Welcome back to the latest installment of Nemeth IRS News, where we address the common issues surrounding IRS tax debt and the steps you can take to solve this problem.

In today's episode, we're showcasing the importance of using a proven tax professional to work alongside as you take on the IRS. Don't let your tax debt keep you up all night! Lean on the experts at the Law Offices of Nick Nemeth for guidance through these tough times.

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:30 - Welcoming Jamie Flores to the show

2:37 - Is there a difference between tax debt and back taxes?

3:45 - The difference between an IRS tax attorney and an attorney

4:45 - Specific ways an IRS tax attorney can help someone with tax debt

7:00 - You should always deal with your tax debt immediately!

9:21 - What could happen if you don't pay your taxes

10:25 - Collectors can seize bank accounts and passports

11:36 - Closing remarks

Connect with Nick Nemeth and Jamie Flores:

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No one enjoys paying taxes. Plain and simple. But as the saying goes, there are two certainties in life: death and taxes. So, taxes are an inevitable part of life.

If you don’t pay your taxes, something called “back taxes” accumulate. And as time passes, penalties and interest also pile on, making the overall debt snowball in size. Rest assured however, that if you are struggling with growing back tax debt, there are many ways to regain control over the situation.

In the latest installment of Nemeth IRS News, we're covering the various strategies at your disposal should you fall into a situation where you owe back taxes to the IRS.

Timecodes:

0:06 - Introduction and overview on the topic of the day

2:36 - What are back taxes?

3:06 - What to know if you can't pay your back taxes

4:26 - The penalty for not filing your tax returns

6:09 - What if you don't have the accurate and detailed records needed to prepare your tax returns

7:48 - The six year rule

9:10 - What happens when you can't pay your back taxes?

10:45 - Additional advice for someone who can't pay their full tax bill

11:55 - There are options and solutions available for you!

13:22 - Closing remarks

Connect with Nick Nemeth and Jamie Flores:

Website

Facebook

YouTube

LinkedIn

Owing taxes to the IRS is no laughing matter. Between the penalties and other fees that add up, you may find yourself facing a bill larger than you’d imagine.

In the latest installment of Nemeth IRS News, we’re going to discuss what steps you can take if you find yourself owing taxes. And as always, if you find yourself facing this issue, we encourage you to contact the Law Offices of Nick Nemeth. Our IRS tax attorneys can help!

So sit back, relax, and enjoy another informative conversation!

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:50 - Jamie Flores sets the scene

2:24 - The most common reasons someone might owe money to the IRS

4:20 - How your tax bill can grow and worsen as time goes on

7:00 - The recommended steps to take if your tax bill is higher than you anticipated

8:03 - The penalties for not filing your tax return on time

12:00 - Installment agreements and an offer-in-compromise

14:45 - How an offer-in-compromise can be achieved and who qualifies for this

17:27 - Closing remarks

Connect with Nick Nemeth and Jamie Flores:

Website

Facebook

YouTube

LinkedIn