to resolve the problem with the IRS before it’s too late.
In matters involving the specific codes and statutes of federal tax law, finding the solution is not an easy task. In addition, there are often frequent changes made to the regulations and procedures related to these laws that can be very confusing which is why it’s usually best to consult a federal tax lawyer or specialist for guidance. At Schwab, Thompson & Frisk, we understand the complexities of federal tax law and as licensed professionals in North Dakota, we can help you determine the best course of action so you can avoid further legal proceedings as well as the potential loss of your income, your assets, or your business.
Problems related to federal taxes can and often do result in legal litigation which can carry some severe penalties if you are found to be in violation of the federal tax law. The following are some of the most common federal tax law issues which our team can help you with.
One of the most common situations facing taxpayers is owing a large sum to the IRS which you cannot afford to pay. This can result from an accumulation of back owed taxes from several years or perhaps you’ve been particularly hard hit this year and paying the IRS will pose as a financial hardship for you and your family. Whatever the circumstances may be, it could be tempting to ignore the demands for payment and hope that you’ll slip under the radar but not only would this be just a temporary solution at best, but it could also result in even more serious consequences such as a charge of tax evasion. Avoiding the inevitable will only make it worse, but we can help you by reviewing your situation and advising on your alternate options.
Liens and Levies
If you owe taxes and didn’t file an extension form, the IRS has a tool which they employ to hasten the payment of back owed taxes and it’s called a tax lien. A tax lien is a legal claim that the IRS can make on your personal property, your home or other real estate, your bank account, and/ or any other personal assets that you own. The lien serves to protect the government’s monetary interest in your outstanding debt and with the lien, your property and assets can be seized by a tax levy if your debt goes unpaid or unresolved. If you are facing a tax lien or a possible seizure of your assets by the IRS, it’s imperative that you review your options quickly to avoid the lien or levy or get it released. We can help you understand what you need to do before the IRS takes further action.
Tax Audit Notices
If you’ve received a tax audit notice whether it be for your personal income taxes or if you have employees and have received a payroll tax audit notice, this is a serious situation which could have devastating consequences for you or your business. We can help you with gathering the necessary records and documentation so you are fully prepared and in some cases, we may even be able to can help eliminate the need for a full-blown audit by responding to the inquiry on your behalf. In other cases, our federal tax law specialists can help you understand what sort of evidence you need to support your claim or guide you on how to submit an appeal to the IRS Appeals Division.
Innocent Spouse Relief
If your spouse (or former spouse) has reported income erroneously or omitted income on a tax return, you can be relieved of the resulting tax obligation, interest, and even the penalties by filing for Innocent Spouse Relief. Give us a call if you are struggling with tax obligations due to the improper filing of your joint taxes by a spouse or former spouse. You could be eligible for one of the several types of spousal relief depending on your qualifying conditions, and we can help determine your eligibility and prepare the required evidence to successfully submit your claim.
Other types of issues we can help you with include tax evasion, tax fraud defense, wage garnishments appeals, payroll tax disputes, tax preparer violations, business tax guidance, and more. The complicated areas of US business and income taxes often require specialists who not only know the ins and outs of federal tax law but also have a proven track record of success with these types of cases. At Schwab, Thompson & Frisk in West Fargo & Bismarck our aim is to fight for your rights and help you make the most informed and optimal decisions for your future.
Contact Us Today To Solve Your Tax Problems
If you have problems with the IRS, we understand that the road ahead can be paved with uncertainty, fear, and confusion. Our team is committed to help you find the solutions you need to resolve your tax problems in the most efficient time frame and at a cost you can afford. Contact the offices of Schwab, Thompson & Frisk in West Fargo & Bismarck for tax help today.