What Is A Tax Lien?

A tax lien occurs when someone or something fails to pay their taxes on property, gifts, or even estates. A lien is a form of ownership over that property. In some cases, if a lien is not paid off the property will be foreclosed upon.

What Is Federal Income Taxation?

Federal income taxation is the federal tax on the income of individuals, companies, corporations, trusts, etc. The Federal government looks at your taxable income (your gross income minus any exclusions) and taxes you a certain percentage from 10% to 35%.

Can I Request A Tax Extension?

Whether you are having trouble filling out the paperwork, need more time to collect money to pay your taxes, or for some other reason, sometimes you need more time before you file your taxes. Generally, the IRS allows you to file for an automatic 6-month extension of time to file if you file a Form 4868 requesting an automatic extension. However, you cannot simply file an extension hoping not to pay your taxes. Although the IRS does not require an explanation of why you are requesting an extension, you still have to pay any gift or generation-skipping transfer taxes you owe on time. To file for an extension, you must estimate your 2009 tax liability and, although you don’t have to pay the full amount due, you may have to pay interest on what you owe. Remember, you must file this form before April 15.

What Is a Tax Lien Certificate?

A tax lien certificate is a lien on your property for not paying your taxes. If you fail to pay your taxes off, the county government will auction off your property. The winning bidder will receive a tax lien certificate as a proof of purchase. They can then charge interest of up to 50% or they can foreclose on the property and become the owner of the real estate free and clear.

Let us help you call an Attorney at Tax Law Home at 866-697-6581, or use the contact form provided on this site to arrange for an initial consultation.

If you or someone you know needs the assistance of a Tax Attorney, contact Tax Law Home today at 866-697-6581, or use the contact form provided on this site to arrange for your initial consultation.

There are a number of people out there who call themselves "Tax Professionals". Some are reputable, some are not. You may decide you want an attorney to help you with your tax problems. Tax attorneys can be a valuable ally when you have a tax issue, but you could get the same results with an Enrolled Agent or Certified Public Accountant (CPA). You should evaluate your specific situation and decide what you need. If there is a threat of criminal prosecution, an attorney may be your best option. It is important that you research the person or firm you are hiring to help you with your tax problems.

Enrolled Agents

The first thing you may ask is what is an Enrolled Agent. The National Association of Enrolled Agents defines them as "a federally-authorized tax practicioner who has technical expertise in the field of taxation and who is empowered by the U.S. Department of the Treasury to represent taxpayers before all administrative levels of the Internal Revenue Service for audits, collections and appeals". This makes the Enrolled Agent the only tax professional who gets its license to represent taxpayers from the federal government. Unlike Tax Attorneys and CPAs who may or may not choose to specialize in taxes, an Enrolled Agent handles nothing but taxes.

To qualify to be an enrolled agent, a person must pass a thourogh examination covering all aspects of the tax code or have worked for the IRS in a position that regularly interpreted and applied the tax code for at least 5 years. In other words, an Enrolled Agent understands the tax code and how it is applied. One can be a great asset in understanding how the IRS will work with taxpayers who are trying to work out their tax debt.

Certified Public Accountant

Certified Public Accountants (CPA) are simply accountants who have received a license from the state that allows them to perform audits of public taxing entities, non-profits and public and privately held companies. It is in essence a designation that gives authority to the accountant's determinations when they review the financial documents of a trusted institution or person.

The role of a CPA can vary from advising clients in personal matters, to providing tax advice for small businesses, to running the financial record keeping policies for Fortune 500 companies. Some CPAs will gladly take your case to the IRS to negotiate a settlement, but others will only represent you if you have been a long-term client.

Tax Attorney

Tax Attorneys are attorneys who work with taxpayers to solve any type of tax issue they have with the Internal Revenue Service. A Tax Attorney can help a taxpayer take immediate action against the IRS and stop the Internal Revenue Service from devastating their financial and personal life. A Tax Lawyer has the experience to help the taxpayer understand the complexity of the federal tax law and will help them get the tax debt relief they need.