Tax Attorney in Red Bank, NJ
Margaret M. Mahon, Esq., LLC has the experience and skill to review your commercial, real estate, and personal documents to determine your true tax liability and advise you on how best to proceed to reduce or eliminate certain obligations. We are equipped with a deep understanding of federal and New Jersey tax law and how it applies it to your unique circumstances. To discuss your tax situation with an experienced tax law attorney, contact Margaret M. Mahon, Esq. LLC.
Offering comprehensive tax services
Dealing with personal and business tax issues can be both stressful and confusing. However, addressing the issue head-on often achieves the most successful result.
Our firm regularly advises clients on various tax matters, including:
- Tax liens
- Estate and gift taxes
- Offers in compromise
- Lien discharges
- Past due taxes
- IRS audits
- Tax deferments
For New Jersey businesses, careful tax planning is also imperative. Potential tax obligations include corporate tax, sales and use tax, payroll tax, and property tax. For individuals, it is important to understand the potential tax consequences of investment decisions, assets transfers and employment changes.
IRS and NJ Division of Taxation Matters
Individuals and businesses often owe tax payments to the Internal Revenue Service that they cannot afford to pay. Unpaid taxes can result in a number of unpleasant consequences, such as tax liens, wage garnishments, and even criminal charges. In these situations, there are a number of options available to obtain relief, including:
- Installment payments: The taxpayer agrees to pay the outstanding tax liability over a specified period of time.
- Offers in compromise: The taxpayer offers and the IRS agrees to accept a lower amount in satisfaction of the full tax obligation. This may be based either upon doubt as to liability or inability to pay.
- Penalty reduction: Taxpayers can seek to reduce penalties charged for failure to file or pay taxes by offering a reasonable cause, such as illness, incorrect tax advice or natural disaster.
- IRS lien discharge/subordination: After a tax lien has been filed, it may be possible to get the lien released. In other cases, a federal tax lien can be made secondary to another lien, such as a mortgage loan, to permit a sale or refinance.
Legal representation can make a difference
When facing an IRS audit or unpaid taxes, taxpayers should never go it alone. While an accountant understands the intricacies of state and federal tax law, a skilled tax law attorney can also negotiate effectively on your behalf. Discussions with a lawyer are also protected by attorney-client privilege, which means that any information you reveal cannot be shared with tax authorities, including the IRS.
Take control of your taxes by contacting an experienced Red Bank attorney
Margaret M. Mahon, Esq. LLC provides comprehensive tax attorney services to individuals and businesses throughout Monmouth County. With significant tax law experience, our firm can offer valuable help when dealing with the IRS or local tax authorities. To discuss your tax issues, contact our firm today. We offer a free 30-minute consultation to all clients.