Taxes, unfortunately, are a necessary part of life and they have a long and established history: the first federal income tax was actually adopted as part of the Revenue Act of 1861. Failure to pay your taxes can have very serious ramifications. If you are in tax trouble you will likely want to consult a tax professional, such as Philadelphia tax attorney, also known as a Philadelphia tax lawyer.
A tax lawyer Philadelphia or tax attorney philadelphia can provide you with detailed investigation of your current tax liabilities and can help you to determine how to prevent, stop or remove any wage garnishments, levies or liens. For taxpayers in serious debt to the IRS, the most feared weapon in the IRS arsenal is the tax levy. The IRS can levy upon assets that are in the possession of the taxpayer, called a seizure, or it can levy upon assets in the possession of a third party, a bank, a brokerage house, etc. Though, in order for the IRS to levy a personal residence, they must first go to court.
A tax lawyer philadelphia can also help you to broker an installment agreement, a program that allows a taxpayer to pay off their outstanding tax liabilities. If you are considering this kind of agreement, it is important to note that there are several different kinds of installment agreements. A tax lawyer in Philadelphia can help you to determine whether an IA is appropriate for you situation and if so what kind. Overall, if you are facing tax problems it can be wise to contact a tax lawyer Philadelphia.
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