In episode 35 of The Real Talk, Raquel Ramirez interviews Attorney Magda Abdo-Gomez, a tax attorney, as she shares her journey into tax law and her experiences working with the IRS from the importance of opening IRS letters promptly to the implications of missing tax deadlines.

Tune in to discover the relationship between bankruptcy and tax law, and learn about the significance of acting within timeframes in legal matters.

TIMESTAMPS

[00:01:47] Finding Passion in Tax Law.

[00:04:41] Law School Challenges and Realizations.

[00:08:43] The Complexity of Tax Codes.

[00:12:51] Specializing in Tax Litigation.

[00:17:19] Penalties for Late Tax Filing.

[00:19:26] Tax Penalties and Interest Accumulation.

[00:26:40] IRS Staffing Challenges.

[00:29:32] Background Checks for Employment.

[00:33:44] Generational Gaps and Learning.

[00:38:16] Representing the IRS in Bankruptcy.

[00:39:18] The Reward of Helping Others.

[00:46:22] Handling IRS Letters Promptly.

[00:46:44] Tax Filing Deadlines and Penalties.

In this episode, Raquel Ramirez and Attorney Magda Abdo-Gomez emphasize the critical importance of promptly opening any correspondence from the IRS. Attorney Magda highlights that many individuals tend to delay or ignore IRS letters out of fear or avoidance. However, she stresses that neglecting these letters can lead to severe consequences and penalties in the future.

Overall, this episode gives importance to being proactive in meeting tax obligations, understanding the deadlines, and taking timely actions to avoid penalties and interest charges. By staying informed and acting promptly, individuals can navigate the tax system more effectively and prevent unnecessary financial strain.

QUOTES

• "But the more sophisticated, when we're talking about attorneys that undertake planning, they're planning based on what the code says and how the IRS kind of interprets it. And there you get sometimes into a little bit of gray where a taxpayer may take a more aggressive position than the IRS wants you to take. And that's where kind of like the fights break out in a way." - Attorney Magda Abdo-Gomez
• "You can know everything there is to know about a specific topic. But if you don't know how to relay that information in a way that somebody could learn from you, then What's the point? That knowledge is really only for you." - Raquel Ramirez
• "But you know what, it isn't the tax in a way, it's the helping people, right? Helping people, people that are afraid of the IRS, people that try to ignore and then they have this huge problem and they hand it off to you and you find a way to resolve that and get that weight off their back and the relief that they feel and the fact that you've gotten their life back on track, it's to me what is great about being an attorney and in these two areas, because in both the areas that I practice, the bankruptcy and the tax, if you were able to solve their problem, you've made a huge difference in their life." - Attorney Magda Abdo-Gomez

SOCIAL MEDIA LINKS

Raquel Ramirez

Instagram: https://www.instagram.com/featured_properties_intl/

Facebook: https://www.facebook.com/featuredre

LinkedIn: https://www.linkedin.com/in/raquel-ramirez/

Attorney Magda Abdo-Gomez

Facebook: https://www.facebook.com/taxbankruptcylawyer/

LinkedIn: https://www.linkedin.com/in/maggie-abdo-gomez-attorney-bbbb9614/

WEBSITES:

The Real Talk: https://www.therealtalkpodcast.net/

Featured Properties International: https://msha.ke/featuredre

Magda Abdo-Gomez: https://magdaabdogomezlaw.com/