This time of year it is virtually impossible to escape a discussion of taxes. Television, radio and print advertisements are replete with suggestions on how to maximize refunds and conveniently file returns without delay. However, for those with back taxes or those who have failed to file in the recent past, all of this talk only serves to increase anxiety and perhaps cause additional procrastination. Fortunately, the Maryland tax attorneys at Rosenberg Martin Greenberg are prepared and ready to step into the fray and untangle even the most complicated scenarios for those with back taxes, thereby helping individuals and businesses across Maryland regain full compliance with revenue authorities.
Potential consequences of back tax obligations
There really is no upside to running afoul of federal or Maryland tax authorities. Falling behind on taxes owed can result in aggressive collection tactics that may include liens, levies, wage garnishments and criminal prosecution. In addition, thanks to a provision added to the 2015 federal highway and transit funding legislation, those with seriously delinquent tax obligations of $50,000 or more may be subject to denial or revocation of their passport until repayment arrangements are made. For those who regularly conduct business abroad, this sanction can have a particularly detrimental impact on their way of life.
Help is available for those owing back taxes
Back taxes can cause sleepless nights, unnecessary stress and for some, sheer panic. The good news is that the IRS as well as the state of Maryland have programs in place to assist those who have run into unexpected difficulties in meeting their obligations. For example, recent years have seen the IRS put into place a series of “Fresh Start” provisions designed to make it easier for taxpayers to address their back taxes, avoid liens and levies and get back on the right side of the law.
In some years, these programs have implemented an increase of the dollar threshold at which the IRS will file a Notice of Tax Lien. Other taxpayers have been able to take advantage of penalty relief if they have experienced a period of unemployment. Fresh Start initiatives have also extended to the realms of offers-in-compromise, installment payment agreements and other options which can be used by taxpayers who need a bit of extra assistance in order to pay what they owe.
Each IRS and Maryland payment alternative, assistance programs will have its own eligibility terms and requirements, and any individual or business taxpayer is well-advised to seek the guidance of an experienced tax professional to determine which alternatives they may qualify for.
Help for Back Taxes in Maryland
The tax professionals at Rosenberg Martin Greenberg understand the dread and worry that back tax obligations inevitably produce. Confronted by a confusing maze of IRS and Maryland rules and regulations and a concern about inability to pay, many businesses and individuals simply choose to bury their heads in the sand. However, by seeking the help of a knowledgeable team of tax attorneys, it is possible for those with even the most muddled tax situations to finally achieve resolution and relief.
For a confidential consultation to learn more about how the Baltimore tax lawyers at Rosenberg Martin Greenberg can help you attain peace of mind when it comes to back taxes, contact us at 410.727.6600.