Tax Resolution Services
Back Taxes Owed
Have you filed your tax returns every year, but not paid all the tax you owe? Maybe you just didn’t have enough money at the time and planned to pay more later. Unfortunately, the penalties and interest that are added to back taxes greatly increase how much you will ultimately owe the government. If you are delinquent on your taxes and haven’t yet heard from the IRS, you soon will. The IRS may place a lien on your property or a levy on your bank accounts or wages. The potential damage from unpaid back taxes can be financially ruinous, but it is often avoidable. We can help you assess your tax debt options and negotiate a workable payment plan with the IRS. Unpaid back taxes is a problem that rarely goes away on its own. Contact us today and resolve your tax liability issues.
Bank Levy
A bank levy freezes your bank accounts. Any checks you have written will bounce. You will not be able to withdraw any funds or pay any bills. Generally, you have 21 days to respond to the IRS after your financial institution receives a Notice of Levy for your accounts. After that, your accounts are drained and the money is sent to the IRS. If you act immediately, we may be able to get the levy revoked. Together, we can compile and forward the IRS the information they require to release the levy. We will also negotiate the best possible payment arrangement the law and your finances allow.
Currently Not Collectible/Hardship Status
If paying your tax debt would cause you undue financial hardship, you may qualify for Currently Not Collectible (CNC) status. If the IRS decides your case is legitimate, they will halt collection for the duration of your CNC status, although you may still be subjected to a lien. Generally, to be accepted as Currently Not Collectible you must demonstrate to the IRS that you cannot pay your tax debt after meeting monthly living expenses or by liquidating certain assets. Applying for hardship status on your own is time-consuming and can ultimately end in failure. Our tax professionals are familiar with IRS rules and regulations. If we feel you have a good chance to qualify for hardship status, we will submit the correct paperwork on your behalf and emphasize your suitability to the IRS. Currently Not Collectible is best thought of as a reprieve from collection enforcement that is subject to review. Once your status is confirmed, however, we can recommend options that will bring your tax controversy to a permanent close.
Injured Spouse Relief
You may qualify for Injured Spouse Relief if the IRS uses the refund from your joint return to offset certain past-due debts that are the sole responsibility of your spouse or former spouse, such as taxes, child support, or student loans. Injured Spouse Relief should not be confused with Innocent Spouse Relief. You may be classified as an Injured Spouse if you do not receive your portion of a refund because of your spouse’s debt, whereas Innocent Spouse Relief applies to debt for which you are technically co-responsible, but not liable because of circumstances. Whatever the cause, we can help you rectify an unfair tax liability and get you your money. Our tax experts will closely examine your case to see if you qualify for Injured Spouse Relief and/or any other IRS Relief programs.
Innocent Spouse Relief
Many married taxpayers file a joint tax return because of the benefits this filing status allows. Unfortunately, the opposite is also true. If you filed a joint return with your spouse or former spouse, you may be held liable for the taxes, interest, and penalties–even if it was your spouse who earned the income and/or claimed improper deductions or credits. This is true even if a divorce decree states that your spouse will be responsible for any amounts due on previously filed joint returns. If the IRS is holding you responsible for your spouse’s or former spouse’s fraud or negligence, we can help. Our experienced representatives will quickly determine if you qualify for tax relief and then negotiate with the IRS for the outcome most favorable to you.
There are three types of relief available.
Innocent Spouse Relief By requesting innocent spouse relief, you can be relieved of responsibility for paying tax, interest, and penalties if your spouse did something wrong on your tax return.
Separation of Liability Relief Under this type of relief, you divide the additional tax owed from your joint return, plus penalties and interest, between you and your spouse (or former spouse).
Equitable Relief If you do not qualify for innocent spouse relief or separation of liability, you may still be relieved of responsibility for tax, interest, and penalties through equitable relief.
Don’t be the victim of someone else’s mistakes or dishonesty. Contact us today to see if you qualify for Innocent Spouse Relief or other IRS tax relief programs.
IRS Audit Representation
Have you received a Notice of Audit and Examination Scheduled from the IRS? An IRS audit is a review of an organization’s or individual’s accounts to ensure information is being reported correctly. Ignoring an audit usually means the IRS files your return for you and you end up paying much more. An IRS audit is a serious situation, but with experienced help most tax difficulties can be resolved. You don’t have to face an audit alone. Our associates are qualified to represent you before the examination division of the IRS. Oftentimes we can save taxpayers many times the cost of representation and quickly bring the audit to a close.
Levies and Seizures
Levies and liens are often confused, but they are actually quite different. A lien secures the government’s interest in your property when you don’t pay your tax debt. A levy actually takes the property to pay the tax debt. If you don’t pay or make arrangements to settle your tax liability the IRS can levy, seize and sell any type of personal property that you own or have an interest in. Even your retirement accounts and home are fair game. If you have received a Notice of Intent to Levy please contact us immediately. There is a brief time period where we may be able to appeal the process and negotiate a workable payment plan before the levy even begins. Levies are best understood by examining their primary asset targets.
Liens
A federal tax lien arises shortly after the IRS makes an assessment of your tax and sends you a demand for payment. A Notice of Federal Tax Lien lets your creditors know the IRS has a claim against all your property–including property you may purchase in the future. Once the lien arises, the IRS generally will not release it until the taxes, penalties, and fees are paid in full. But there are actions you can take. If you contact us immediately, we may be able to file an appeal with the IRS and have your lien reconsidered. Our tax experts will thoroughly examine your situation to see if you qualify for a payment or penalty reduction. We can find out if the Statute of Limitations has expired or if your finances allow you to file as Currently Not Collectible. Failing these, we will diligently work to set up a payment plan with the IRS and get the lien revoked.
Unfiled Returns
If you have neglected to file a tax return from a previous year or years you should do so immediately–even if you think you can’t pay. The penalties and interest you may face for not filing a return are often much worse than if you file but do not pay in full. In other words, you have nothing to gain by not filing tax returns except hefty fines and possible jail time. We have the expertise you need to straighten out your misunderstanding with the IRS.
Once we have filed your missing returns, we can help you work out a payment plan or an Offer in Compromise. Please note that the IRS will not accept any payment arrangement or revoke a lien or levy until all delinquent tax returns are filed. Contact us today to learn more about filing your overdue tax returns.
Why an Enrolled Agent?
An enrolled agent is a person who has earned the privilege of representing taxpayers before the Internal Revenue Service by either passing a three-part comprehensive IRS test, or through experience as a former IRS employee. Individuals who obtain this elite status must adhere to ethical standards and complete 72 hours of continuing education courses every three years. Enrolled agents are unrestricted as to which taxpayers they can represent and what types of tax matters they can handle. Don’t go before the IRS alone. If you or your business is facing a tax audit our enrolled agents can help.