Stockton, California, Tax Attorney
The tax code can be a set of broad and intimidating laws for a person or company to interpret. With all the constant changes to code every year, taxpayers often struggle to remain compliant with the wide range of laws that may apply to them or their business. However, an experienced attorney can help you successfully navigate the tax code so that you can avoid a tax audit or other serious issues. If you require assistance with a tax matter, you should consult with an experienced Stockton tax attorney as soon as possible.
The NewPoint Law Group, LLP, is committed to working with our clients to ensure that they always operate within the laws set by the Internal Revenue Service (IRS) and other tax agencies. We recognize the difficulty of managing complex tax matters, and we are here to alleviate your concerns. To schedule a confidential legal consultation to discuss your tax situation, contact our firm at 800-358-0305. You can also contact the firm by using our online submission form.
Common Tax Law Issues Our Firm Handles in Stockton
Tax law in Stockton consists of a broad range of regulations that affect practically every industry. Whether you are a business owner or an individual taxpayer, you are required to deal with complex tax law issues. The following is a list of common tax law issues that the NewPoint Law Group, LLP, can help you resolve.
Unfiled Tax Returns
There are a variety of reasons that a Stockton taxpayer should seek to handle unfiled tax returns from previous years. One of the primary benefits of handling unfiled tax returns is to claim a tax refund. If you do not file old tax returns, you risk the possibility of losing out on claiming your refund. Taxpayers only have a three-year window from the due date of the return to claim their tax refund. Additionally, the three-year deadline also applies if the taxpayer wants to claim a tax credit.
Additionally, if you are a self-employed worker, it is vital to file your tax returns. Self-employed workers that fail to file tax returns are not having their income reported to the Social Security Administration. This is a serious issue because the self-employed worker is not paying into their retirement benefits.
Unfiled tax returns can also affect your ability to file and obtain a loan. Institutions that offer loans will often refer to an applicant’s tax returns to help determine whether they are eligible for a loan. If an institution discovers that you have not filed your taxes for a number of years, this could lead to a taxpayer being denied a loan.
Tax Liens and Levies
If a taxpayer fails to handle their tax debt, they can be they could be subjected to a tax lien. When a taxpayer fails to pay their tax debt, the IRS has the power to place a lien on all property they own and property that is acquired while the lien is still active. Additionally, the IRS could also issue a public notice to all your creditors to inform them of the lien. As a result, the taxpayer’s credit could be substantially affected, and they may be unable to apply for a loan.
If a taxpayer does not pay their tax bill after having a tax lien attached to their property, this could lead to the IRS issuing a tax levy after a period of time. A tax levy occurs when the IRS seizes taxpayer property in order to satisfy a tax debt. The IRS can place a tax lien on personal property and even property owned by a business entity. This means that valuable property needed to operate a business could be seized by the IRS.
It is important to note that the IRS will not immediately seize all property during a tax levy. Instead, the IRS will provide a taxpayer with a limited amount of time to pay off their debt. For example, if a bank account was a part of a tax levy, the taxpayer may have a few weeks to rectify their tax bill before the balance of the account is handed over to the IRS.
If you received a message from the IRS that you owe back taxes, you should waste no time in speaking with an experienced tax attorney. The IRS would often instead work with the taxpayer to handle their tax debt before pursuing a tax lien or even criminal charges. Our firm can help you negotiate with the IRS to avoid the possibility of a tax lien.
A tax audit may occur for a number of reasons. For example, if a taxpayer filed a tax return with serious mathematical errors, this could result in a tax audit by the IRS. We understand that a tax audit can be daunting, and we are here to help alleviate your concerns.
There are various other tax law issues that our Stockton tax law firm can help you resolve. Let us manage your tax situation.
Consult with Our Experienced California Tax Lawyers to Discuss Your Case
If you require legal assistance to handle a tax matter, you should contact an experienced Stockton tax attorney as soon as possible. At the NewPoint Law Group, LLP, our diligent tax lawyers possess decades of legal experience, and we are ready to provide you with the legal representation that you deserve. To schedule a confidential legal consultation to discuss your tax matters, contact us at 800-358-0305. You can also contact the firm online.