8 episodes

Every year the IRS sends millions of notices and letters to taxpayers for a multitude of reasons. We understand that seeing an envelope from the IRS can cause fear and anxiety! But, take a deep breath and recognize that taking care of the problem is likely a straightforward solution.

Welcome to Nemeth IRS News, featuring Nick Nemeth, Founder, of the Law Offices of Nick Nemeth, and Jamie Flores, a Managing Attorney at the firm, for in-depth tax talk!

Join us for each episode as Nick Jamie explore the world of tax law and offer solutions for resolving a variety of issues with the IRS. Every episode will feature a new topic and draw upon real examples of Nick and Jamie's client cases.

Nemeth IRS News Nick Nemeth and Jamie Flores

    • Government

Every year the IRS sends millions of notices and letters to taxpayers for a multitude of reasons. We understand that seeing an envelope from the IRS can cause fear and anxiety! But, take a deep breath and recognize that taking care of the problem is likely a straightforward solution.

Welcome to Nemeth IRS News, featuring Nick Nemeth, Founder, of the Law Offices of Nick Nemeth, and Jamie Flores, a Managing Attorney at the firm, for in-depth tax talk!

Join us for each episode as Nick Jamie explore the world of tax law and offer solutions for resolving a variety of issues with the IRS. Every episode will feature a new topic and draw upon real examples of Nick and Jamie's client cases.

    Nemeth IRS News - Episode 8 (Is Needing Tax Help Keeping You Up All Night?)

    Nemeth IRS News - Episode 8 (Is Needing Tax Help Keeping You Up All Night?)

    Welcome back to the latest installment of Nemeth IRS News, where we address the common issues surrounding IRS tax debt and the steps you can take to solve this problem.
    In today's episode, we're showcasing the importance of using a proven tax professional to work alongside as you take on the IRS. Don't let your tax debt keep you up all night! Lean on the experts at the Law Offices of Nick Nemeth for guidance through these tough times.
    Timecodes:
    0:06 - Introduction and overview on the topic of the day
    1:30 - Welcoming Jamie Flores to the show
    2:37 - Is there a difference between tax debt and back taxes?
    3:45 - The difference between an IRS tax attorney and an attorney
    4:45 - Specific ways an IRS tax attorney can help someone with tax debt
    7:00 - You should always deal with your tax debt immediately!
    9:21 - What could happen if you don't pay your taxes
    10:25 - Collectors can seize bank accounts and passports
    11:36 - Closing remarks


    Connect with Nick Nemeth and Jamie Flores:
    https://www.myirsteam.com/ (Website)
    https://www.facebook.com/NickNemethLaw (Facebook)
    https://www.youtube.com/channel/UCMEGZmfufJrx4MgFGhnCy9w (YouTube)
    https://www.linkedin.com/in/nick-nemeth-721599b/ (LinkedIn)

    • 12 min
    Nemeth IRS News - Episode 7 (Here's What Happens When You Owe Back Taxes)

    Nemeth IRS News - Episode 7 (Here's What Happens When You Owe Back Taxes)

    No one enjoys paying taxes. Plain and simple. But as the saying goes, there are two certainties in life: death and taxes. So, taxes are an inevitable part of life.
    If you don’t pay your taxes, something called “back taxes” accumulate. And as time passes, penalties and interest also pile on, making the overall debt snowball in size. Rest assured however, that if you are struggling with growing back tax debt, there are many ways to regain control over the situation.
    In the latest installment of Nemeth IRS News, we're covering the various strategies at your disposal should you fall into a situation where you owe back taxes to the IRS.
    Timecodes:
    0:06 - Introduction and overview on the topic of the day
    2:36 - What are back taxes?
    3:06 - What to know if you can't pay your back taxes
    4:26 - The penalty for not filing your tax returns
    6:09 - What if you don't have the accurate and detailed records needed to prepare your tax returns
    7:48 - The six year rule
    9:10 - What happens when you can't pay your back taxes?
    10:45 - Additional advice for someone who can't pay their full tax bill
    11:55 - There are options and solutions available for you!
    13:22 - Closing remarks
    Connect with Nick Nemeth and Jamie Flores:
    https://www.myirsteam.com/ (Website)
    https://www.facebook.com/NickNemethLaw (Facebook)
    https://www.youtube.com/channel/UCMEGZmfufJrx4MgFGhnCy9w (YouTube)
    https://www.linkedin.com/in/nick-nemeth-721599b/ (LinkedIn)

    • 14 min
    Nemeth IRS News - Episode 6 (Your Tax Bill Might Be Bigger Than You Think)

    Nemeth IRS News - Episode 6 (Your Tax Bill Might Be Bigger Than You Think)

    Owing taxes to the IRS is no laughing matter. Between the penalties and other fees that add up, you may find yourself facing a bill larger than you’d imagine.
    In the latest installment of Nemeth IRS News, we’re going to discuss what steps you can take if you find yourself owing taxes. And as always, if you find yourself facing this issue, we encourage you to contact the Law Offices of Nick Nemeth. Our IRS tax attorneys can help!
    So sit back, relax, and enjoy another informative conversation!
    Timecodes:
    0:06 - Introduction and overview on the topic of the day
    1:50 - Jamie Flores sets the scene
    2:24 - The most common reasons someone might owe money to the IRS
    4:20 - How your tax bill can grow and worsen as time goes on
    7:00 - The recommended steps to take if your tax bill is higher than you anticipated
    8:03 - The penalties for not filing your tax return on time
    12:00 - Installment agreements and an offer-in-compromise
    14:45 - How an offer-in-compromise can be achieved and who qualifies for this
    17:27 - Closing remarks


