The Frequently Asked Questions for the Arizona Tax Attorney
If you live in Arizona you are lucky for hundreds of tax attorneys are available to fully answer your tax queries anytime. The greatly assist people who are afflicted with tax disputes of any kind. The following are some of the most commonly posed questions to the attorneys.
What are the consequences of not filing your tax returns?
Unfiled tax returns obvious indicate an upcoming dispute with the Internal Revenue Service. Lets take a scenario where you have not filed your taxes for five years, IRS will have tax claim for all those years. When the tax investigators find out about you, they will compute it all. Then they will find it best to reach you through your last known address this is just in case you had traveled to another country and now you are back. If you refuse to honor their request to pay up the IRS is likely to come after you demanding your debt all the unpaid years.
When the above happens you can be accused of tax evasion which is criminal and is punishable by law. But before this point is reached, the IRS will consistently send you reminders till they reach the unfriendly point when a Notice of Intent to Levy all your wages and assets is sent. This is the danger zone.
What happens to unfiled tax returns that go back a long way?
All unfiled taxes for periods exceeding six years spell more trouble than anticipated for files are kept in the storage and you will need manpower to retrieve them. So an IRS officer will need to browse through all the files to locate your file; most of them will be reluctant thus your dispute drugs on for long.
What is the meaning of wage garnishment?
Wage garnishment basically means that a levy is imposed in another method. This is the manner of collecting the back dated taxes owed by a taxpayer to the IRS. In IRS's language both levy and garnishment mean the same. The targeted points of the garnishment are your bank accounts and your wages, but sometimes the rule may also include the seizure of your furniture, equipment, your home, your vehicles, and your other valuables.
Is it legal for any bank to divulge an account's details to IRS without the concerned party's consent?
With the IRS imposing a levy on your account in the bank, the bank is required to inform the IRS of the amount of money in your existing account. This will overlook all other factors as the source of money, ownership or the intended use. Possessing that money in your own account is enough justification. Some people bank direct deposits for the Social Security, pensions, child support, and many others, but then the IRS does not have time to locate the sources of the money.
When will these levies on the bank account be stopped?
A levy in your bank account will only happen once thus the money next deposited in your account is solely yours.
