If any of these are the case then you must consider seeking advice from with an experienced tax relief lawyer who can help you get out of major tax related problems. These legal representatives can assist you by providing you with all of their know-how and understanding in getting optimal possible tax relief. A lot of people know practically absolutely nothing about the tax guidelines and policies, and even less know the proper means to deal with tax debt issues.
If you really want tax reduction in your company then be sure to pick tax relief attorneys that have experience dealing with company taxes. Unless you are familiar with tax laws and policies, getting this kind of decrease is primarily most likely possible when you have an experienced tax relief lawyer on your side.
There are other crucial services like audit representation, tax recommendations, financial investment guidance, trust fund recovery and levy management which are provided by these lawyers. They have all the competence regarding policies, regulations and all the legal treatments related to tax charges. If you fail to pay your due taxes then IRS (Internal Revenue Service) can charge you one or more of the about 140 various types of tax charges.
Notice CP 161 Requesting Payment
If you have actually filed your taxes, you may be heaving a sigh of relief that everything is done and dusted which you do not need to fret about tax period for another year. Things are not always what they seem. What should you do if the IRS sends out a letter (Notice CP 161) requesting payment for overdue taxes?
Read the Letter Carefully
Prior to you run scared, make certain you check out the letter thoroughly. If you filed a joint tax return with your spouse, ask them to read the letter too so that a fresh pair of eyes can gloss over the letter to see if you have missed out on any vital details. You need to just act after you have actually completely digested the letter.
When you call the IRS, make sure you have Notice CP 161 with you for reference, along with proof of payment and other necessary files. You will be asked to call back if you do not have the essential documents to refer to when you call the IRS.
This will be looked into and validated if payment has been made. Sometimes, additional evidence is needed and you will have to send in copies of your canceled cheque or a bank statement which reveals when the money was debited from your account. However, if payment has not been gotten, you will have to make plans to pay any past due taxes before the target date passes.
The IRS has a legal right to demand payment of past due taxes. Make sure you make your payment before the deadline if you are in the wrong. Taxpayers who miss the target date will certainly not only be accountable for the past due taxes, but they will certainly also have to pay a penalty and interest on the money the longer the payment is overdue. However, if the IRS is at fault, it depends on you to call and validate that payment has in truth been received. Incorrect letters asking for payment that are sent out by the IRS from time to time can be cause of stress and anxiety and panic, however it is simple to align things out supplied you act swiftly.
More can be found here – IRS.gov:CP 161 (FAQs).