If you are running a business then you know that you are required to file and pay your share of taxes. The tax world can be difficult to understand and to navigate with rules and breaks that can be used depending on how much you make, what you sell and what you donate. It is best to hire a professional to do your taxes so that they are done right. One thing that you want to avoid at all costs is to have a tax lien filed against you. The IRS actually sends out about a million liens each and every year. You can end up getting a lien on your property or business from not paying your taxes or not paying all the taxes that you owe. When you experience a tax lien you want to work with an accountant that has expertise in have them released and taken care of. Mark Dicus & Company outlines how to address a tax lien.
What is a Tax Lien?
This is a filing that occurs when the IRS finds that you owe them money. You may have just put off paying your share and they have caught up and put a lien your property. This filing means that the IRS is not first in line to get the money they owe and they can go to great lengths to get it. The IRS lien tells other people that you might have a note with that they are going to get what they are owed and this means they can start to sell off your property and collect the money. They can sell off property such as your equipment, building, and even things such as trademarks. In some businesses depending on how they are set up they can also sell your residence and your vehicles as well to get the money that is owed. This can be a scary situation and you want to ensure that you act fast to take care of it with a professional.
How Can You Settle Your Tax Debt?
The good news is that there are some things that you can do about a tax lien. One of the newer laws is that an IRS tax lien is not something that can affect your credit report. This means that you have all the opportunity to continue to work and pay your debt. The other good news is that the effort that it takes to sell off your property is not always something that the IRS wants to have to do. They are in the business of taxes not estate sales so they will likely make a deal with you. This does not mean that you can call and tell them just anything, you need to work with a pro.
Tax Planning, Preparation, Filing, Resolution & More in Summerlin, North LV, Henderson, Lone Mountain Village & Greater Las Vegas, Nevada
You can talk with an accountant that has the ability to work the IRS on your behalf. They can file an appeal with the IRS to grant you additional time as well as determine the amount that is actually due. They can work on a payment plan that you can handle so that you are not losing your business. They also know the ins and outs of the lien and can use their expertise to get you out and make sure that the lien has been removed from your property. Mark Dicus & Company can work with you to take care of your tax lien and avoid them in the future. Call us today!