Serving Individuals and Businesses in Morristown, NJ and All of New Jersey
Morristown, NJ is one of the most historically rich towns in New Jersey. Morristown Green and Morristown Museum serve as reminders of the towns deep historic roots. Today, Morristown hosts tons of different businesses. Our firm helps Morristown residents and businesses with tax issues, including:
- IRS Installment Agreements
- IRS Offers in Compromise
- IRS Audits
- NJ Audits
- NJ Collections
- Disclosure of Foreign Assets
- Payroll Taxes
Frequent Asked Questions (FAQs)
What Is the IRS Fresh Start Program?
We receive many calls from taxpayers asking about the IRS Fresh Start Program. They all want to know “if they qualify.” The IRS Fresh Start Program refers to several changes the IRS made to make it easier for taxpayers to pay their back taxes. For instance, the IRS raised the lien threshold amount to $10,000, meaning if you owe less than this the IRS generally will not file a lien. The IRS also expanded the streamlined installment agreement threshold to $50,000. They loosened some rules to qualify for an offer in compromise. But there are no special requirements to qualify for the IRS Fresh Start Program. The program merely refers to changes the IRS made that affect all taxpayers.
When Would I Need to File an Amended Tax Return?
An amended tax return would need to be filed if you learn of any error on the originally filed tax return. The error could be in your favor or the IRS’s favor—either way, the return should be corrected. Individuals can file amended returns using the Form 1040x. The IRS is more likely to audit amended returns that decrease the tax liability. This shouldn’t prevent you from correcting the return but make sure all your books and records are in order to support the changes.
Does Filing an Extension Extend the Time to Pay?
No. If you file an extension for your individual taxes, it only gives you additional time to file the return. It does not give you additional time to pay the taxes. If you do not pay the tax due by the April 15 deadline, interest and penalties will be added to the tax. Interest and penalties will continue to be added until you pay the amount due in full. You should have a draft or at least an idea of the tax due by the April 15 deadline so you can make an estimated payment. If you overpay, you’ll get a refund once the return is filed and processed.
Can I Get a Reward for Turning in a Tax Cheat?
Maybe. If you provide credible information to the IRS that leads to the collection of the tax, you could get a reward. Generally, the amount of taxes, penalties, and interest needs to exceed $2 million and the tax cheat must make more than $200,000 a year to be eligible. If those and some other qualifications are met, you could receive 15-30 percent of the amount collected. But don’t expect a quick payoff. It takes years for the IRS to collect the amount owed.
Why Paladini Law?
1. Free Phone Consultations
Call us at any time for a free phone consultation. We do not pressure potential clients into hiring us, but try to show people who we are and how we handle cases.
2. Lawyers for People with Tax Problems
Paladini Law only handles tax cases. We do not handle any other type of case, meaning we can constantly refine our practice.
3. Prompt Responses
We return all contacts within 24 hours. There is no waiting days or weeks for a response from your attorney. Be confident knowing your questions and concerns will be answered promptly.
4. Clients Love Us
Here’s what one client has to say about her experience with us:
Brad helps make tax issues and concerns less daunting and does so with ease and professionalism. He was so thorough in explaining the whole process and has helped me with various issues ranging from simple to more complex. He is genuine, reliable and extremely knowledgeable. I would recommend Brad to anyone looking for a trustworthy and knowledgeable tax attorney. -Daniela
5. We’re Flexible
Life doesn’t operate on a 9-5. Sometimes you need a Saturday meeting, or an “after hours” phone consultation. At Paladini Law, we are flexible to your needs. Whether it be meeting at your business, a flexible payment plan, or weekend conference call, we are available to meet your needs and unique schedule.