Tax Attorney in Yonkers, NY

You may have a successful individual or business or be a high-level executive, but that doesn’t mean you understand tax law, how it works, or what you need to do to avoid legal trouble or resolve it when you have a tax debt issue. You’re smart enough to accomplish many things and intelligent enough to know when you need help from a tax relief lawyer in Yonkers, Timothy S. Hart.

The goal of IRS and state tax agencies is to get the tax money that is owed to them. Toward this end, they offer programs to make it easier for people who can’t afford to pay their taxes in a single lump sum to be able to pay what they owe. If this describes your situation, you may qualify for such a program that will allow you to pay your full tax debt off over time or to pay less than you owe in taxes. Keep in mind, though, that even if you don’t have the money to pay your taxes, you must still file your tax returns to qualify for one of these programs. You must also file your return to avoid harsh monetary penalties for unfiled tax returns and the possibility of being investigated for tax fraud or evasion.

What If I Owe More Taxes Than I Can Pay?

There may be a solution for you if you owe more taxes that you can pay all at once. The following tax settlement programs are offered by the IRS to help taxpayers resolve tax debt:

• Installment payment agreements, which allow taxpayers to pay tax debt over time, in regular installments.
• Offer-in-compromise agreement, which is a settlement in which the IRS agrees to accept less than the full amount of taxes owed.

Read on to learn more about these tax debt relief options. You may wish to speak with an experienced tax attorney to learn whether you qualify and get assistance negotiating an affordable outcome with the IRS. Installment Payment Agreement In an installment payment agreement, you pay your taxes over time, typically in monthly payments. How much you pay in regular payments and for how long will depend upon your unique financial circumstances, including how much you owe in taxes and what your income and other expenses are each payment period. With an installment agreement, you will also have to pay interest and late-payment penalties unless you can negotiate with tax authorities to have these reduced or waived. Offer-in-Compromise An offer-in-compromise is a negotiated agreement to pay less taxes than you owe. To potentially qualify for an offer-in-compromise, you must approach the IRS and make an offer of what you can pay, and you must include an initial payment with your offer. After the IRS reviews how much you owe in taxes and your financial circumstances, your offer will either be accepted or not. If accepted, you may have up to two years to pay the taxes you owe, depending on the terms of the agreement. If your offer is rejected, your initial payment will be applied toward the taxes you owe. Currently-Not-Collectible Status Another potential option for you if you can’t afford to pay taxes is to seek currently-not-collectible status. If you qualify, the IRS will stop collection activities against you. Note the word “currently,” however. Once your financial situation changes, if it does, the full amount of taxes you owe will become due, along with the penalties and interest that have continued to accrue. While you are in currently-not-collectible status, the IRS will periodically review your financial circumstances and may also file a tax lien against any property and assets you have. An experienced back taxes lawyer can review your financial situation and counsel you about whether you may qualify for one of these programs. The New York State tax department offers similar programs.

What Happens If You Owe Taxes and Don’t Pay?

What happens if you owe taxes and don’t pay? Nothing good will happen, because tax authorities will eventually catch up with you. If you owe taxes and don’t pay and do not make any arrangements with the IRS or the NYS taxing authority to settle your tax debt, you could face a host of negative consequences, including stop wage garnishment, tax liens and levies, and potentially prosecution for tax evasion or tax fraud, depending upon all the circumstances. Even if you cannot afford to pay taxes all at once, you should always file your tax returns and try to negotiate a solution through one of the tax programs previously discussed. Voluntary Disclosure Program for Unfiled Returns If you have not filed your returns for a year or more and you owe taxes on those returns, you may potentially be able to avoid harsh financial actions and possible criminal charges through a voluntary disclosure program. Both the IRS and New York State offer these programs. These programs involve voluntarily coming clean to tax authorities before they start investigating you. To potentially qualify, you must:

• Tell the IRS or state that you have unfiled returns for X number of years and owe X amount of money.
• File your back tax returns.
• Pay what you owe in full or negotiate an agreement to pay over time.
• Agree to pay all future taxes.

Are You Unable to Pay Your Taxes? Reach Out to Experienced IRS and NYS Tax Attorney Timothy S. Hart for Help

If you can’t afford to pay some or all of the taxes you owe, do not ignore the problem and think it will go away. It will not. Sooner or later–and probably sooner rather than later—federal and/or state tax authorities will catch up with you. When they do, you could face severe financial penalties and other very unpleasant consequences. Instead of ignoring the tax debt problem, turn to Timothy S. Hart for help. He is a skilled tax attorney and Certified Public Accountant who has a successful history of negotiating payment solutions with the IRS and the New York State tax department for clients with tax debt.

To arrange a free consultation and get on the path to being tax-debt free, call our law office in NYC at (917) 382-5142 or in Albany at (518) 213-3445.

Even though our offices are in New York, Timothy S. Hart is licensed to address IRS tax issues in all 50 states, so he can help you with federal tax problems no matter where you live.

How Complicated is Tax Law?  Very, you need our help!

The key to success is knowing when you need help and choosing the right person for the job.

If you add up all the federal tax statutes, regulations, and court decisions interpreting them, the Tax Foundation in 2014 (before taxes became even more complex) estimated they would fill about 70,000 pages. That’s roughly the equivalent of 75 editions of Leo Tolstoy’s War and Peace. That doesn’t include all the pages the New York tax code, its regulations, and the court rulings that cover them would fill.

