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How to Handle Non-Payment of Taxes

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with Robert Wood, Rated Among Top Six Lawyers in the US, Author of over 30 books on tax laws and reforms, Tax Columnist at Forbes

 

Sometimes, life just gets in the way of people being able to regularly file and pay their taxes, just as it did for comedian Chris Tucker who got slapped with a $14 million tax bill. Robert Wood, a top tax lawyer, offers tips on how to handle things if you slip on your taxes. He also talks about tax liens, how small they can be (as little as a few hundred dollars), how they impact your credit rating and apply to all the assets you own – so the IRS eventually gets its money.

He shares a few common-sense tips on staying current on your taxes and navigating the complex US and international tax code and treaty morass. In certain legitimate cases though, says Robert, the IRS will cut you slack and even reduce penalties. So if you’re behind, or at-risk of running afoul of IRS rules, Robert’s suggestions are good to bear in mind all year round.

Steve Pomeranz
I've been an investment strategist and adviser for over 35 years, leading with a mission of unbiased advice to educate and protect listeners on my weekly radio show on NPR affiliates nationwide. I have been named a “Top 100 Wealth Advisor” by Worth Magazine and “Top Advisor” by Reuters.