Minneapolis Tax Attorney on What to Do About Costly Tax Bill

Can you pay your tax bill?

Sometimes after filing taxes, we get nervous about what may happen if we receive a tax bill. And not just any tax bill, but a hefty one from the Internal Revenue Service. What can you even do if you can’t afford it? Many may ignore it – which is not a good decision and will lead to a bigger problem. Minneapolis tax attorney, Tax Tiger, can help you if you become overwhelmed and stressed about your tax bill.

You aren’t alone

According to the IRS, you aren’t alone when it comes to needing help paying a tax bill. There are 5 million taxpayers out there who can’t front the money so there are a couple of alternatives.

Extend your payment period

The IRS allows for an extension on your bill for up to 120 days. If you think this is ample time for you to gather the money, this may be your best situation.


Minneapolis Tax Attorney Shows Ways to Not Spend Refund

When you receive your tax refund A.K.A – a big lump sum of money – how do you plan to use it? Do you first think to save it all? Go on a big trip? Pay off credit cards? Get your pool re-plastered? It’s hard not to start thinking extravagantly on what you could be doing with all of it. Whatever it is, there needs to be a strategy involved so you can make the most of your tax refund. Tax Tiger, an IRS tax attorney in Minneapolis, discovered several ways on how people commonly spend their tax return, but probably shouldn’t. So, if you are one of the 77 percent who received a tax return, here are a few of those ways that you should avoid using that money towards.

Minneapolis Tax Attorney Explains New Highway Bill Passed

Earlier this month President Barack Obama signed the Fixing America’s Surface Transportation (FAST) Act that will team up the Internal Revenue Service with private debt collection agencies in hopes of receiving payments to past due tax bills and thus helping improve the United State’s economy. Nacsonline.com says the bill itself aims to ”Improve the nation’s infrastructure by providing fiscal certainty to state and local governments, streamlining the environmental review and permitting processes, and improving truck and bus safety.”

This works

The last time something similar to this occurred was in 2006 and it was ultimately a success. A study had found that 96 percent more customers were even satisfied with the collection agencies. Although together the IRS and the collection agencies had brought in revenue of $98 million, Congress stopped it in 2009 because they felt that it was losing money opposed to gaining enough.

Minneapolis Tax Attorney Does Business Deductions Right

Being a business owner has many expenses to take into account. And as the tax season approaches it is good to know exactly what expenses you can deduct from your business. Here are a few expenses that could be beneficial for you to deduct:

• Landlines aren’t the only phone that can be deducted nowadays. Cellphones are being used more and more for work so the IRS now recognizes this. If you use your cellphone as a work phone – you can deduct it. The IRS used to not allow cellphones to be deducted because they were used for personal use only. Thank goodness we can handle work on the go now.

Why Your Company Should Hire a Minneapolis Tax Attorney

For a business, doing the taxes can be a pain in the neck. It is a big responsibility to take care of your company’s taxes, but what if you do something wrong? It’s common to make mistakes on a tax return. Even a slight addition problem could cause havoc. The real question is – do you risk the chances of being audited? Hiring an IRS tax attorney in Minneapolis can make your life a lot easier when it comes to filing your company’s taxes. But what can a tax attorney in Minneapolis do that you can’t?

Tax lawyers have been efficiently trained to take care of your taxes. From knowing the current laws to communicating with the IRS on your behalf – they will make sure your taxes are filed without a hitch.

Why You Might Need To Hire a Minneapolis Tax Attorney

Have you suddenly found yourself owing a little more money to the IRS than you had expected? This might come as a shock to your system, especially if you are not someone that has a ton of money just collecting dust in a savings account. You might find yourself worrying that you are not going to be able to pay the IRS the money that they are now suddenly demanding. Financial planning consultation

Avoid this unfortunate situation by hiring a tax attorney in Minneapolis. With the help of a skilled and highly experienced tax attorney, you will be able to do a couple of things to get yourself out of a dire tax situation.

Let a Minneapolis tax attorney help negotiate your wage garnishments

The British poet George Herbert once wrote that “Good words are worth much and cost little.” The importance of clear communication is imperative to every level of success. If you are able to connect and maintain connection with people, your life is open to a world of possibilities that it wouldn’t have been otherwise. Especially in the world of business, the importance of keeping an open line of communication is what will set you apart from your competition.

The same is also true if you happen to be in the unfortunate position of owing money. Whether your debt is to a personal friend, bank or even the IRS, staying communicative will help you reduce the chances ruining you financial reputation and credit.