IRS tax problems tend to get very overwhelming and stressful. IRS tax problems can result in a tax levy notice by the IRS, in which case the IRS can seize your property. Alternatively, you may get a tax lien notice by the IRS in which the government can assert its rights to your assets and property.
Here are some of the most common IRS tax problems that you need to avoid at all costs.
Error in Filling Tax Form
Filling a tax form is not easy. Errors can easily be made when filling in the numbers or your information. Not rectifying these mistakes on time can result in huge penalties. Make sure to double-check the tax form before submitting it to avoid getting penalized. Pay special attention to the following:
- Social security number
- Bank account details
- Dates and signatures
Failure to File a Tax Return
Inability to file a tax return on time can result in massive penalties, which can go up to 25% of the unpaid amount. Failure to file a tax return at all can result in tax lien and tax levy notices.
Unpaid taxes can result in severe penalties. Even if you can’t afford to pay taxes when due, make sure to file the tax form to avoid being penalized. You can file for a tax installation agreement request or an application for an automatic extension.
Professional Tax Advisors in West Palm Beach
If you receive a letter or notice from the IRS regarding any of your tax problems, get in touch with an experienced taxation professional to sort the matter.
The trusted tax advisors at Advance Tax Defense and Accounting can help resolve all IRS tax problems, including a tax levy and tax lien. The company ensures affordable and efficient services throughout Palm Springs, FL, to ensure client satisfaction. The company provides a range of services, including bookkeeping, accounting, outsourcing, payroll, and cash flow management. The accounting professionals at the company ensure proper and efficient maintenance of all your financial records.
Contact the company now to receive a free consultation.
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