Is there anything scarier than receiving a letter from the IRS? If the IRS sent you a Notice of Deficiency (NOD), you are probably panicked and intimidated, as well you should be. This notice is the first step the IRS takes to collect what they feel you owe them.
If the IRS thinks you owe any delinquent or back taxes, you will be receiving a Notice of Deficiency. The notice will give you 90 days to dispute the amount. The amount will probably include IRS penalties and interest added to what they state you owe in taxes.
A Notice of Deficiency is the formal letter the IRS sends advising you of your appeal rights with the United States Tax Court. This letter is required by law and is sent by certified or registered mail to your last known address.
The Notice of Deficiency should include an explanation for the deficiency along with a statement of the tax, interest and penalties that have been added. There will also be a final date you can file a petition with the U.S. Tax Court appealing the letter.
Do not ignore the notice. If you do nothing, your time to appeal is over – you won’t be able to appeal and the IRS will have the authority to collect what they state you owe. The IRS is next likely to issue a Notice to Levy against you. Levy is the legal seizure of your property to pay a tax debt.
The Notice to Levy allows you 30 days to respond. After the 30 days, the IRS can seize your property in order to collect the back taxes, penalties and interest. The IRS is not required to give you Notice to Levy or the 30 days to respond if they feel collection is in any jeopardy. If the IRS feels or thinks you’re selling off property or moving your assets to protect them from seizure, they’ll levy against your assets without notice.
The IRS can collect what they feel you owe without proof of the debt. It’s up to the taxpayer to prove what you do or don’t owe the debt. The burden of proof is entirely on the taxpayer.
The process and complexities of tax law are so confusing, it’s worthwhile to hire a qualified tax attorney. A tax attorney will have the expert knowledge and experience needed in dealing with the IRS.
Your Denver tax attorney will ensure responses are submitted in a timely manner and are submitted correctly. Our tax attorney has the skill in talking, writing and filing proper forms to the IRS.
Unlike a certified accountant, or tax advisor, hiring a tax attorney gives you Attorney-Client Privilege. A tax attorney cannot be forced to testify against you, or divulge any confidentiality. Anything you say to your tax attorney can not be repeated.
When a recent survey found more taxpayers were less afraid of being ‘caught’ by the IRS, the IRS decided to step up tax audits and are, again, extremely aggressive in their audit attacks.
Most tax issues are too serious to handle on your own. When you receive a notice from the IRS, call Gantenbein Law Firm – your qualified Denver tax attorney for help. When you hire a tax attorney, you are better protected against IRS actions.
Tyler Murray, LL.M., of the Gantenbein Law Firm, is a skilled and efficient Denver tax attorney, located in Denver and serving all of Colorado. Along with being a licensed lawyer, Tyler Murray has a Masters in Law in Tax. If you have received a Notice of Deficiency for back taxes, contact premier Denver tax attorney Tyler Murray at (303) 618-2122 for a one-hour consultation where he will discuss your situation and go over all your options with you.
Tyler Murray is also a top Denver tax audit lawyer, helping his clients with alternative resolutions to tax audits and tax debt relief. His Colorado tax attorney practice also includes tax appeals, offers in compromise, tax planning, tax audit defense services, filing tax returns, estate taxes, and tax litigation.
Gantenbein Law Firm practice also includes Colorado Real Estate Law, Colorado Foreclosure Defense, Federal and Colorado Tax Law, Colorado Business Formation & Representation, Colorado Business Law and Colorado Family Law. This combination is exceptional in that it provides our clients a complete and full perspective of the most common issues surrounding your unique assets or tax issues.
Please visit our website for more information: www.gantenbeinlaw.com