It can happen to anyone. Getting behind on your taxes is a far too common occurrence. Yet tax debt can often be overwhelming, threatening your financial security and making it hard to keep up with your other bills. If you owe money to the Internal Revenue Service (IRS), there are options. In some situations, the […]
Can You Go to Jail for Not Paying Your Taxes?
On October 17, 1931, Judge James H. Wilkerson sentenced Chicago gangster Al Capone to 11 years in federal prison for income tax evasion. The penalty was unusually severe because Capone was really being punished for turning Prohibition-era Chicago into a war zone during the 1920s. Unable to convict him of murder, the authorities worked with […]
Can You Negotiate Back Taxes with the IRS?
No one likes to owe the IRS. The balance owed seems to linger over your head, and each year you pray that your next return will yield a refund rather than more owed to the IRS. You work hard to pay off the balance; you even take extra from your paycheck. But the penalties and […]
IRS Tax Liens
IRS tax liens can be broken down into two categories: (1) unfiled liens and (2) filed liens. Unfiled IRS Tax Liens Unfiled IRS liens are also known as secret liens or general tax liens. They are authorized under 26 U.S.C. section 6321. They’re secret because they arise automatically once you owe money to the IRS, […]
6 Options If You Owe Money to the IRS
Tax Attorney Helping Individuals who Owe the IRS in Bergen County and all of New Jersey If you owe money to the IRS, there are several options available to you. The most important thing to keep in mind is to act. If you ignore the problem, it will only make matters worse. As an arm […]