Did you know that the government in Louisville, Kentucky, provides literacy education for citizens? The combined work of the Office of Resilience and Community Services over the years has helped educate over 10,000 Kentuckians since 2011!
One topic they don’t cover, though, is tax trouble. If you, like many other Kentuckians, struggle with tax problems and don’t know where to turn, then we’re here for you.
Learn more about how a Louisville tax attorney can help you with all your tax needs below.
Louisville Tax Attorney
First things first. You might be wondering what exactly a Louisville tax lawyer does and how they can help you. A tax attorney is qualified to help clients comply with tax laws and codes. Compliance isn’t the only goal, though. Tax attorneys also help clients take advantage of tax laws to maximize deductions, exemptions, and credits.
The help doesn’t stop there. If you end up getting into a tax dispute with the IRS, then your tax attorney can represent you throughout the process. A lawyer can also help you navigate the process of tax preparation for your business or your individual taxes. Further, they can help you learn more about your rights and options if you end up with a tax problem in the future.
Tax Problems in Louisville, KY
Are you wondering what types of tax problems we’re referring to? Louisville residents might face several. The majority start when you don’t know how to file taxes, or you file them late, or you outright fail to pay them at all. All of these behaviors have consequences, including financial fines or other types of penalties.
Here are some of the most common tax problems reported by taxpayers:
- Unfiled tax returns
- Inability to pay a tax bill
- Significant IRS penalties and interest after not paying a tax bill
- Getting informed that an audit is pending
- Tax levies
- Tax liens
- Wage garnishments
- Failure to pay
- Unpaid payroll taxes
A tax audit is an in-depth review of your taxes. The IRS does randomly select taxpayers to audit, but the chances of an audit increases if the agency discovers suspicious activity. It also increases if the IRS believes you aren’t paying your fair share of taxes.
Consequences of Tax Problems
When you don’t pay a tax bill, don’t expect it to disappear. On the contrary, it will grow in size. That’s because the IRS will add penalties, interest, and fees to the amount you don’t pay.
A tax levy happens when you fail to pay your taxes for an extended time. If the IRS can’t get in touch with you, then they have a right to issue a levy. This levy is the legal authority to seize your property to pay for an IRS debt. To avoid this type of situation, you need to address the IRS when they attempt to reach out to you. If you get a tax levy notification, then get in touch with tax experts ASAP to avoid losing your property.
Tax liens are also a product of failing to pay your taxes. A lien is a claim against your property by the IRS. It doesn’t mean that your property will immediately get seized, and it gives you an opportunity to pay your tax bill and remove the lien.
Wage garnishments happen after you fail to settle a tax debt. If the IRS feels you make enough money to pay your taxes but you simply haven’t, then they may decide to issue a garnishment order. This means the IRS will get a slice of your paycheck before you even get it.
If you’re facing one of these issues, then don’t make the mistake of thinking you’re out of luck. These problems are exactly what our tax professionals can help you with. Learn more about our tax relief services below.
Tax Relief Services in Louisville, KY
Just as taxpayers can face a host of tax issues, there are plenty of tax relief solutions that you can lean on, too. If you’re struggling to address or pay off your IRS debt, then consider the following options:
- Offer in Compromise (OIC)
- Expiration of statutes
- Innocent spouse relief
- Penalty abatement
- Currently Non-Collectible (CNC)
- Bankruptcy
- Installment agreement
- Tax audit appeals
Many of these options are payment plans that will help you settle your tax debt with the IRS over time. Some of them, though, can eliminate your debt load completely. An expiration of statutes, for instance, will eliminate your bill on the basis that too much time has passed and the IRS can no longer collect the debt. Innocent spouse relief relinquishes a spouse from a former debt. And CNC status will prevent the IRS from attempting to collect from you.
Tax Preparation Services in Louisville
You might not have encountered a tax problem yet, but you may be struggling to figure out how to prepare and file your taxes. If that’s the case, then don’t hesitate to research tax preparation services in Louisville. These tax experts can make sure that your taxes get filled out accurately and efficiently. Even better, they’ll be liable if your return does end up having a mistake in it.
CPA Services in Louisville
While a tax lawyer in Louisville can help with tax problems and a tax preparer can help you file your taxes, a CPA can help you accomplish all the bookkeeping and gruntwork that goes into preparing your documents for taxes.
Contact Tax Group Center Today
Now that you know more about how a tax attorney in Louisville can help you, it’s time to act. Living with tax debt or in fear of IRS penalties is no way to thrive. If you’re ready to turn your situation around, then we want to help you reach your financial goals.
Our qualified and trained experts are available 24 hours a day, seven days a week. Our team is made up of certified tax consultants, CPAs, tax attorneys, and enrolled agents. We strive to provide the best and most comprehensive financial assistance to all of our clients. Contact us now to learn more about how our services can help you.
