IRS back taxes are referred to as tax dues that are being unpaid by an individual or a business. The taxes can accumulate and thus can create problems for the taxpayer through penalties or fines, which can lead to potential damage to the financial health of an individual.
Back taxes can only come into light when a person misses the tax payments of the prior years, and thus, the IRS charges a hefty penalty on the payment due process. The cause of the payment failure can be genuine, and to present that correctly in front of the IRS, you need the best IRS Tax Attorney in business.
Leading Tax Group can guide you in this regard, and the team of Attorneys and Tax Lawyers are there to help you reduce the significant amount of fines that you have gathered in the past few years. Everyone deserves a second chance, and we believe our genuine taxpayers need the right guidance to come clean from any tax discrepancies.
If you are interested in a tax settlement or if you have received a settlement offer from the IRS, now is the time to call Leading Tax Group. Our tax settlement professionals (whom include former IRS tax attorneys) are always ready to work with you and provide you with the information and representation you need.
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Taxpayers can accumulate IRS back taxes due to different reasons which include unintentional mistakes and wrong interpretations of tax requirements. The main reason behind IRS back taxes emerges when individuals fail to file tax returns during the proper deadlines because of either ignorance or unintentional mistakes. Individuals who neither correctly determine their earnings nor disclose specific sources of income, which include freelance work rental earnings and investment dividends, end up paying less in taxes than they actually owe.
The Tax Attorneys of the Leading Tax Group are the ones who are proficient in handling such situations and protect the client from tax liens and hefty penalties. Taxpayers can face severe consequences if they leave IRS back taxes unaddressed. From wage garnishments to damage to credit scores, all can happen.
Therefore, if you are the one who is facing an IRS back taxes issue, then you have nothing to worry about as the track record of the former IRS Attorneys of the Leading Tax Group is spectacular in solving critical cases and providing capital protection to our clients.
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A tax liability that exceeds the amount initially paid can occur through incorrect deduction or credit claims, no matter if the error is intentional or unintentional. Both incorrect tax return computations and a lack of proper tax update handling will make the situation worse. Self-employed individuals who do not make estimated tax payments, together with individuals whose employers withhold inadequate taxes from their employment income, need the help of an expert to understand the tax mistakes they have made.
In California, whether you have a tax debt with CDTFA or a back tax issue with IRS it’s the responsibility of the great team we have at the Leading Tax Group’s office to take you through the entire process without you getting the unnecessary stress. We believe our biggest advantage of having former IRS tax Auditors and Attorneys provides us that edge in this department which you can take advantage of and come out from such overwhelming situation.
Headquartered in Encino, California with multiple local branch offices in your backyard to serve you at your convenience. Leading Tax Group can schedule a face to face consultation to represent your case with the IRS, FTB, EDD, as well as CDTFA Audits.
Unreported or underreported income, withholding the total amount of the annual income, or claiming some inaccurate deductions are all reasons for getting an IRS back tax notice.
No, the IRS doesn’t go that aggressive in the initial phase of the notice, but failure to make back tax payments after several notices can instigate the IRS to go for the tax lien route. Therefore, it’s better to address back taxes issues earlier.
IRS doesn’t directly report to the credit agencies, but a tax lien due to unpaid back tax notice can create damage to the credit score.
If you receive a back tax notice then it’s best to find out what mistake you have made in previous filing. If the amount is small, then it’s better to pay the unpaid due. Otherwise, it’s best to get professional and legal help.
Yes, the IRS has the authority to impose penalties and interest and take the necessary actions to recover the back taxes.
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