    Connect with Nick Nemeth and Jamie Flores:
    https://www.myirsteam.com/ (Website)
    https://www.facebook.com/NickNemethLaw (Facebook)
    https://www.youtube.com/channel/UCMEGZmfufJrx4MgFGhnCy9w (YouTube)
    https://www.linkedin.com/in/nick-nemeth-721599b/ (LinkedIn)

    • 18 min
    Nemeth IRS News - Episode 5 (Ever Wonder How IRS Debt Settlement Really Works)

    Nemeth IRS News - Episode 5 (Ever Wonder How IRS Debt Settlement Really Works)

    People often think of the IRS as a ruthless government agency, however, there are circumstances in which the IRS will actually allow you to settle your debt for less than the total amount you owe, if you meet certain criteria. It is important to understand all the options and pick a strategy that works best for you, and working with a tax attorney may be the best move.
    In the latest installment of Nemeth IRS News, Nick and Jamie highlight how the debt settlement process with the IRS actually works. Plus, they'll explore the various strategies at your disposal and how they can be utilized in various circumstances.
    Sit back, relax, and enjoy another informative episode that's bound to leave you with considerations for your own tax debt situation.
    Timecodes:
    0:06 - Introduction and overview on the topic of the day
    1:56 - What is IRS debt settlement overall?
    2:47 - The usual options a taxpayer has for settling their tax debt
    3:52 - A partial pay installment plan with the IRS
    5:37 - How to qualify for a partial pay installment agreement
    8:09 - An offer in compromise and how your debt is settled with this strategy
    10:20 - Who is eligible for an offer in compromise?
    12:08 - How the amount is determined when dealing with an offer in compromise
    13:40 - The fees associated with the offer in compromise
    15:42 - Start taking action now and look into both these strategies
    18:03 - Closing remarks


    Connect with Nick Nemeth and Jamie Flores:
    https://www.myirsteam.com/ (Website)
    https://www.facebook.com/NickNemethLaw (Facebook)
    https://www.youtube.com/channel/UCMEGZmfufJrx4MgFGhnCy9w (YouTube)
    https://www.linkedin.com/in/nick-nemeth-721599b/ (LinkedIn)

    • 19 min
    Nemeth IRS News - Episode 4 (Need Help Resolving Taxes?)

    Nemeth IRS News - Episode 4 (Need Help Resolving Taxes?)

    If you don’t pay your taxes—then what are called ‘back taxes’ begin to add up. Basically, back taxes are any taxes that you have failed to pay over time. And the more time that passes, the more penalties and interest that will accrue, making your overall debt bigger.
    In the latest installment of Nemeth IRS News, we're diving into several options available for people struggling with back tax debts. This can get complicated, so we always suggest you work with a tax professional!
    Timecodes:
    0:07 - Introduction and an overview on the topic of the day
    1:37 - Jamie joins the show and introduces herself
    1:54 - Should you file your late tax returns even if you can't pay them?
    2:40 - A Substitute for Return and the details behind it
    4:48 - The options for people that aren't able to write a check and clear the debt
    7:33 - What is an offer in compromise?
    9:50 - Payment plans with the IRS and how they work
    13:45 - The consequences people can face by ignoring their tax debt
    14:39 - How bankruptcy filing works
    16:21 - Closing remarks
    Connect with Nick Nemeth and Jamie Flores:
    https://www.myirsteam.com/ (Website)
    https://www.facebook.com/NickNemethLaw (Facebook)
    https://www.youtube.com/channel/UCMEGZmfufJrx4MgFGhnCy9w (YouTube)
    https://www.linkedin.com/in/nick-nemeth-721599b/ (LinkedIn)

    • 17 min
    Nemeth IRS News - Episode 3 (When IRS Abatement of Penalties is Possible)

    Nemeth IRS News - Episode 3 (When IRS Abatement of Penalties is Possible)

    Falling behind on paying your taxes to the IRS will result in penalties and interest charged by the government agency. And the longer your tax debt goes unpaid, the higher the interest and penalties will go. Fortunately, there are IRS penalty abatement options available to select people and situations, though many people are not aware of this possibility.
    In the latest installment of Nemeth IRS News, Nick and Jamie explore who can benefit from IRS penalty abatement and how to take advantage of the benefit.
    Keep in mind, applying for IRS penalty abatement is a complex process that requires professional help to stop the IRS collection process. Luckily, we have Nick and Jamie to share their valuable insights on the matter!
    Timecodes:
    0:06 - Overview on the topic of the day
    1:59 - What is an IRS penalty abatement?
    2:58 - Examining the different penalty abatement options available
    4:40 - Reasonable cause and how this option comes into play
    6:20 - What to do if you don't qualify for any of the options listed
    8:32 - An example of a case Nick worked on in the penalty abatement process
    10:12 - How much money can be abated and is there a limit to that amount?
    11:58 - How someone goes about requesting a penalty abatement
    14:15 - Additional considerations when applying for IRS penalty abatement
    15:41 - Closing remarks and how to get in touch with their team


    Connect with Nick Nemeth and Jamie Flores:
    https://www.myirsteam.com/ (Website)
    https://www.facebook.com/NickNemethLaw (Facebook)
    https://www.youtube.com/channel/UCMEGZmfufJrx4MgFGhnCy9w (YouTube)
    https://www.linkedin.com/in/nick-nemeth-721599b/ (LinkedIn)

    • 17 min

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