Tax Seizures – How to Avoid Them
Everyone who is earning regularly must pay his taxes. Even those non-regular earners like per event only or per project are still taxable though this will also depend on the amount of money earned. The IRS or Internal Revenue Service is the agency that is responsible to deal with individuals’ taxes. They have the power to impose and even do property seizures in the event that one will not pay his taxes after a number of notifications. This is called levy. If you are running a business, then you are taxable and failure to do so might forfeit your license to do business.
All your declared assets like personal and real estate are subject to levy by the IRS or they can be seized upon failure to pay your taxes. In fact, even if the assets you have that are in the possession of another person or another entity can still be seized by the IRS. This even includes wages, retirements and similar commodities.
If by chance you miss to pay your taxes even unintentionally and the IRS sent you a number of demand letters already, that’s the time where the scenario described above will take place. Of course you can also file an appeal especially if you disagree with the amount of taxes imposed by the IRS. Most of the time though, the court will side with the IRS. But still you can give this a shot.
The bottom line here is. Dealing with taxes is quite complicated. There are terms that might not be easy to understand to ordinary people. As running a business is already time-consuming and brain-draining for that matter, you can focus more in bettering your managed company by hiring an accounting firm to deal with your taxes. Jeffrey Fleurinor, CPA is an Accounting and Tax Services in Georgia. You can trust us in managing your taxes so that you will never end up with any dispute against the IRS.
Aside from managing your taxes, we also offer a number of services such as:
- Personal financial planning
- Business services (small business accounting, payroll, bank financing, part-time CFO services)
- Tax services (tax preparation, tax planning, tax problems)
If you want to know more about the full range of our offered services, you can check here www.jf-cpa.com/tax-services-services.
As they say, you can never win against the IRS and besides, there is really no reason getting in their bad side. They might only closely watch your business which can make you feel more pressured. Might as well employ us and be up-to-date with your tax obligations. You can call us at 404-884-9220 to enjoy our services. Make that call now!
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