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    Tax Penalties Wall & Associates Can Help You Fight

    Last updated 3 days ago

    When you receive a notice from the IRS claiming that you owe tax debt, you may be shocked to learn that you’re also on the hook for substantial penalties. The IRS has been known to demand excessive penalties from millions of taxpayers each year, which amounts to billions of dollars. Many people simply try to pay the added penalties, but you can fight back. The tax relief specialists at Wall & Associates, Inc. help countless people challenge tax penalties each year. Here’s a quick look at just a few of the penalties our tax relief specialists can challenge.

    Filing Late
    Sometimes individuals simply forget to file their tax returns on time or they may underestimate the amount of time it takes to prepare a return. Unfortunately, if the IRS thinks you’ve filed your tax return late, you could be subject to a failure-to-file penalty. The penalty is calculated based on your tax debt. Typically, it’s five percent of your tax debt for each month that your tax return is late, up to 25%.

    Paying Late
    Filing late and paying late often go hand-in-hand. Taxpayers who are suspected of paying late are charged a penalty of 0.5 percent of the unpaid taxes each month that the payment is late. The IRS can increase this penalty after issuing notices such as a demand for immediate payment or a notice of intent to levy. The tax relief specialists at Wall & Associates, Inc. may be able to reduce this penalty for taxpayers who filed on time and have an installment agreement.

    Understating Tax Debt
    Our tax relief specialists can also fight the substantial understatement penalty, which is used when a taxpayer is suspected of understating the amount of tax owed. This penalty amounts to 20 percent of the tax understatement. If you did not intentionally understate your taxes but the IRS believes that you did, contact the tax relief specialists at Wall & Associates, Inc. today.

    Here at Wall & Associates, Inc., we understand that the substantial penalties can make it all but impossible to pay off your tax debt in full. Fight back against the IRS by working with our tax relief specialists. Call our tax consultants today at 800-337-6699 for your free consultation.

    Not a solicitation for legal services.

    When Can Wage Garnishments Occur?

    Last updated 11 days ago

    To most people, wage garnishment comes as an unwelcome surprise. If you have failed to pay any amount of your income taxes, however, the IRS will eventually take the funds directly out of your paycheck. According to the Consumer Credit Protection Act, you cannot have all of your paycheck garnished. The IRS cannot touch your earnings that have to be deducted for Social Security, unemployment insurance, retirement (if you are a state employee), and federal and state taxes.

    Over and above taking money directly from your paycheck, and all the pain and inconvenience that can cause, the IRS can also levy your commission income, your retirement accounts, your bank accounts, and even the cash value of your life insurance!

    If you owe money to the IRS, contact the tax negotiation specialists at Wall & Associates, Inc. Our tax experts have helped numerous people stop wage garnishment, prevent wage levies, and resolve their tax problems. To schedule a free consultation, call us today at (800) 337-6699.

    Not a solicitation for legal services.

    What You Need to Know About Bank Account Levies

    Last updated 15 days ago

    If you owe money to the IRS, money may be taken out of your bank account in order to satisfy the debt. This is known as a bank levy.  However, the IRS does have to provide you with timely notice of their intent to take money from your account in order to give you a chance to resolve the debt first. A bank account levy should not be confused with wage garnishment, which involves taking funds out of your paycheck.

    Are you in trouble with the IRS? The tax relief experts at Wall & Associates have extensive experience negotiating directly with the IRS to prevent bank account levies. To set up a consultation to discuss your tax problems, call (800) 337-6699 today.

    Not a solicitation for legal services. 

    Wall & Associates Client Testimonial

    Last updated 1 month ago

    • on Wall & Associates Client Testimonial
    • I wish to express my deep appreciation to the team that handled my case with the IRS. 

      I felt totally overwhelmed by the way the IRS handled my case and the total professionalism exhibited by the team put me at ease. 

      I have every confidence that the team would have handled my best interest should the IRS not... More

      Stephen

    Wall & Associates Client Testimonial

    Last updated 1 month ago

    • on Wall & Associates Client Testimonial
    • This letter is a long time coming! I apologize for delay, but wanted to fulfill my promise to write you in thanks. Brava! Brava! Brave to the Wall & Associates team!

      After almost 4 years, you and your team resolved my outstanding issues with the Internal Revenue Service (IRS)!!! My liabilities with the IRS were dogged by... More

      Stephanie

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