Best Tax Attorneys in Greensboro

Frequently Asked Questions

• Where does the Tax Court hold trial sessions closest to Greensboro, North Carolina?

  Trial sessions of the Tax Court take place at the following location: 229237 N Main St, Winston-Salem, NC 27101.

• Where is the low-income taxpayer clinic that is closest to Greensboro, North Carolina?

  The nearest low-income taxpayer clinic to Greensboro can be found at 5535 Albemarle Rd, Charlotte, NC, 28212.

• What are the consequences of failing to fulfill your tax obligations in Greensboro?

  Noncompliance with tax obligations in Greensboro can result in various consequences, which may include:

  • Facing a tax levy where the government can seize and sell your property to satisfy the tax debt.
  • Receiving a tax bill that includes penalties such as fines and interest.
  • Having your tax debt reported to credit agencies, potentially impacting your credit score adversely.
  • The possibility of a government lien being placed on your assets, including your home, car, or bank account.

• What happens if your appeal for an IRS penalty abatement in Greensboro is granted?

  You might be exempt from some or all tax penalties in Greensboro if your abatement appeal is successful, which is especially advantageous if you struggle to pay fines and interest. Your prospects of success will be increased by having a tax expert represent and negotiate on your behalf. Since you usually only get one chance to do this and you want to make sure it's done right, it's important to avoid handling things on your own.

• What are the signs of possible tax fraud in Greensboro?

  The IRS considers the following situations as warning signs of possible tax fraud in Greensboro:

  • Deposits into a bank account originating from undisclosed sources, surpassing the reported income significantly.
  • Detection of documents that appear falsified, deceptive, or manipulated.
  • Unexplained increases in overall wealth.
  • Substantial personal expenditures surpassing the taxpayer's documented income sources.

• What are some of the factors that can lead to the issuance of an IRS notice or letter in Greensboro?

  The primary causes for receiving a notice and letter from the IRS in Greensboro are as follows:

  • Owed tax balance.
  • Identity verification requested by the IRS.
  • Adjustments to the tax refund amount.
  • IRS inquiries regarding items on a tax return.
  • Modifications made to the tax return by the IRS.
  • Notification of potential delays in the tax return processing.
  • Additional information required by the IRS.

• What are the eligibility requirements for obtaining an offer in compromise in Greensboro?

  Individuals and businesses in Greensboro facing financial difficulties in promptly repaying their debt, individuals not in bankruptcy, and those with potentially incorrect tax bills can be eligible for an offer in compromise from the IRS. The IRS typically responds to your case in between six and nine months. In the event of an application denial, you have 30 days starting from the denial date to start the appeal process.