Dallas, TX (PRWEB) July 31, 2012
IRS Lawyer Nick Nemeth knows that nothing good comes from refusing to file taxes. A dented bank account and possible jail time are just some of the worries for tax evaders.
“You’d be better off filling out your forms blindfolded with a paintbrush than not filing and facing the consequences” said IRS Lawyer Nick Nemeth (http://www.dallas-irs-help.com).
The fee for failure to file is 10 times worse than the late payment penalty and starts at five percent for each month or partial month a taxpayer is behind. Waiting 60 days or more after the due date for the return, the least the taxpayer will pay is whichever of these two options is smaller: $135 or 100% of the unpaid balance.
On top of the failure to file penalty, 0.5% fee is assessed on any unpaid taxes every month till the balance is paid. The fee doubles if the IRS issues a letter demanding immediate payment.
The only way out of these penalties is if it can be proved that failing to file or pay taxes on time was due to reasonable cause and not because of willful neglect.
Even if a taxpayer afraid to file your taxes out of fear he won’t be able to afford your payment, there are various tools available to assess the taxes to be owed.
Paying 90% of the balance by April 17 can be a way to avoid fees or getting an extension from the IRS by filing a Form 4868, is another option which will give you six months to file the tax return.
For more info check out the Dallas Tax Attorney's video
About The Law Offices of Nick Nemeth
Dallas IRS Lawyer, Nick Nemeth, is the Founder of The Law Offices of Nick Nemeth, PLLC, a law firm dedicated to helping individuals and businesses resolve a wide range of IRS issues. He has been featured on CBS, NBC, ABC and on Fox as well as in USA Today, CNBC, CBS Money Watch, Yahoo Finance, The Miami Herald and Morningstar. Nick brings fifteen years of legal experience as an IRS Lawyer to those who truly need it. Nick’s ultimate goal in his practice, for any of his clients, is to provide efficient, cost-effective legal representation.