Threats to your financial well-being
The following list represents categories of common tax problems that threaten a person's economic ability to succeed within our society. When the laws of our country afford you a benefit because you are having trouble - let us help you to take advantage of that benefit.
Unfiled Tax Returns
For any individual or business that is behind in filing their tax returns, we can catch you up, file for refunds owed to you, and avoid penalties when we can.
In some cases the IRS will file a substitute tax return for you using whatever information they have. Because they do not have your deductions, or basis for stock trades, the tax on a substitute return is usually much higher; we can fix that.
When they want your money, your connection to your Government can not be more personal. Is the IRS demand accurate, legally justified, and if so, what are your options? Are there exceptions that can help you?
Back Taxes and Installments
You can, and want to pay your tax, just not all at once. We will have to negotiate, review and submit your information, use the regulations to your advantage, and budget. Without effective budgeting you could default and end up right back at square one - and nobody wants that.
There is only so much money a tax collector is legally authorized to take from you in each pay period. If they want so much that you are going to be left broke and unable to live, that is a hardship and they can't do that. Let us help because we know the regulations and then some.
The IRS has legal authority to challenge the claims on your tax return and they do make changes as they see fit. To trust the IRS is to do so at your own peril. At minimum you need a consultation. At most, you need representation to ensure that the math is correct, regulations are followed, and your rights are upheld.
Liens and Levies
If you receive an IRS "Notice of intent to seize (Levy) your property or tights to property," the clock is ticking. You have 30 days from the date on that Notice to do something about it, otherwise the IRS will come after the money in your bank accounts, investments, and if you owe them enough - physical assets like sports cars and vacation homes. You have many options but this type of Notice is your que to call us because we know how to put the brakes on.
IRS PAYMENT REDUCTION
If you are already in an Installment Agreement/Payment Plan, and your payments are affecting your ability to afford necessary living expenses like food, rent/mortgage and utilities, you may qualify for a reduction in your payment amount. You need a new financial analysis and to re-negotiate the amount you are required to pay over.
Payroll Tax Problems
These are the most serious IRS Collections threats facing a business. Because of the quarterly filing deadlines, multiple tax obligations can pile up quickly and destroy a business, and consequently your life. If that weren't enough; a portion of payroll tax is considered to be a trust fund, and the IRS can collect from the owners directly, even if the business is gone. Contact us before these get out of control.
Offer in Compromise
You may qualify for a reduction in the amount you owe the government but only if you can prove that your finances have been exhausted. There are a lot of regulations involved, and a lot of exceptions to those regulations, and you need help with this; even if you only consult with us at our hourly fee. After the financial evaluation phase we can tell you whether or not you will qualify, or if not, what your best course of actions would be.
If you are on the hook for your spouse's tax debts because you signed a joint tax return, there may be an exception to release your liability.
A major change in your life can make it impossible to repay tax debts. We can protect you from adverse IRS collections, and get you back on your feet.
For tax problems that seem to have no answer, or that fall outside of the scope of the usual IRS departments, we can request the help of the Office of the Taxpayer Advocate. Special rules will apply so let us help you.