Jupiter Bankruptcy & Tax Lawyer
Taxes can take a sizeable chunk out of your take-home pay, and wages that would otherwise cover your expenses may fall short once the government takes their cut. Unfortunately, not paying taxes is not an option. Claiming too many exemptions or otherwise shortchanging your withholding could leave you facing a considerable tax debt. When you owe back taxes or have years of un-filed tax returns, it is important to contact the law firm of Nowack & Olson, PLLC. Our Jupiter bankruptcy & tax lawyers have over 40 years combined experience, and can help protect you against harsh penalties.
Protecting You Against Tax Debts
According to Business Insider, while plenty of people are happy to get a tax refund each year, thousands of others end up owing money on their tax returns. Ignoring tax debts, either by not filing a tax return or not paying the amount owed, is never a good idea. In addition to the amount you owe, you will end up facing interest charges, along with additional tax penalties. Tax debts which go unpaid or unresolved can end up resulting in legal actions. These may include:
- Seizing money in bank accounts;
- Seizing property you possess;
- Garnishing your wages and earnings;
- Seizing future tax refunds;
- Placing liens on your home or other property.
At the law firm of Nowack & Olson, PLLC, our Jupiter lawyers provide the professional legal guidance you need to resolve your tax debts, while protecting you against these and other types of legal actions.
When Bankruptcy May Be an Option
Filing for bankruptcy may be an option for resolving your tax debts, but it is important to act quickly in the matter. As soon as you are aware of the problem or upon receiving a tax notice, contact our Jupiter bankruptcy lawyers right away. Under Internal Revenue Service (IRS) guidelines, tax debts may be eliminated through bankruptcy proceedings, provided the following requirements are met:
- You have filed any previous year unfiled returns;
- The tax debt is at least three years old;
- The amount you owe is related to past income taxes, as opposed to penalties for tax fraud or evasion;
- You are an otherwise honest taxpayer, and did not commit fraud or misrepresent yourself in your tax return.
At the law firm of Nowack & Olson, PLLC, we can show you how to eliminate your tax debts, while still retaining your home, car, and other property. It is important to act immediately, as soon as you are aware of any taxes owed. While bankruptcy may help to eliminate your debts, it will not erase any federal judgment liens that have already been filed in your case. So do not delay-reach out to our Jupiter bankruptcy and taxes lawyers right away.
Contact Us Today for Help
When dealing with tax issues involving the IRS, the law firm of Nowack & Olson, PLLC acts as a strong legal advocate on your side. Contact our Jupiter bankruptcy and taxes lawyers and request a free consultation to discuss your case today.