There were times in your personal and professional lives you realized you had an issue you should not deal with some issues alone. There was too much at stake, you lacked the expertise, and you saved yourself a lot of grief, time, energy, and money by getting the experienced, outside help you needed. That’s true whether you’re starting a business, building an addition to your house, or confronting a complex tax issue.

What is a Tax Attorney? What Do They Do?

Tax lawyers help clients in a highly technical area of law.

Timothy S. Hart, a tax lawyer in Yonkers, specializes in interpreting and applying tax laws, regulations, and rulings. He represents clients to protect their rights, minimize their exposure to taxes and penalties and get them the best possible outcomes. He can be involved in:

• Creating and implementing tax reduction strategies through offer in compromise
• Advising clients on the consequences of different financial decisions and approaches
• Preparing unfiled tax returns
• Working with clients audited by local, state, and federal tax authorities
• Negotiating the resolution of tax law disputes
• Representing clients in litigation involving government tax authorities.

Timothy S. Hart, a tax relief lawyer in Yonkers, represents individuals and businesses who have tax debt issues

When Should You Hire a Tax Attorney in Yonkers, NY?

Situations will arise when you can avoid a tax problem or need to address one that comes up.

Tax attorneys are unique in their knowledge and expertise in tax law, but they’re also like other lawyers. They help clients avoid problems and help them if they occur. An ounce of preventative legal advice can be worth a pound of getting you or your business out of legal trouble.

Before you make an important decision that could impact your taxes, get legal advice. If you want to map out a path to tax reduction, corporation tax attorney in Yonkers, NY, Timothy S. Hart can show you and your business the best legal ways to do so. Taking tax advice from someone who’s unqualified, in the hopes of cutting your taxes now, can cost you far more in the future if you must pay back taxes, interest, penalties, and legal bills.

If you followed bad tax advice from others or did the right thing and tax authorities are overstepping their bounds, you may face tax trouble. Tax attorney in Yonkers, NY, Timothy S. Hart will zealously defend your rights and help you achieve the most favorable outcome possible.

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What Can Yonkers Tax Relief Lawyer Timothy S. Hart Help Me Address?

Tim can help you prevent tax problems and confront them when they arise in the following areas.

1. Divorce leading to unpaid taxes

Ending a marriage is a life-changing event. It can be painful emotionally and financially if it doesn’t go well. Part of a divorce includes splitting marital assets and liabilities. You may also pay or receive spousal support. Often the support obligation causes a person to fall behind in their taxes

Whether you’re negotiating a settlement or litigating the outcome, you must understand that different approaches may increase or reduce your tax exposure. Timothy S. Hart can also help you with post-divorce tax issues.

2. Tax Audit

At the start of a personal or business tax audit, federal or state tax authorities will conduct an initial investigation. They may ask for information and documents and interview you to learn more. The documents, information, and answers to questions will determine how the audit goes. If the process is mishandled or you violated the law, the audit may result in criminal charges.

Timothy S. Hart can represent you throughout the audit. You should retain him as early as possible in the process. He may limit the documents and information tax authorities receive, negotiate a resolution that allows you to move on, and represent you if the tax authority decides you must pay more taxes and penalties.

3. Tax Fraud Charges

If the IRS or the New York Department of Taxation and Finance accuses you of tax evasion or fraud, call Yonkers tax attorney Timothy S. Hart immediately. Criminal charges can threaten your assets, livelihood, freedom, and plans for yourself and your family.

If you have legal representation, you also have the protection of the attorney-client privilege, which may prevent discussions and information shared with your attorney from being released to the prosecution. What you share with your accountant may be turned over to prosecutors, and your CPA may testify against you.

4. You or Your Business Owes a Sizable Tax Debt

Call Tim if you or your business faces a large back tax debt and penalties. He may determine they got it wrong and can show them why. He may convince federal or state tax agencies they made a mistake and either eliminate those potential back taxes or significantly reduce them through the tax relief programs available.

If you try to handle this by yourself, you may mistakenly say things that worsen your situation or provide documents or information the government has no right to see. Let Timothy S. Hart do the talking for you and address this problem so you can focus on your life, your family, and your business.

Why Should I Choose Tax Lawyer in Yonkers Timothy S. Hart to Represent Me or My Business?

Timothy S. Hart, the founding partner of Timothy S. Hart Law Group, P.C., is a Yonkers tax attorney and a Certified Public Accountant. He’s admitted to practice in the U.S. Tax Court and provides clients innovative solutions to solve New York State and federal Internal Revenue Service tax issues, including:

• Tax settlements through the federal and New York State offer in compromise programs
• Filing unfiled and amended tax returns
• NYS Voluntary disclosures
• Tax audits
• Criminal investigations.

Tim has the knowledge, skills, and experience to help you prevent tax problems from occurring or address them if they do. He represents clients in tax law matters, including:

• An installment agreement to pay back taxes
• IRS or state tax audits
• Past due or unfiled tax returns
• Filing a voluntary disclosure
• Wage garnishment or tax lien.

Tim also handles Foreign Bank Accounting Report (FBAR) cases. Once he understands your tax issue, he will discuss your best options and what your legal fees will be.

Tim gives personalized service and won’t have others reach out to you on his behalf. We work with many CPAs and attorneys in New York, including those helping clients with difficult tax problems.

Contact the Yonkers Tax Attorney You Can Trust to Help You or Your Business

Yonkers tax relief lawyer Timothy S. Hart has helped many clients like you reach their goals by using his knowledge and experience to resolve the tax challenges they face. Contact Tim today at our Albany office, (518) 213-3445, or our New York office at (917) 382-5142 to schedule a consultation. Tax issues won’t go away by themselves. The time to act is now.