State Tax Help from our Schaumburg Tax Lawyers
Businesses, employees and homeowners have many state tax, sales tax and property tax concerns they must consider. When you consult with our Schaumburg tax lawyers or a real estate lawyer, make sure you address these concerns for your home, job or business.
State Tax Issues
If your business collects sales tax or is required to charge sale tax for retail, you are responsible for filing returns and paying over tax. If you fail to meet your obligations of if something prevents you from doing so, your business could be in trouble. Remember, sales tax auditors and collectors can be more aggressive than IRS agents. State collection agents also have the authority to close businesses, revoke certificates to collect sales tax and criminalize future retail sales. Whether you have unfiled returns, unpaid taxes or new tax assessments from a state tax audit, you should seek legal counsel from a tax attorney immediately to help you.
If you work in a state that charges income tax, you must make sure your employer is properly deducting state income tax from your paycheck. If you are self-employed, you must be sure to follow your state’s guidelines about income tax. An experienced tax attorney can help you make sure you have a plan in place to pay your state income tax every year.
Property taxes are the fastest growing tax problem in our economy. While your property value declines, your county tax assessor may not reduce the tax assessment value, thereby taxing you on a house that is worth more than you could actually sell it for. Further, when mortgage lenders refuse to accept late home loan payments, the property tax escrow remains unpaid, and a property tax delinquency can quickly accrue. Seek legal counsel right away if you are having problems paying your property taxes. Every month that you wait is another month of unpaid taxes.
State Tax Payment Arrangements
Your state will consider payment arrangements for delinquent state tax liability. Similar to IRS, however, you must submit financial statement showing your ability to pay. Have your tax lawyer or qualified representative prepare that statement. Self-prepared proposals could cause you to commit perjury (due to incomplete statements made under oath) or reveal income which should be excluded from consideration.
Taxes in Bankruptcy
You may also consider bankruptcy for some of your tax issues. You may be able to discharge certain income tax liability, or you can catch up on delinquent property taxes or income taxes in a Chapter 13 plan. Our Schaumburg bankruptcy attorneys can help you decide if bankruptcy is the solution you need to your state tax problem.
Contact the Schaumburg tax lawyers at U.S. Law Attorneys, Ltd. right away for a free initial consultation – we have the tax solutions you need.