Tax attorney, Steven Goldburd, partner at Goldburd McCone LLP in Manhattan, New York, outlines the top misconceptions about IRS tax disputes. For more information please visit https://www.goldburdmccone.com
Manhattan, New York, United States – January 29, 2019 /MM-REB/ —
Top tax attorney, Steven Goldburd, partner at Goldburd McCone LLP in Manhattan, New York, has just revealed some of the most dangerous misconceptions concerning IRS tax disputes.
For more information please visit https://www.goldburdmccone.com
When asked to comment, Goldburd said, “Due to misinformation, a decent portion of the American population has several misconceptions about how the IRS operates and what they should do if they encounter tax problems.”
A particularly damaging misconception is that the IRS does not take notice of non-filers.
“Many people assume that they are going unnoticed because no action has been taken against them after not paying taxes for years. However, the chances are that the IRS is in the know as they have financial history sent to them by financial institutions and employers,” Goldburd said.
“Not filing will eventually catch up to you, so the best thing to do is to file your taxes even if you are unable to pay them. Not filing a tax return is considered tax evasion, which is a criminal offense and can carry jail time.”
Many American citizens mistakenly believe the IRS cannot touch them because they fall into a lower income bracket.
When asked to elaborate, Goldburd said, “The IRS has a reputation of being one of the most feared collection agencies in the US, and for good reason. They will try everything to collect on tax debt from nearly every non-tax paying citizen regardless of income level.”
Many are also under the false impression that tax liens are worse than tax levies.
When asked to explain Goldburd said, “A tax lien is a legal claim by a government entity on property or assets imposed on taxpayers who have an outstanding tax bill. An IRS lien can have serious implications on your life and your credit. If left alone, the IRS can and will take your house or other property away from you.”
He explained while the IRS may send numerous warnings, they can implement a levy on earnings, investments, bank accounts and retirement accounts without first obtaining a court order.
Goldburd was quick to add that liens and levies can also other have detrimental effects on taxpayers and is something that many people overlook.
“Your credit score can take a massive hit if the IRS files a tax lien, as liens can hinder you from purchasing a house or from getting a new line of credit. It takes people a long time to recover their credit score after sustaining a hit like this,” he said.
Source: http://RecommendedExperts.biz
Contact Info:
Name: Steven Goldburd
Organization: Goldburd McCone LLP
Address: 42 W 38th St #901, New York, NY 10018, USA
Phone: 212-302-9400
Website: https://www.goldburdmccone.com
Source: MM-REB
Release ID: 477026