Divorce and IRS: Chicago IRS Debt Relief
Could the IRS Make You Get Divorced? In Chicago and need IRS Relief for Tax Debt?
Numerous studies have shown that the money problems are the #1 source of arguments in marriage.
Money problems caused by credit debt, loss of a job, unforeseen expenses – you name it…it’s all stressful on a marriage.
But if you toss an IRS problem into the mix, you may have a recipe for disaster. The IRS has more far-reaching power than any collection agency could ever have.
No other entity has the power to dip into your bank account, garnish your wages, seize your property, put a lien on your house…and possibly put you in jail.
So if money problems cause arguments, IRS problems can cause absolute fallout.
Of course, if divorce follows as a result, it introduces a whole host of other problems emotionally and financially.
Not to mention the damaging effects that marital problems and divorce has on your children… So the IRS can’t cause a divorce, but they sure can contribute to one.
You owe it to yourself, your spouse and your children to put and end to this madness and get on with your life.
If you are in trouble with the IRS or have received notices that you owe taxes, we can help. call Opem Tax Resolution – The Law Office of Steven A. Leahy, PC (312) 664-6649. Call Now to schedule your FREE 1 hour Consultation!
Chicago: IRS Tax Help
In the Chicago area and owe taxes? You may not even know you have an IRS tax lien until it’s too late.
The IRS uses liens to get people to pay the taxes owed. It’s one of the many tools in their arsenal and for many people it’s one of the worst penalties the IRS can inflict. It does silent damage to your life and your credit before you figure it out.
Simply stated, a lien is a security held against your personal and/or investment property by the IRS. And it can make your life miserable.
If the IRS places a claim on your property as a tax lien,it shows up on your credit report and can greatly damage your credit score.
The worst part is that you may not even be aware of the lien until you go apply for a credit card, car loan, home equity loan or to refinance. By that point lenders are hesitant to loan you any money.
Plus, a tax lien may make it very difficult to sell your house. A buyer will be reluctant to buy since the lien comes with the property and becomes the buyer’s problem if you don’t take care of it.
If you’ve had a lien placed on your property already, or if you’ve been served a Notice of Federal Tax Lien – you know that trouble’s just around the corner. We can help. call Opem Tax Resolution – The Law Office of Steven A. Leahy, PC (312) 664-6649. Call Now to schedule your FREE 1 hour Consultation!
IRS Levies = Seizure of Your Property (Here’s What to Do) If you owe the IRS money and aren’t actively negotiating with the IRS, then it is likely they will use a levy against you.
A levy is the legal taking (seizure) of your personal property by the IRS to satisfy your tax debt. If the IRS is taking part of your paycheck the levy is called a garnishment.
And the IRS has the power to levy anything you own.
They can levy against or seize your:
House
Boat
Car
Motorcycle
Real Estate…
And the list goes on.
The IRS can also garnish anything that is owed to you. This includes:
Wages
Accounts receivable
Commissions
401(k)s
Individual Retirement Accounts (IRA’s)
Social Security… and more
You don’t want this to happen. Things get ugly when your personal property gets seized and/or you bank account gets “raided”.
Checks start to bounce. Payments don’t get paid. Cars get repossessed. Houses go into foreclosure, and credit ratings get destroyed.
If you haven’t paid your taxes or you haven’t filed, this could happen to you. The IRS has significantly stepped up levies and garnishments since 2004. And they show no sign of stopping.
If you are in trouble with the IRS or have received notices that you owe taxes, we can help. call Opem Tax Resolution – The Law Office of Steven A. Leahy, PC (312) 664-6649. Call Now to schedule your FREE 1 hour Consultation!
Tax Help Chicago: IRS Offer in Compromise Help
The (Untold) Truth about IRS Offers in Compromise
Is it really possible to pay the IRS “pennies on the dollar” and have the rest of your tax bill forgiven?
Yes. It’s possible. In theory.
The only problem is it isn’t too likely to happen.
An Offer-in-Compromise used to be the only legitimate way to negotiate an actual lowering of the amount of taxes you owe.
But there has been a lot of abuse of this method in recent years. And the IRS has cracked down. In fact, only 15% of Offers-in-Compromise get accepted by the IRS.
The best way to know whether or not this solution is one that works for you is consult with a tax attorney.
The good news is that if an Offer-in-Compromise is not the right fit, there are several other options to choose from that are equally effective.
These include the ability to make payments to the IRS and sometimes these payments may even be reduced based on your income. This reduces the amount of debt you owe.
There is no sense in pursuing an IRS payment option, like an Offer-in-Compromise, that isn’t right for you and will most likely fail.
When dealing with the IRS you should always get the advice of a tax professional who can help you determine the right plan for your situation.
If you are in trouble with the IRS or have received notices that you owe taxes, we can help. call Opem Tax Resolution – The Law Office of Steven A. Leahy, PC (312) 664-6649. Call Now to schedule your FREE 1 hour Consultation!
Owe the IRS Back Taxes or Have a Notice of Levy? One of the most common questions we get is “What are back taxes?”
Back taxes are simply taxes that you owe that you didn’t pay when they were due.
They may have occurred because of income not being reported, or maybe because there wasn’t enough money to pay them when they became due.
Whatever the reason, the IRS will find a way to collect… eventually.
Sometimes the IRS doesn’t send notices for a while. If nothing seems to happen or they don’t get ‘caught’ some people start believing that they’ve somehow under the radar of the IRS and that they are getting away with it.
But that isn’t the case at all.
Eventually the IRS catches up with everybody.
Here’s what happens when they do:
1.You’ll get sent a Notice and Demand for Payment from the IRS.
2.You either pay or don’t pay the tax.
3.If you don’t pay, you’ll be sent a Final Notice of Intent to Levy and Notice of Your Right to a Hearing at least 30 days before the levy.
That’s when you know you’ve got big problems.
In 30 days, the IRS is going to start helping themselves to the money in your bank account. If you’ve received a Final Notice of Intent to Levy, you need to take action immediately.
If you are in trouble with the IRS or have received notices that you owe taxes, we can help. call Opem Tax Resolution – The Law Office of Steven A. Leahy, PC (312) 664-6649. Call Now to schedule your FREE 1 hour Consultation!