Florida Tax Debt FAQs
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If you're struggling with tax debt and have been contacted by the IRS, you're probably under a large amount of stress. As Tampa tax attorneys, we are here to help. You might feel as though you have no options and are just at the mercy of the IRS. We have been in your shoes and have helped hundreds of clients resolve their tax issues. When you're prepared to face your problems, you can be sure that we'll get you started on the right path by letting you know if we can help your case.
Why You Should Know Basic Tax Debt Facts
Understanding basic tax debts facts is important if you're battling the IRS. Understanding your rights will help you feel more in control of your situation and it can help you feel less anxious, too. You might be in a difficult situation, but you should know that a skilled Tampa tax lawyer should be able to help identify your best options.
Q:When should I hire a tax attorney?A:You should seek the counsel of a tax attorney if you have a tax audit, have tax problems, have received notices from the IRS, or are under investigation for tax fraud.
Q:What reasons would the IRS have for auditing me?A:There are a few reasons, including mathematical errors, claiming numerous charitable operations, claiming several losses on your Schedule C, reporting partial income, claiming several business expenditures, and claiming deductions for a home office.
Q:What is a bank levy?A:A bank levy is a way for the IRS to garnish an unpaid debt by having your bank freeze the money in your account. Once the bank receives the levy, it freezes the money in your account for the next 21 days.
Q:What should I do when a bank levies our bank account?A:Call a Tampa tax attorney. The IRS issues a levy in the hopes that you call them within the next 21 days to negotiate a repayment plan.
Q:Is there a statute on limitations regarding back taxes?A:Yes, there is but it's tricky. Generally speaking the IRS has 10 years to collect on your back taxes. Once a decade has passed, the IRS is legally prohibited from taking action against you.