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Liens & Levies

Babbitt Tax Law > Liens & Levies

If You Missed The Tax Filing Deadline, You Have Options To Consider

The end of tax season was officially April 18, 2022, which means the IRS is diving into enforcement mode and catching up on notices. What should you do, and what should you expect if you missed the filing deadline? The Good news is that there is no penalty for filing a late return after the tax deadline if a refund is due. However keep in mind If you didn’t file and you owe taxes, you definitely will want to file a return as soon as you can and pay as much as possible to reduce penalties and interest. Now, if you have...

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How To Tell If Your IRS Notice Is For Real?

There are few letters which can arrive in the mail that make your stomach turn like an IRS notice. Unfortunately, scammers have figured out how to take advantage of this socially inherent fear by sending fake letters claiming to be from the IRS because they know they will get people’s attention. Since the IRS does not send out letters or notices that contain threatening language, it is important that you verify that the documents you receive are from the agency. Doing so will allow you to protect yourself from identity theft. Here’s what you need to know about how to tell if...

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Do You Know Your Taxpayer Rights?

There is a chance that one of us will encounter a tax problem with the IRS at some point in our lives. Some people might be facing an audit due to a mistake on their tax return, while others might be owing the IRS money. These are the types of tax problems that can affect every individual. Before you get into a fight with the IRS, it's important to learn how they work and what they can or can't do. Not everyone knows that they have the right to prevent the IRS from seizing their property, levying fines, and garnishing their...

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Tax Lein vs. Tax Levy: What Is The Real Difference?

If you're worried that you might be missing a payment to the IRS, then you might want to consider the various legal options available to you. In this article, we'll talk about the different types of tax liens and levies the IRS can use. We will also cover on how to avoid losing both your assets and property to the IRS. What Is A Tax Lien? A tax lien is a legal claim made by the IRS against the property that you own to settle a debt. It can also include the property that you're able to get after the IRS issues...

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If You are Facing a Lien or Levy Because You Have a Debt with the IRS Babbitt Tax Law Can Help

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Owe Back Taxes? If you owe a debt to the IRS for past taxes remaining unpaid, they will make every effort to collect from you willingly. They will send notice after notice. If you do not respond with payment or arrange a payment plan, things can get ugly. If you own property of any kind that is considered an asset it is free game for the IRS to use it as leverage against you in order to attain payment. They may come after your assets by placing either a lien or a levy. The Difference Between a Lien and a Levy Both forms of...

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