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“In this world nothing can be said to be certain, except death and taxes.”
— Ben Franklin, Letter dated November 13, 1789 to Jean Baptiste LeRoy
Truer words were never spoken! You may not realize it, but you are paying taxes almost every day. Federal income taxes, social security taxes, and Medicaid taxes, and that’s just while you are working. In Texas there are sales taxes on many items. You pay a gasoline tax when you pump gas. If you stay in a hotel you pay an occupancy tax. Texas has property taxes if you own a home or land. Taxes are almost ubiquitous. But what happens when you fail to pay your taxes? The government, both federal and state, have a wide range of options when it comes to pursuing tax debtors for delinquent taxes.
You may think, “that can’t happen to me, only rich people have to worry about avoiding taxes.” You’d be wrong. Many people use tax preparers and think they will be fine. That’s not necessarily true, either. Often times, it may be the inexperienced person making ten dollars an hour that makes the mistake. Who does the IRS go after when that happens? I’ll give you a hint-it’s not the tax preparer.
One common mistake is married couples filing separate returns and both of them claiming head of household. This is not allowed. Even if you are separated, you must file Married Filing Separate. If you claim head of household and weren’t supposed to, the IRS can come after you for back taxes, including penalties, fees, and interest. This can amount to tens of thousands of dollars. If they believe you did it with an intent to defraud, it can even mean prison.
The IRS can garnish wages, set-off your tax refunds in the future, and can even put a lien on your property, preventing you from selling it without paying them first. All is not lost, though. There are ways to work with the IRS to reduce the amounts you owe. Whether through bankruptcy or negotiating directly with the IRS through an offer in compromise, there are solutions to federal tax issues, but don’t delay, the fees and interest only add up.
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Call 254-690-5688 or reach out to our accident lawyers online. We look forward to serving your legal needs.