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Do you want to take control of your tax debt but can't afford the process? We now offer clients access to funds to get started immediately on resolving their tax debt. Keep in mind that the longer you delay filing your taxes, the more penalties you accrue. Chances of liens, seizures, levies, and garnishments are also increased, often resulting in less control over your finances and added stress. We can help you begin this process and are here every step of the way - take control over the direction of your future today!
Have you received an IRS letter? Keep in mind not complying with an Audit Officer can result in hefty tax bills, and the added stress of gathering documents, communicating with the IRS, and filing the taxes. This is why we offer Audit Representation and handle all communication with the IRS and our clients rarely have to speak with an Audit Officer.
Our team reviews your records, provides clear advice, and represents your case to ensure a smooth process. If you ever have to undergo an IRS tax audit, it's highly recommended that you seek assistance from a professional. A tax professional can provide you with IRS audit help, ensuring that your rights are protected, your tax information is presented accurately, and any interaction with the IRS is conducted in a way that aims to minimize any potential financial impact.
When you owe back taxes, it means you have unpaid taxes from previous years. This situation can occur for various reasons, such as missed filing deadlines or underpayment of taxes due. The longer these taxes remain unpaid, the more complicated and burdensome the situation can become.
So, why is owing back taxes a pressing issue? Most essentially, the IRS imposes interest and penalties on unpaid taxes, which can quickly add up, increasing the amount you owe substantially over time. This financial strain can impact your overall financial health and stability.
One of the most sought-after options for dealing with IRS tax debt is the IRS Offer in Compromise (OIC), a program designed to benefit both the taxpayer and the IRS. The IRS Offer-In-Compromise program opens the door to settling your debt without putting yourself in significant financial strain. If a person is unable to pay the taxes they owe to the Internal Revenue Service, or if doing so would create an undue hardship, an offer-in compromise may allow that person to settle his or her tax debt for less than the full amount owed. In some cases, you can reduce a large tax debt for pennies on the dollar.
To be eligible to make an offer-in-compromise, you must be current with all tax filings and payments and must not currently be in bankruptcy. When making an offer to the IRS to settle your tax debt, you must offer a specific amount to settle all of your outstanding tax liabilities, and the IRS will determine whether or not to accept your offer-in-compromise. You will be required to pay an amount at least equal to your equity in assets plus net income over the next 12 or 24 months to satisfy the tax debt.
Innocent spouse relief can offer relief from extra tax payments if your spouse inaccurately reported taxes on your joint return without your knowledge. This relief applies explicitly to taxes on your spouse's earnings from their job or business.
To qualify, you must prove that when you signed the joint return, you did not know, and had no reason to know, that there was an understatement of tax. Additionally, under all circumstances, it must be unfair to hold you liable for the understatement of tax.
Passport revocation occurs when the government invalidates your passport, making it unusable for travel. This can happen for several reasons, such as owing a significant tax debt, being involved in criminal activities, or security concerns.
If you have significant tax debts, the IRS may alert the State Department, which can then restrict your passport, including denial or revocation, particularly if you're overseas. You'll receive a notice from the IRS if your passport is at risk due to tax debt. It's crucial to respond quickly. Ignoring this can lead to your passport being revoked.
Getting a penalty letter or notice from the IRS has never been a good feeling. But what’s even worse is finding out that you owe them money in penalties and fees. In this situation, you’re probably wondering how to get rid of those pesky fees.
The good news is that getting rid of IRS penalties is possible. The process is called penalty abatement.
The IRS Abatement of Penalty is a provision that offers a break to taxpayers. If you have a valid reason for not complying with tax obligations, such as late payment or filing, the IRS might reduce or even wipe out the penalties.
Are you unable to pay your taxes because it can cause you financial strain? Tax relief in times of hardship can be a lifeline for most taxpayers that are facing hard times. The good news is you may qualify for this status. A hardship tax relief form of financial assistance provided by the IRS to taxpayers who are unable to pay their taxes due to financial hardship. This relief option is designed to help individuals and businesses when paying taxes would leave them unable to meet basic living expenses.
If you don’t qualify for the IRS Offer In Compromise program, a Payment Plan may be the way to resolve your problem. Setting up a payment plan with the IRS gives you a little more time to pay off your tax debts. Our team specializes in structuring manageable IRS payment plans (installment agreements) that align IRS Payment Plans Break Free from Your Tax Burden Today! Feeling overwhelmed A major benefit of a well-negotiated plan is the level of payment takes into account your living expenses and provides protection from enforced actions.
Payroll tax problems happen if employers don’t take out the right taxes from wages. It also happens when employers don’t pay taxes to the government or label employees as independent contractors. This can lead to penalties, interest, and even criminal charges for the employer.
Facing an IRS tax lien can be daunting. We work to negotiate with the IRS for you, exploring options to resolve the lien while focusing. When your taxes are not paid the IRS establishes a lien against all of your assets. This gives the IRS the legal right to collect taxes from the sale of your assets.
In the case of a lien, we will work with the IRS to obtain a release of lien as quickly as possible while working through the tax issues you’re dealing with. Additionally, we will help you to apply for all relevant programs and remedies to reduce or eliminate the debt that is causing the IRS to pursue the lien on your property.
A wage garnishment takes control of handling your tax situation out of your hands. Your paycheck is yours to keep. You worked hard for it, so why would we let the IRS take a portion of your check before it ever reaches you?
As bad as a bank levy is, the worse problem is a wage levy (or garnishment). That is when most of your paycheck goes to the IRS or State, and they do not even leave you enough to pay the bills. If that doesn’t accomplish what they want, they’ll pull out all the stops. They can seize and sell your assets. Remember, the earlier we address the problem the more successful we are likely to be. If you have a levy or wage garnishment, we’re here to help.
Do you need help with filing back taxes? Has life got in the way causing you to not file taxes for a few years? Failing to file your tax returns is a criminal offense that can result in jail time - up to one year for each year not filed.
We offer tax relief help to simplify your life - let us give you the peace of mind you deserve by helping you get compliant with your tax debt. If you voluntarily file your delinquent returns, you’ll likely avoid further problems other than having to pay the interest and penalties. If you do not file, the IRS will file for you, often with undesirable results - little or none of the deductions you are entitled to, resulting in higher amounts due.
We're a full-service, outsourced accounting firm that helps small businesses achieve truly better outcomes. We roll all of our services together into an "outsourced accounting service", so we can provide a one-stop-shop solution for small business owners. Here are some of the services that are included in our outsourced accounting service.
